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I am a position trader. Don't think myself as a swing trader. There's a basic
philisophy
by the Phantom in the Pits (Futures Magazine) that I adhere to, that is, after
your entry
the trade should go your way, if not, get out, its a failure. Beacause , after
all, I have analyze my entry already and the timing should be right in the
execution. Once I am in
position, I let the market tell me if I am wrong. Usually I hold a week or more
unless
there is a big spike, I sell half my positions. I get out the balance at my target
projection.
So, its not a instant cash withdrawal ATM for me, more of one week bank clearing
to my bank account. I don't like to carry a big amount of cash in my hands walking
around!!
Nope, am not super rich yet, but know am getting there, just need more time to get
to it!
Jeff Caplan wrote:
> The list heard from a few "position traders" who insist they have an easier
> time of things, letting trades ride overnight. Really, I think these
> people are swing traders, staying in anywhere from an hour to 3 days.
>
> -> Is anyone earning a consistent living swing trading?
> -> Does it take *that* much less of a psychological toll?
> -> How do you deal with a period like the past couple months with markets
> gapping every
> day, in either direction...
>
> and a key question... one that's not covered in many books, because the
> topic is rather
> new to the markets....
>
> -> How has overnight trading affected the way you play the game?
>
> Thanks again, and I hope no one is seething about all these questions. If
> I'm overstepping my bounds, forgive me for trying to bleed you dry of your
> experiences. It's a tremendous help.
>
> Jeff
> ( ( * ) )
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> |X|
> |X|
> |X| Jeff Caplan WCBS Newsradio 88, New York
> |X| http://www.newsradio88.com/behindmic/jeffpat.html
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