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

To: Atin who wrote (3264)	1/26/2000 10:53:00 AM
From: Atin	Respond to of 7434

Also, one tends to make more rigorous tests on breakouts etc on an intraday chart -- or at least I do, and so I don't play every breakout/breakdown anyway. The thing is, YHOO is volatile -- the daily chart gave you a sell signal basically. The shorter time frame got you in many times for longs. Obviously they're different -- obviously they have different uses. That's all we're saying. How you trade is up to you -- and you may not want to day trade. Even I usually buy near long term support, so I'm not really daytrading per se. I'm just looking for an optimal point to get in because I hate my stocks to be red even for a minute and I frequently hold my trades for days/weeks/months and sometimes even years. I use my intraday reads to fine tune my entries. Has this served me well? If it hadn't I'd stop -- writing QPnf is a lot of work and I'd go do something else if it didn't help me. Try it, it is free (you need a subscription to QChart from Quote.com though). And it does daily charts too if that is all you want. -Atin

To: Atin who wrote (3264)	1/26/2000 11:08:00 AM
From: Patrick Slevin	Respond to of 7434

<Same for futures > Yes, several months ago TDorsey told me that a good count for the S&P was a combination of 10 by 3, 15 by 3, 20 by 3, and 50 by 3. Even in the fast version, the 10 points by 3 box reversal, the concept of the potential drawdown before one accepted a CIT is staggering. At least it is to someone like me who considers losing perhaps over $10,000 per contract an unacceptable event.