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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (64620)	2/27/2001 12:07:10 AM
From: GTC Trader	Read Replies (2) \| Respond to of 116762

Thanks, LJ. I don't play futures, except for occasional call or put buying. This strategy sounds like suicide for option buying since you can't put stop loss orders in and since the value of the options can evaporate so quickly. Hence, call-buying pyramiding doesn't seem to make sense at first blush. It might work for stocks, say, buy 400 shares at one price and place SL. Next day, if SL not taken out at open, buy 300 more shares and raise the SL on all 700 shares. Repeat next day with 200 additional shares if you are still in the game, and finally buy last 100 shares on day 4 raising SL to just under that price. This seems like a good strategy EXCEPT for the fact that stocks that rise quickly often gap down, which could be disasterous. Thus, it seems to be a strategy only suited for futures, which I know very little about, or at least suited to more aggressive, full-time traders, which I clearly am not. I very much appreciate your post. I always love to learn strategies, even if I don't intend to try them. It is better to know more about the playing field than less. May we get a gold rally that will please all of us. Thanks again - HB