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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Patrick Slevin who wrote (21222)4/16/1999 11:42:00 AM
From: Chip McVickar  Read Replies (1) of 44573
 
Pat,

Does this stratagy make any sense to you?

I've been purchasing 2 positions on my entry signals for a daytrade.
I put a -2 stop (may need -3)
If the position short/long goes in my favor I sell one contract at my
target, on any negitive signals or at the close.

The other I hold overnight...if I feel the trend is still in my direction
and raise the stop on it to 50% retracement. This gives me a profit if
the position trade is taken out the next day.

Now....if the trade continues going in my favor I raise the stop each day
to 50% or the difference between the purchase price and the new high.
This allows for some very long runs in a strong trend and captures good
profits in any event the market turns.
Make Any Sense?

There is another question in here. Can this be done in Live trading or
will it be to expensive to buy and sell daily stops?
Chip
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