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Tim:
This is a much easier trade to do when the market dosen't have the kind of
momentum that has been established or the background of the equities that
is there today. Frankly, I don't have the guts to pull the trigger very
hard when all time frames are still higher and the market that the bonds
are keying on is acting so terrible.
Since I wrote the earlier post the market cracked a bit to 14 but came back
under the t-l and the dow started down again. The bloom was off the rose
pretty quickly on this one.
Interesting comments on how you use the drives to add. I am kind of a wuss
when it comes to buying strength and would like to be better at that facet
of discretionary trading.
>
>Thanks for this look at one of the methods you use when trading for
yourself and
>your clients. When you sent me the file, my first reaction was indeed
'I've seen
>other people do something similar to this.' In fact, in less hectic
markets when
>bonds are in a well-established trend, I normally look for a pullback to
>establish a position. If I miss that opportunity, I'll buy part of a unit
on the
>move taking out the 'second drive' and if a pullback comes, I'll be adding
more
>of the unit above the area where I would establish my stoploss on the whole
>position. Again, if I miss buying the pullback, I'll buy the 'third drive' to
>get the balance of my normal trading size on board.
>
>I admit I hadn't been using an oscillator to filter the trades, but I'll
give it
>a try.
>
>Again, great post. And thanks for sharing.
>
>Best,
>
>Tim Morge
>
>
Stewart Taylor
Taylor Fixed Income Outlook
Voice: 501-219-9774
Fax: 501-228-0963
E-Mail: staylor@xxxxxxx
Web Site: http://www.cei.net/~staylor/
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