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Tim,
Good comments from you, as usual. Thanks. I have some questions about some
of your comments below...
| -----Original Message-----
| From: Timothy Morge [mailto:tmorge@xxxxxxxxxxxxxxx]
| Sent: Thursday, August 27, 1998 8:41 PM
| To: The Funkhousers
| Cc: Nchrisc@xxxxxxx; omega-list@xxxxxxxxxx
| Subject: Re: CME Class Action
|
| <SNIP>
| And the
| guys that want to
| trade every day can't just make the wise decision to just
| not trade today.
<SNIP>
| At least we, as off-floor traders can look and say: No
| thanks. Not today. Too
| crazy.
|
How and when do you decide the market is too crazy and to not trade today?
What I am inferring from your comments is that you watch the market for x
period of time, see something that looks crazy in your trading time frame
(ATR too large, etc.), then decide not to trade "today". Please elaborate on
this...
| <SNIP>
| So, my advice, for what it's worth, is to take some personal
| responsibility for
| making the decisions you made today: You chose to trade in
| 'the market from
| hell,' you traded against the trend and against the
| volatilty, and your backups
| were not adequate.
Similarly, how and when during the day do you decide this is a market from
hell, and thus decide not to trade today.
<SNIP>
But
| don't forget to evaluate your own part in this: Did you do
| your job today?
In essense, as an experienced day trader, how would you advise people to
evaluate whether or not to trade on a given day. You may have deeper pockets
than many on the list, so please couch your reply in terms of an account
that trades 1 contract.
Thanks again for your comments and any insights you might give by replying
to this message.
Neil
|
| Best,
|
| Tim Morge
|
|