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

To: bernard rogers who wrote (440)	3/4/2002 8:47:28 AM
From: bernard rogers	Read Replies (1) \| Respond to of 714

Ok, I have enough. I am finished with breaking my rules betraying my plan. I have had a year of good feedback from numerous day trades It is time. For years i struggled with trying to quit smoking, and finally one day I reached my NO. I would not give in to the desire to smoke, and when i had this NO, it was not a problem anymore I have my NO now in day trading. I will follow my plan exactly and not give into those impulse trades that are so wrong. You will not see them in my summaries again I realize that to maintain this NO will not be easy, I must approach every day every trade like a ex-smoker approaches a cigarette, an alcholic a drink I must not break any rule in any way I must be centered, aware, healthy, well rested when i make each trade The plan 1. I will always trade with a defined 5ma trend I love to go against the trend. I feel myself a errant knight fighting the evil of any consistant move in the QQQ (Mike has pointed this out to me several times) 2. I will only trade clearly defined high percentage setups (lots of work to be done in this area but oddly enough its #1 and #3 that were the problems) 3. To insure that i cut my losses fast and let my profits run, i will do the following A. put in a immediate 10 cent stop, reduce that stop to 5 cents after exactly 5 minutes, and and to breakeven in exactly 5 minutes more. B. trail my stop after that at between 15 cents above, down to the 5ma, I can only exit if stopped out, the day ends, or the price moves more than 25 cents off the 5mas and stalls