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

To: GROUND ZERO™ who wrote (7973)	11/6/1998 7:38:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

I could see where that would burn someone out. I have a practice of not making more than 2 or 3 trades a day. Rarely will I trade more than that. Pretty much the same reason; too much chance for fatigue if I overtrade. I think it's rare that there are more than 3 opportunities for a good day trade anyway. Reading T. Williams' site, there are days he will trade like a mad man all day long. Must be a rather young guy.

To: GROUND ZERO™ who wrote (7973)	11/6/1998 9:38:00 AM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Good morning GZ and all Re day trading vs position trading, I am very much in your boat in that my primary MO is to position trade. I tried to day trade the futures a few years back and lost money. I view it now as something that is intellectually challenging and keeps me out of trouble -- and hopefully will start making me some serious money, in due course. As far as getting pre-occupied with trading, I understand what you are saying because I have been there in that regard as well -- and there is something unhealthy about that. I deal with it now by not trading when I have other things to do and logging off after the market closes though I do log on for about an hour before I go to bed to see what the markets are doing. I love trading and the dynamics of the markets and one needs to be careful not to let it become an obsession. I have from time to time been asked to manage money, by friends and associates who are not risk averse, and have declined to do so only because it'll put too much pressure on me. Day trading for me is still something where the jury is out -- I am ahead -- but not by much--and certainly not by enough given the amount of time that I put into it. I am very much a mechanical systems believer and I have not been able to come up with something that works in this regard -- still working on it though -- and am close to having something that looks quite encouraging. I think that day trading and position trading are different animals but one does not have to exclude the one to focus on the other -- unless it is likely to impair the performance of the one that is the real money maker. I could not get over the irony of my reluctance to go long the futures yesterday, for a day trade, before AG did his thing and yet would not hesitate to hold positions over night and thru all sorts of turmoil when position trading. Talk about emotions controlling ones actions!! Re your comments about a measured move to 1250 -- is this based on the pitchfork or some other methodology?? Bonds are moving our way -- and the yen trade is still working out. So things are looking good for now.