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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (5443)	11/15/1999 4:40:00 PM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 18137

Yes I trade price action, not setups. I prefer "new style" T/A (computer generated indicators and oscillators) over "old style" T/A using wedges, flags, pennants, break-outs, double tops (bottoms), head and shoulders, cup and handle, etc. Yes, I trade the e-mini. Execution is good. Today was horrendous! I got whipped out of nearly every trade. Had no real trends all day. The day range from high to low was only 8.5 points. I use price crossing the 10EMA on a 5 minute chart. The EMA must be sloping up (long) or down (short). Generally works pretty good. Not today! I gave up 13.5 points in slippage and stops. Worst trading day since I started trading the e-mini. My system has to have trends to work. It works (barely) in wide range trading days. It doesn't work worth a hoot in tight range days like today. I should have gone to the movies <g>. Thank goodness I use tight stops. I screwed up placing three different trades (I'm embarrassed to admit). I'm using a new trading platform and closed a short twice today by selling! Then ten minutes later I see I'm short not one but two contracts! Unbelievable!! One of those days, I guess. Probably range trade tomorrow too. Everyone is paranoid awaiting the Fed. Matt