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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: SE who wrote (26437)	6/28/1999 6:16:00 PM
From: Gary E	Read Replies (2) \| Respond to of 44573

Scott Pat Nemer, I just got this... Take a look at their definition of a stop order...... Dear PMBe Customers, The E-mini NASDAQ future has been enabled for trading on PMBe. Please note that the stop function works in the same regards as the E-mini S&P stop loss function. Once the market trades twice at or through the stop price, a limit order will be placed 5 points above/below the last traded price. Due to the fact that the E-mini NASDAQ is less liquid than the E-mini S&P, please be aware that there is potential for higher slippage on the E-mini NASDAQ. In addition market orders have been enabled for the E-mini NASDAQ futures. Any market order will be placed as a limit order 5 points above/below the last traded price. Once again, be aware that higher slippage may occur in the E-mini NASDAQ when using the market order function. Sincerely, Professional Market Brokerage, Inc.

To: SE who wrote (26437)	6/28/1999 7:03:00 PM
From: Patrick Slevin	Respond to of 44573

Hitting OJ with a spoo point for slippage and Vig sounds unfair. The spoo is more inelastic than the Mini but it's your contest and your rules. Just the Commission alone is a fraction of the respective move. I'd just as soon not be in it, thanks. I thought a few times about trying one of these Investment Challenges but for one reason or another I demurred. Don't even recall why. I have one thought in mind about why Nemer jumped out though. He is really making the trades, so he is more careful and trades a manageable size. Just an idea.

To: SE who wrote (26437)	6/28/1999 10:16:00 PM
From: Chip McVickar	Respond to of 44573

Scott, If I may add...since the contests inception the trading has been held between very tight bands of maybe 10 to 15 points with swings of under 5 points for most days, due to the tension surrounding interest rates. This favors those who have perfected the ability to "take profits" and preserve resources. Except for the initial drop...trends have been next to impossible to establish. This environment favors the abilities of Pat and Nemer.... Justifiably masters! It also favors the whales who gulp down the krill in these choppy waters....they have the resources to just circle around these short swings. Most trending indicators that I have been experimenting with do not do well in this market environment. The forks work, but are very short term and the swings are hard to identify. I like holding for 20 point swings over a couple of days, this has not developed. I wonder how Tom's system would be functioning in these waters? For me this has been primarily a money management experience. We started with 10 contracts worth about $40,000 in emini margin and about $120,000 in Spoo margin (I think that's close). With 31 trades and 34 losing points...I've reduced that account by about 6.25%. Having only about 9 contracts left to trade. If this keeps up that money will be reduced to "5" contracts very quickly. To be profitable I must also make back that which I've lost. I'm coming to believe the single most important aspect of trading futures and surviving is money management. Not just trading intuition.