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Strategies & Market Trends : E-Mini Pit -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (551)	2/14/2002 4:38:40 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 11288

Bears are long gold stocks. <vbg> eom

To: the-phoenix who wrote (551)	2/14/2002 5:17:29 PM
From: ToTradeWell	Read Replies (1) \| Respond to of 11288

I wish I could have traded ES today, but due to schedule I had to sit it out. I plan on trading all day Monday and will try to post more. Sorry about the computer problems. I'm running NT4.0 on my J-trader computer with no problems. NT 4.0 is really cheap right now and it's as stable as a rock IMO. It's good for older computers that may not be hardware compatable with Win2000 PRO. Next week I'm going to the Money Show in Orlando. There will be quite a few emini traders there and I'm hoping to learn a few things. Other than the future traders, the place will be crawling with salespeople wanting to sell me their fund. I'm gonna do my best to keep my mouth shut. moneyshow.com

To: the-phoenix who wrote (551)	2/14/2002 5:22:42 PM
From: Dan Duchardt	Read Replies (3) \| Respond to of 11288

Pheonix, Went short again when the lows broke, only to watch it run right back up This has been absolutely the surest way to lose money I have found in the last few months. I don't now if anyone has the tools to back test this, but it's been a killer for me. Shorted NQ at 1409 on Friday after the gap failed and decisive break of Thursday's lows. Watched it try to break down for 2 more hours before getting run over by the train. I know some of them go, but when they don't they can hurt big time. Dan

To: the-phoenix who wrote (551)	2/14/2002 5:58:18 PM
From: UnBelievable	Read Replies (1) \| Respond to of 11288

Stress, Pain, and Frustration - My Life as a Futures Trader While making a little money helps a bit, the stress, pain and frustration inherent in trading futures is significant. The fact is the market is dominated by the commercials. They have invested significant time and money researching how to let the traders take as little as possible. Part of that strategy is designed to create frustration and excess confusion. In addition, since we must trade in the context of uncertainty, the quality of a trade is dependent on its “statistical” expected value, not the actual return realized. We however do have the ability to judge the trade, in the certainty of hindsight, primarily based on how much money was made. In hindsight, just about every trade is bad. Either it is a loser, or even if you made money, probably, a fair amount was left on the table. And if that were not enough, the technology infrastructure that we depend on is not very robust. While I have found that it is very important to have very good systems running on properly sized equipment and bandwidth, shit seems to happen every once in a while none the less. I have found that it is very easy for a technical problem to take me out of the zone, and very difficult to find it once lost. I was watching a show about the 10 greatest natural wonders on the earth. One of them was Mt. Everest. They showed some clips of climbers. To me it was ridiculous. Freezing, not enough oxygen, crevasses everywhere, ice on all the paths, and then there were the dangerous parts. All I could think was why would anyone do that. I guess for the same reason that people trade futures. Managing the stress, pain, and frustrations are probably one of the most important skills for the trader to acquire. If I ever do, I’ll be sure to post how it is done. <gg> As much as I dislike the Banksters and MM’s (Market Manipulators) I have come to understand that they don’t cause me to loose money, I do. While I think there are good reasons to trade, I don’t think that making money is one of them. There can be no doubt that there are much easier ways to make a living. But if you like to be challenged, stay with it.

To: the-phoenix who wrote (551)	2/14/2002 8:32:04 PM
From: Susan G	Read Replies (2) \| Respond to of 11288

Phoenix, I've barely posted in days as I'm in DSL hell. The connection keeps dropping and interferes totally with my browser and futures interface when my charts are streaming. I've ordered cable for monday so I have a backup. Since my cable also went out for an hour today I think I need both! Worth the $30 a month if your access going down can cost $$$$$$$$. I went short at the open, didn't cover on the drop and got stopped out break even. Shorted the top of the range again at 1508 and held it all day long,added when all the indexes broke down. Still holding a few but the NQS are creeping up as shorts cover. The reopen plunge was intersting after the Dell news. I think 1840 COMPX is the line in the sand tomorrow. I was amazed how it held today as the DOW was tanking. Let's see if it holds tomorrow... I don't think so. Hilarious you called me a bear, I was a perma bull until recently <g>