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

To: Jack of All Trades who wrote (4389)	4/13/2000 8:26:00 AM
From: Patrick Slevin	Respond to of 7434

At times I was Long the Large, other times I was trying the Small. I have a habit of using more contracts on the second try if the first try blows up.....depending of course on whether I'm still optimistic about the direction. So all in all the day was a wipeout. To a degree, I should never try to position a trade unless it's become rather "safe" in the sense that I have a large cushion and I'm still optimistic about the direction. But I have trouble with the concept because it "works" so infrequently for me. I would like nothing better than to take the occasional easy day, moving stops and watching occasionally. But it rarely happens that way. Most of the time I try to predict the breakout to a trend and get kilt. It's really foolish because the sideways markets are easily traded, most of the time. Screws one up when Long Options, but easily traded using contracts.