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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Chip McVickar who wrote (18255)	3/11/1999 10:38:00 AM
From: Patrick Slevin	Read Replies (1) of 44573

To be honest, it is rare that I even hold a Futures position overnight. I started doing that back in October on a regular basis because of trying out different systems including these Net models. I imagine if I wished to hold through the rollover then I would merely just flip to the new Front Month in the afternoon of the Wednesday prior. If you could look at June action prior to late yesterday afternoon it was sparse. One would expect the March to begin getting sparse very soon so the liquidity could really mess you up if the market gets fast. <The SPX has to get through 1292 > I understand there was a Gap in the Cash at the Open from around 1286. Tom's posture actually is quite different from GroundZ; Tom developed a Money Management Stop which he moves according to recent action so he actually is limiting any "hit" on his profitability as the market moves in his direction. So if he was Long from 1245, say, and the market was 1295 then he might exit if it retreated 10 or 15 points from 1295. Zero just buys more at points that he picks for a reversal, or closes at breakeven and waits, or just comes up with an alternate plan depending on the situation. Me, I'm cheap. I realized a long time ago that I feel much better about myself if I get just 4 or 5 points on a trade that could have been 15 than I do about myself if I was 4 points ahead in a trade and I try to position it for more, eventually losing 4 or 5 points. It's not really conducive to a positive mental attitude, which is all-important. If my attitude rots then I knock off for the day, there is no way in hell that I will make a rational trade. You might consider Tom's method, I do not think there are many who could trade GroundZ's style successfully. My methods are purely Day Trading and every Trade is different with different "rules" and signals.

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