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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: SE who wrote (41870)	12/7/2000 9:27:07 AM
From: Chip McVickar	Respond to of 44573

ES0Z getting nasty these days. Another 15 points in 6 min for the pre open market. My paper trading over on the Players Thread suggested that the Mini was best traded positionally for approximately 3 day periods, but your entry's needed to be well schooled. After 3 days it can at times be traded for 5 day trend, but rarely more then that...! When the 5 day period is continued it will keep going for a lot longer cycle, 15-20 days. This reminded me of Tom's 50 point exit, and suggested that time also should play a part in position trading tactics, not just price. I've also discovered that bars in any chart time frame travel in 3 and 5 bar patterns. Count them up, and you'll see what I mean. Any Chart, Any Market, Any time Frame. This may sound like hearsay to scalpers (Hi Nemer), but my conclusions suggest that short-term position trading is not much different then scalping or day trading, just requires a different set of bars. I've taken to looking at the 120/240min charts. The secrete is in grounding your mind to a set time frame.