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

To: Tom Trader who wrote (39595)	10/29/1999 9:48:00 AM
From: Gersh Avery	Read Replies (1) \| Respond to of 44573

Thank you Tom .. If you wish to stay up to date with quality of my work, you should hit the e-mail link on the page .. otherwise the address will vaporize. Again .. thank you and everybody that put up with my stuff. At this time I'm glad that I'm out of the running .. I seem to have cluttered up this thread for a few days. Now that I'm not watching every tick on the charts I can become more focused on getting the quality up. FWIW Gersh

To: Tom Trader who wrote (39595)	10/29/1999 9:58:00 AM
From: F Robert Simms	Read Replies (1) \| Respond to of 44573

Tom, thanks for the comments about money management. I am telling myself that gunslinging may be a common newbie mistake that most have to go through. It is great that we have this contest to see it's folly. Best Wishes, Gunslinger Bob

To: Tom Trader who wrote (39595)	10/29/1999 11:43:00 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 44573

Tom, As the contest is set up it encourages participants to Max-out equity balance to keep up with the leaders and smash the glass ceiling if you have the ability. Isn't that the nature of contests and competitive contestants? <<smile>> And there is of course the all expenses paid trip to Mrytle Beach....where is that in Florida anyway? If the greater intent is to reflect live trading, and I believe this was the intention, then money management must be apart of the rules. Perhaps restrictions could be placed requiring a certain percentage of daily equity base be maintained in the account. Example: Start $250,000 maintain 50% -- tradable 50% New balance $200,000 maintain 35% -- tradable 65% New Balance $325,000 maintain 65% -- tradable 35% Something along these lines...? I don't know....there are pro's and cons. Another way, require a certain percentage be removed after reaching some predetermined amount. However, I know that my trading style is exactly the way I would trade if my live account were $250,000 dollars....Except....Instead of 10 contracts I trade 30 to break the glass. Trading 30 contracts yesterday was margin of $375,000. Trading 20 contacts over night was $500,000 margin. Not something likely to occur with a live account of $461,000. This is creating a mental perception of very aggressive and dangerous money management for a Live account. With a live account my success would require money management and would suggest the removal of about 50% or 75% of profits at some point. With $461,000 [10/28] I would be removing atleast $100,000(50% of gain) from the active account for a cash reserve. Leaving about $361,000 to trade. It would probably be even more? Maybe when the Oct leg of the contest is complete an adjustment could be made. I hope the strong professional traders like Pat and GZ would stay with the contest? They are an important part of this excellent "contest" put together by you and David. Chip

To: Tom Trader who wrote (39595)	10/29/1999 12:04:00 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 44573

Tom, I agree with your philosophy of smart money management... God knows, I would never trade in my real account the way I trade in this contest, but I think the contest also encourages one to become a bit more aggressive than normal... that's what a contest is to me... to test the limits of your abilities against others who are doing the same thing.... a good race..... GZ