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

To: SE who wrote (19781)	3/31/1999 11:51:00 AM
From: Patrick Slevin	Read Replies (2) \| Respond to of 44573

I think your Stop is too tight. There is too much slop on a day like today not to get fried with that. I decided, because my external stuff is turning up, to chuck the plan to accumulate Small Contracts starting at 04.50 and started at 08. The next point "Should" be 05.00 but I put an order in at 02.50 I won't enter any order at 00.50 because there it starts to get dicey looking at the "straight down" pattern day. 1297.50 SPX is too tight because 1310 SP9M is a pivot where you may see swings as much as 5 points off the pivot. Better you try to get in below 1310 and offset your Stop from the Entry. A weak Entry would be 1306/07, I would avoid that area for a Buy. That is, if you can get rid of those pesky clients.