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Strategies & Market Trends : Book: Hit And Run Trading by Jeff Cooper -- Ignore unavailable to you. Want to Upgrade?

To: Mark Bartlett who wrote (385)	7/15/1998 7:42:00 PM
From: Dr. Stoxx	Respond to of 438

Just bought the 5 Day Momemtum book. Very similar to my own "Befriend the Trend" method. Anyone know of a free site that calculates ADX? Anyone trading the system making money? Anyone making 1.58% per week as he advertises? It seems to me like his stops are too tight. I think returns would be increased with a larger clearance. Also, his exist strategies seem really unrefined. Anyone successfully revising his exits (why sell half of one's position when the indicators don't warrant it?). TIA, TC.

To: Mark Bartlett who wrote (385)	7/16/1998 6:53:00 PM
From: Ken Adams	Respond to of 438

Mark, I don't have a book for you. But, here's something to ponder. A few weeks ago I got together with some old high school friends at a picnic which we do each summer. One of them has been a full time trader for over 25 years. This is all he does. If it moves he trades it. The two of us were the only ones interested in the markets, so we talked all afternoon. One of my questions to him was about exit strategies. His answer? If "they" want to pay you, take it. He said he looks at very recent history for a "typical" move. If the current move has approximated that same range, he takes profit. No matter what that is. He says he usually doesn't give up much by doing that, and, when appropriate, he buys back in for another ride. My own experience is that selling is the most difficult part of trading. The psychological hang ups that go with this decision are huge. I've never seen a systematic method that is reliable all the time. You must train your gut to know. JMHO! Ken