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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 (12315)	1/10/1999 7:44:00 PM
From: Patrick Slevin	Respond to of 44573

<VERY few people like Pat (even he has a pattern type system) that can go seat of the pants. > Well actually it's very rare that I trade something that does not have a high probability of success. For example, you sold the gap on Friday....historically that had a 90% success rate. It seems many times that I am buying or selling based on "sense" but usually that is a sense developed from experience. Like if I see a selloff with a steep rate of decline of perhaps a 75% angle then I know without even checking that historically there will be a bounce of at least 37%. I guess it's just knowing what should happen based on feel but that feel is based on previous activity, it's just that "when this happens, then that happens....most of the time" sort of thing. You knew to sell the gap......that was feel. I'm sure you will say that the books you have read probably told you that selling that gap was a good idea but you knew to do it....that's intuitive. It's not systematic.