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Strategies & Market Trends : trading the QQQ -- Ignore unavailable to you. Want to Upgrade?

To: bernard rogers who wrote (414)	2/26/2002 10:08:49 PM
From: hypostomus	Read Replies (1) \| Respond to of 714

You and I would make a great comedy team. Re your 10:30 trade, I went long at 10:34 for 2 minutes at 34.806. I just happened to be randomly right on that one. My trade reasoning was based on my current practice of putting +/-1.4% and +/-0.4% channels around the 75sma in one minute bars. Often if price exceeds the wider channel it will regress to the mean (the 75ma). Your 10:56 trade was a beauty. From my point of view that worked because the 75 ma (the 15 ma in 5 minute bars) was reliable resistance, as it often is. Re your 12:24 trade, on my chart that was a case of price crossing the 75ma, which in my opinion is unreliable. Re your 1:19 trade, the comedy tag team strikes again. I got in just as you were getting out, except this time I was the one who was wrong. Re your 1:27 trade, on my screen that was a bad risk because price and the 15ma were about to bounce off the 75ma. NICE, NICE trade at 3:19. Throw up the +1.4% channel around the 75ma and see why. I didn't have the courage of my own convictions on that one. I don't have any particularly clever trades to offer up, so let me show you an instructive failed one. At 1:54 I went long at 34.84 because the 75ma had been providing support. Surprise! My system said that should have been a safe trade. At least I got a new rule out of that one as compensation for my loss. I notice you're trading larger. Any particular reason why, if I may ask?

To: bernard rogers who wrote (414)	2/27/2002 3:24:02 PM
From: bernard rogers	Read Replies (2) \| Respond to of 714

Gross profit $172 - $80 commissions net profit $92 excellent day to show the bad effects of taking a profit too soon (FEAR) and then trying to call the bottom These tendencies will prove disastrous in the long run quiting early before i give it all back febuary 27 2002 500L 35.09 10:14 c 35.16 10:17 $35 your exits suck, go out with a limit order, strength is not going to dissipate immediately, stop this running out of a trade. It is FEAR 500S 35.11 10:27 c 35.18 10:32 -$35 500S 35.285 10:36 c 35.20 12:02 +41 You are losing it, slow down, without self control you have nothing selling into strength, why don't ever fight the 1ma and 5ma again always wa for the break, and return 500s 35.29 1:02 c 35.42 1:16 -$65 The trade seemed ok, i pushed some but should have pushed it more The failure is that i did not get out when it went against me. Every trade should have a breakeven stop within 7 minutes. This is a very difficult rule but it must be followed exactly 5sto was bad always watch it 800s 35.36 11:25 c 35.07 11:39 +$232 FEAR in exit, follow your exit strategy 400L 34.735 2:02 c 34.79 2:08 $22 600L 34.49 2:19 c 34.426 2:45 -$40 400L 34.215 3:09 c 34.16 3:14 -$22