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

To: Tom Trader who wrote (1912)	8/7/1998 11:12:00 AM
From: SE	Read Replies (1) \| Respond to of 44573

Just so you know, my system would suggest a short after a touch of the 50 period ma on a one minute bar chart....which in this instance, means quite a portion of the move is over. However, if it signals a short, I will be able to scalp approx 1.75 to 3.0 points in a matter of minutes given a solid entry point. My system will tell me it is time to short and then it is up to me as to actual entry and read on the indicators at that time as to whether I will take the trade or not. Basically what I am doing is playing the moves off of the 50 ma, but using the TICK and PREM and some calculations off of those to smooth/eliminate the chance of whipsaws. It doesn't work well when the market is within 1.5 points on either side of the 50 period ma. I get whipped too much in that and will stand aside. Best is about a 2 to 4 points on either side of the ma. So.....it is a system to tell me probable direction and I pick the in and out. I will let you know if it says anything. Right now we need a pullback to 1100.50 to even start my watching...but the indicators I use would already indicate downward from here. We shall see. I will do nothing for a while.