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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Chip McVickar who wrote (18355)3/11/1999 6:53:00 PM
From: Patrick Slevin  Read Replies (1) of 44573
 
No, Big hits are few and far between.

I think I would be happier if you told me that I would get a thousand a day than if you told me that maybe I would get a million a year.

Because "maybe" and the thousand are much different.

You really have to be realistic. Think about it as drawing a paycheck. I pay bills every week. Now, are my creditors going to wait because I have a position trade on and I think in a month I am going to have a killer Long or would it be better if I make 4 points a day and just pay my bills as they hit the mailbox?

I imagine that if I had infinite resources I could wait for the killer Long but if I do not then I could have short-term issues that need to be addressed.

Besides, the one big thing that I get is that I waste my time watching the screen. Well, I happen to like watching the screen and if I want to go play golf then I'm not in the market so I don't worry about it.

Everyone has to trade per their own style and my style is very short term oriented. I'm just a cheap so-and-so and real reluctant to play the position game because I have to use wide Stops. I really got crushed doing that in October and I will not do it again. Psychologically I was completely taken out of the game.

Besides, a position trade could never compensate. But most people cannot day trade so it makes sense to position but still the Big Hit is rare even for the position trade and one has to be happy with the steady income stream rather than look for the pot of gold, if you follow my logic.
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