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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (1423)	11/23/1999 9:15:00 PM
From: Matthew L. Jones	Read Replies (2) \| Respond to of 7434

Thanks for the detailed responses. Typically the more trades, the flatter the day. I'm trying to find a way to just stand aside and not miss the big moves in the process. You are absolutely right that I'm working too hard. Staring at the screen (always focused) is tough. I'm running probabilities, looking at resistance and supports, watching the price action, etc., stochastics, extent, duration, etc. I won't enter a trade unless the odds are 3:1 in my favor and the reward is at least 3 times the risk. Three point move and one point stop (for example). I just need to filter out the junk. I use the price crossing the 10EMA5 as my entry (assuming the slope is going the right way and the odds (extent and duration) and risk reward are within my criteria. I would much prefer to trade 2-3 times a day. I have software that will give me signals (even if I'm away at lunch), but those signals need to come much less frequently, IMO. I always catch the trend (assuming I'm paying attention). I should say, I always have the opportunity to catch the trend. But I catch a lot of guppies too, and wind up using up my bait waiting for the big fish. Anyway, I appreciate your input. I think that you hit on it when you said I need to trade less. I need to work on my system so as to only catch the major moves. Even if I'm a little late to the party, I can still do OK if I just don't waste money on the losers. I'm headed for Tennessee for Thanksgiving, so I'll talk to you next week. Hope you and yours have a great holiday. Thanks again. Matt