To: Dealer who wrote (59745 ) 11/19/2003 10:46:22 PM From: Jill Read Replies (1) | Respond to It was cool in T's room this morning. Before and at the open she was speculating it would go up, and then she made a really clean trade. I can see these trades now, I mean, I know their rationale as they are happening. So there was a red down bar and you set buy stops on a down bar, and sell stops on an up bar, and there are more rules than that but anyway, so she set a buy stop 1 tick (.25) above the red down bar; the rationale there is if it's going to power up you set your buy stop ABOVE (or in the case of shorting, BELOW) the last bar; and it "powered" up, with enough thrust that she waited the full 2 points before she got out. She usually only takes 2 points and I often see her get out of a trade that isn't powering up even though eventually it goes in her direction, but she has these rules that over the long run earn $, and they are a kind of discipline. So I don't know if she was trading a full hand (10 contracts) or half size, but if it was full size then that was $1,000 in 10 minutes. Time to pack up and go to the beach, except she stays in the room to teach.
