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

To: Jerry Olson who wrote (3541)	2/12/2000 10:03:00 AM
From: Patrick Slevin	Read Replies (2) \| Respond to of 7434

I'm less of a daytrader than most, to be honest. I just try to catch 1, 3 trades a day and quit. I think if you were to look at a series of charts, intraday charts with 5 minute bars, you would get a sense that most days have no more than 3 good trades and usually no more than 2. That's along the same lines as what you are saying. In your case the time frame is a month and you are looking for 1, 2, 3 trades. I believe that the same pattern holds across all time frames. In other words, if I can I.D. a pattern that travels through a day that has two trades in it, then a similar view can be taken of a week. I do this for weeks, as well by the way, and it's true. So taking it to the next level such patterns can be isolated for months as well, I'm certain. Because of the arcane nature of the way I look at it, I think I would have to create my own calendar month, using perhaps 13 month years. But that's neither here nor there. It's still a time frame encompassing roughly 4 weeks. In retrospect, now that I've typed that, it makes a lot of sense to me because the timing of the months could be tuned into lunar months, of which there are 13 during the year.... Drat, here I go off on another project. Just what I needed. Discipline is important. We were just having a conversation on P-Mail about timing even for position trades. Lets say I wanted to Buy a stock and hold it for years and I picked Friday to buy it. Does not mean I would just Buy it. I'd still try to get the best price and for that having the discipline of day trading helps quite a bit. Anyone can decide that they will buy the damn thing but there is more for your head if you can study it and decide what price you will be willing to pay----even though the goal is to hold the position for years. That helps discipline a lot, if even for the very Long Term Trades you get picky about the quarters and eighths on your entry and stay away from Market. You are going to miss some. Still in all there is no sense in doing a lot of work deciding that you want in, then go brain-dead on the actual transaction.