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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: SE who wrote (1341)	6/30/1998 10:09:00 PM
From: Patrick Slevin	Respond to of 44573

A daily plan. A daily plan is something you must have before the day starts. You cannot change horses in mid-stream. You have indicators you watch with respect to the trend----back to that word again----trend of the market. You determine ahead of time that the trend (intraday) of the market is up (or down) and you estimate that the market will open on a gap down. If your estimation is that the market's intraday trend is up you decide where the gap down will stop and you fade it for a few to the upside. In other words, you have a bias one way or the other and you play that bias and don't compromise. Your idea may be that the market opens and accelerates to the upside and then sells off. So, you are long then short. If the short side does not work out you don't change horses in mid-stream. Why? You only confuse the $#%& out of yourself.