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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Brian Hornby who wrote (21206)4/15/1999 8:29:00 PM
From: stockycd  Read Replies (3) of 44573
 
Thread,

For fear of uncovering too much of my ignorance,I will keep this short. I agree with your your statements in relation to daytrading vs position trading. I am not a professional trader and I don't daytrade regularly, only on my days off. It has been my experience that when you are daytrading, you are more in control. If you see the TICK go -1000 and the volume kick up, you react in some way. Well, if you are position trading, you may be in a meeting, walking the dog or simply picking your nose. You don't have as much immediate control. I position trade options and out of every dollar of profit, I end up losing 20-40% of it. I have just accepted that fact and try to make the best of it. If I could daytrade everyday, I would, and would never hold a position overnight again.
BTW, the pitchfork stuff you guys talk about works well on position trading but you have to get in at the start or inflection point of the trend and that can be tricky.

Chris
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