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

To: virtualsignal who wrote (44220)	3/15/2001 7:59:20 AM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 44573

VS - will sign up for the one week test one day. They have a $70/mo. service also (300 tickers vs. 600) interquote.com Still playing with ensign/eSignal. Also had some baaad experience lately with overtrading. Was waiting for a confirming move and finally entered my trades at a retest before a change of direction. Then cut the losses...at the change of direction. Had puter and (or) Internet fall-outs at the wrong moment, couldn't close a position. Now only entering a trade if I am "sure" to have 3 minutes (reboot/relog) time to still exit with a profit. Learned the dangers of a cancel/modify order resulting, not in a position close, but in a reversed open position. Noticed also hat when the market goes to my direction, I mostly am right for the day. Problem is to decide to: whether stick yo my opinion -no matter intraday losses which can be huge- and ultimately be positioned for the expected move, or cut my losses fast (coz. I might be wrong). Decided to cut the losses very fast for a while (whithin the same minute as tonite). it dramatically improves the statistics. Didn't traded yesterday as I was short in the Globex session. Made my day before the open of broad markets. I had conflicting signals through the session and only enter new positions when all of them give green lights. Currently 3 to 7 trades a day. Today will be completion of my second month of trading the real thing. (Did some paper trading before, but this is real BS: you always get filled). Most markets beeing (yet again) at break points (up or down) I won't be trading much today. Nite session on the futures, at first sight, indicates that they are topping.1190, 10 pts above a bunch of s/r levels, fibs and indicators.13 pts above fair value. "Should" be down at broad market open, but wouldn't bet on it. (short term cycles expect a rally to start today or tomorrow, going into April. Dunno.) A clear break below 1180 could send us to lower lows, but at the other end, I also have 1250-1264 as resistances. That is a $5K range and we are in the middle of it. Not the kind of odds I like.