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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 (2280)	8/21/1998 11:17:00 PM
From: Patrick Slevin	Respond to of 44573

Well my prior post was not meant to be overly critical.....just a reality check as you say. A 7 point loss in a day trade is a bit extreme. I sometimes do it myself but it is only when I am trying to position. Normally, a position that moves your way should be tightened. I think I recall your position moved your way then reversed. A small loss is acceptable...if you know what I'm driving at. I think you were playing the day-trade almost as if it were a position trade.....kind of "reaching" for a bigger hit, so to speak. Just an opinion. Recall, you are not trying to do anything other than scalp....you had/have a position trade on already, yes?

To: Tom Trader who wrote (2280)	8/22/1998 2:47:00 AM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 44573

Tom; RE:" the easy way " I do so enjoy watching a pro, Tom; they make things look easy. >"The essentials of any good system include trading with the trend..." About a year ago, when I was just beginning to trade the indices, I was discussing a failed OEX short position with Nemer, and he wrote back something like, "you gotta trade in the direction they want to go, pardner!" You are a brilliant position trader, Tom - and I have learned a lot from you. Consider what position you would have held from Wednesday to Friday... I'm sitting there looking at the daily chart, and marvelling at the skill it took to make money on the long side from Wednesday to Friday. The (incredible, really) long scalping trade you executed this week was a beautiful thing to behold, but it was against the trend - you made money the hard way. You and Pat et al are down there in the tick-tocks, man (^_^) so Pat's experience with pushing the STOPs w/scale makes good sense, especially when the market is "fast", as you observed and commented upon; push STOPs w/speed. My deux centimes is to push your CHAIR back a meter or two from your trading screen, and get that feeling for the 2-3-4 day sentiment, so you can make money the easy way again (^_^) -Steve

To: Tom Trader who wrote (2280)	8/23/1998 2:47:00 PM
From: MJB	Read Replies (1) \| Respond to of 44573

Interesting thread. Some fascinating data and strategies are found on the website <http://www.titantrading.com> . Hope this is useful.