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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: wilywilly who wrote (38917)	3/14/2007 3:59:02 PM
From: Ken Adams	Read Replies (2) \| Respond to of 39683

I usually don't enter the stop. I think I used a trailing one point stop a few months ago, but if the day is volatile, you just get whipped. My stop depends on the number of contracts I'm trading. I trade between 2 and 5 most days. If trading 2, I'll give a little wider mental stop. I watch each trade minute by minute. Trading 5, less than a point. A loss of 1 point with 5 contracts will set your account back $500. It can happen in seconds. I really try to get in on short trends, usually. Until a few weeks ago, the length of a typical trade was in the range of 5 minutes. Often settling for less than a point. However, a week or so ago, I stayed in over 5 hours and took out more than 13 points with 3 contracts. Nice day, that!