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

To: Temple Williams who wrote (28605)	7/26/1999 12:12:00 AM
From: Patrick Slevin	Respond to of 44573

Interesting points. I rarely try to project out as far as you do, or rather, try to do. Perhaps the basic flaw in my Positional Trading. Although I do try to project longer term targets, my basic problem is to forget intermediate term issues, such as the Exhaustion which seemed somewhat obvious in the the last run to the 1430 area. This move returning to the 1360 area seems more of a healthy re-visiting of Longer term MAs and Fib areas, to me anyway. I do read your site so I follow what you are saying and really have nothing important to add. < never walk into a bar room brawl unless I knew the exact location of the back door> Brings to mind a remark by a Martial Arts Instructor I once had. A Black Belt, he once was asked the best way to handle oneself in a Bar Fight. He said to take the normal Fighting posture...one foot in front of the other with arms ready to block....and pivot on your toes and head out the back door. He added that if there was no back door, then reach for a bar-stool and work your way out. I actually needed to use that piece of advice about the bar-stool, and successfully, once. I can appreciate that analogy. Contingency Plans are certainly necessary. They just appear to come into play so much more often in the markets than one would care to have them do so.