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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (14261)	9/24/2001 6:59:48 PM
From: OZ	Read Replies (1) \| Respond to of 18137

Today feels so much like the day after the low in 98. The breakaway gap and the close are even almost the same size as the ones back then. Even the volume characteristics of the days going down and the climactic bottom combined with the proportionately reduced volume on the current up day. Seems like a great place to start climbing a wall of worry after sliding down a wall of hope for so long. I know and heard of many "regular" mom and pop type "investors" that reallocated their portfolios last week and I find it very hard to believe the market is going to reward them so easily for doing that. Oz

To: TraderAlan who wrote (14261)	9/24/2001 7:19:10 PM
From: booters	Respond to of 18137

First of all thanks for including me in the " good traders" group, and yes I do have a plan. My entries are very seldom at a point when the market is running and therefore I have very little slippage. I would caution any new trader in the E-minis to be very sure you have a good plan and understand it well before using market orders on a regular basis. If I am late on a trade or my signal does happen to be during a market run the slippage can easily be 2 or 3 points. I have learned to avoid most of these, plenty of opportunities without starting off with one foot already in the frying pan. Market orders should be used less and less the more often you trade. If your system or plan trades 20 times a day as an example, I would suggest you try and redesign the rules to use a stop order on at least one side of the trade. For the newbies that may wonder how bad can it really be I will tell you I have had a market order slip over 100 points when trying to exit a trade. boots