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MY FRIEND WROTE....................
<< Geez, I don't think this can be answered without addressing all
the other factors in your trading strategy. Such as:
- How frequently does your entry technique put you into the
market? If it waits for the "perfect opportunity", that only
comes along once a week, then settling for 1/2 point isn't
going to pay the rent. If you get signals every hour, then
MAYBE you can overcome slippage, commission, error, etc with
1 to 1/2 point per trade - but, I doubt it.
- How accurate are your signals? Trading with less than a point
stop-loss is pretty tough. Even with a great signal, it's rare
that the market doesn't retrace at least 1/2 point from your entry.
- What commissions are you paying? Entering on limits, or at
market (effects slippage)?
- etc, etc. There is no "right answer" to S&P daytrading. But,
in general, I'd be skeptical of the small sizes of both your
target and your stop-loss. From my experience, you need a LOT
more room at both ends. >>
Thanks, I think YOu are right that trading S&P 500 Futures DAILY requires more
ROOM at both sides so that I won't get out just before the nice Uptrend starts
and also loosing a much bigger rally then I thought, which got cut be eraly
profit taking.
Now, dont YOu Think It would Be good Idea to just get out of HALF of my
positions so that I will still br able to catch that BIG ONE Coming Up
(hopefully :)) ??
Anybody any comments please ...]]
Tnanks
Thomas.CA
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