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

To: John Pitera who wrote (29178)	7/31/1999 4:55:00 PM
From: Andreas	Read Replies (3) \| Respond to of 44573

S&P Future Trading....Hello I started trading in Futures for the first time ever this last week. (Wednesday through Friday). My starting Capital is $15,000 which I consider training money. In other words, I don't expect to make money, but probably loose it all. However, I hope to gain the knowledge necessary to become sucessfull in trading. Wednesday I lost about $1800 in about 5 minutes trading SP 500 Sept Futures. I stop for the day. The next day I found out that I could trade the S&P mini for 1/5th the price. So I did. I made $700 profit. However I paid about $701.40 on commisions/Fees. On Friday I decided because of the commisions and fees to trade SP500 again. I made $3,500 profit after all commission and fees were paid. (Basically bought short when it was at + 3). I use technical analysis, I must admit I am still somewhat a novice in it. I read many books (Market Wizards, The Future Game, Technical Analysis, etc.) and came to the conclusion that a person's personality, and his risk management skills are almost more important that to decide correctly which way the market will go. Now to the question. I am trading on line. it cost me $17 per contract. Any advise about how much I should pay per contract. Does the price seem reasonable? Any advice on Technical analysis? Everything seems so easy to see for me which can not be true. How much do I need to have in my portfolio in order to trade on a full time bases (as a career) which is my ultimate goal. I would love to chat or post back and forth with any successfull commodoty trader. Especially in the sp500. If you are one of them please post me so that I can bounce questions of you and get some advice. I am not interested in learning what the market does for that is for me to figure out. I rather learn how to fish than trying to get people to give me fish. Thanks,

To: John Pitera who wrote (29178)	7/31/1999 5:10:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

< I'll have to monitor you more closely on those days -g-> I don't post my trades as much as I used to....odds are you won't see me doing much those days. <What statistical bias have you discerned from the Unemployment Numbers?> That's a pretty convoluted issue. Each week is different but every thing sort of locks the same way, all the time. This has been posted a lot, actually. The easy part of the trade is to be Short from Wednesday through Thursday. That's usually the "given" on the week. But again, every week is different. It's just how it sets up. See you later.