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Phil,
I understand you trade end of day position -
and I respect that.
Statistically, the sp future gaps all its gains - not trade its gains.
e.g. if you combine all the up and down gaps, we have 300+ pts in sp
last 2 yrs til now, that is the total gain we have without the trading
sessions at all.
If day trade only, then the total # of points traded up vs down
is in reverse to the gaps, at a lower rate.
in fact, trading on the short side of the U.S. index future is to a
day trader's advantage - ALL THE TIME SINCE ITS
EXISTENCE.
In fact mechanical real time short system is pretty easy to construct if
you analyze the stats/behaviour of sp first. You can make more money
shorting then buy and hold - the benchmark for a reasonable system.
-Lawrence Chan
----- Original Message -----
From: Phil Lane <patterntrader@xxxxxxxxxx>
To: <TradeWynne@xxxxxxx>; <omega-list@xxxxxxxxxx>
Sent: Thursday, February 17, 2000 2:05 PM
Subject: Re: Which holds best promise?; Big Bear !
> OK I admit it, I get a bad trade once in a while! But I'd have a lot more
if
> I ran my shorting stuff.
>
> I'd worry more about how risky it is to attempt to short a record bull
> market. Unless you're Livermore in 1929. What are the odds of that?
Leading
> stocks are still acting great, let's not kid ourselves.
>
> rgds phil
> http://www.patterntrader.com
>
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