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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: BubbaFred who wrote (58159)	6/18/2002 8:16:11 AM
From: GROUND ZERO™	Respond to of 94695

Hi BubbaFred, I don't watch it every moment, although it is fun to watch, sometimes rather boring as well... trading futures is my business, I approach it like a business and each trade is treated in a cold blooded manner..... Once in a while I would get stopped out because of a tight stop only to find the market go my way, but to call that being whipsawed is a bad mind set... on some occasions I would use an automatic two point stop no matter what, even if I get stopped out and then watch the market go my way... it is frustrating when that happens, but my exit stops are a vital part of my entry plan, they're one and the same, so I don't see it as being whipsawed, I see it as getting stopped out... sometimes I use a much wider stop and sometimes I don't use a stop at all... I took a short position yesterday at 1033.50 with no stops... overnight the market rallied up to 1040.00 on the button, at this moment the market sold back down to 1031.50... the reason for no stop was because I expected a possible rally to the 40ish level where I would short another position at around 1047.00 so I had no problem with a possible rally, expecting the rally to fail at any time..... GZ