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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 (27573)	7/13/1999 4:43:00 PM
From: Nemer	Respond to of 44573

Nemer Trades Tuesday .. long 2 at 1402 -- out at 1401 -- points minus 2 long 2 at 1399 -- out at 1399.50 -- points 1 long 2 at 1401.75 -- out at 1403.75 -- points 4 long 2 at 1400 -- out at 1402 -- points 4 long 2 at 1400 -- out at 1401.50 -- points 3 long 2 at 1400.25 -- out at 1398 -- points minus 4.5 long 2 at 1399.75 -- out at 1398 -- points minus 3.5 long 2 at 1398 -- out at 1398 -- point flat long 2 at 1397 -- out at 1402 -- points 10 total trades 9 total contracts 18 total fees 18 total points 12 This is how not to do it ... I was basically correct all day and lose money .... definitely the way not to go ... I (as can be told from my ALL long trades) was determined that 1398 was hard and fast support ... and that I could make 2 to 3 points off buying dips ... This example of trading in and out should give us all a lesson ... if you're firmly convinced that your figures are strong enough to perform in the face of adversity, then trade them .... but don't try to scalp with them .... ..... notice that the three positions where I doubled down were 2 losses and one flat ... that surely shows me the fallacy of doing what I know to be incorrect action, I should have taken the original loss and watched before re entering ...... but NO ---- because I was SO sure of my figures ..... I have taught myself a valuable lesson here, and I hope others profit from it as well .......