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One nice thing about index futures is that they rarely open at 50% of what
they closed at the day before. In this market, it's not all that uncommon
for individual stocks anymore. You have to spread out.
Kent
-----Original Message-----
From: Guy Tann <grt@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Thursday, May 11, 2000 4:43 PM
Subject: RE: futures vs equities /was Re: Going Long
Scheier
I grew up trading futures and have been doing it for over 45 years, so I'm
more comfortable there. I've never traded equities, other than on a few
occasions and have never been very successful. Since I started trading
equities in late February and early March, my system managed to pick the
exact wrong direction for the first day of the three biggest moves in NASDAQ
history. If that doesn't give you a complex (hence my remarks about
paranoia below), I don't know what will. :)
I have to admit that I am still down about $19k since I started trading
equities, but that's my own fault. On my first trade, the bottom fell out
and I was down a ton. I closed half of my positions for a large loss. Now
if I just had the confidence of my system (I didn't touch the futures, for
instance) the trade made money. I weathered the last two and am currently
working on this one. So far, I'm currently down about $19k in total. I
look at that as being a lesson in following your system and not getting
emotionally involved. I'm able to do this with futures and I have to learn
how to do it with equities. I started yesterday, by just turning off all
tickers and TV and getting away from it.
Guy
Paranoia...you only have to be right once to make it all worthwhile!
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of scheier
Sent: Thursday, May 11, 2000 9:17 AM
To: metastock@xxxxxxxxxxxxx
Subject: futures vs equities /was Re: Going Long
Guy, found it interesting that you find it less stressful to trade futures
than
equities. You realize that this is the opposite for most people. Is it
the
capital commitment that's different, or is there some difference to your
risk
management that makes you feel more vulnerable when positioned in equities?
Scheier
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