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Excellent response from Tim!!!
I'd only add that I'd try the currencies (Euro & Yen) and TBonds.
They are much easier to daytrade than S&P because they are more
trendy and also, being slower, give you more time to think.
Jan Philipp
----- Original Message -----
From: Timothy Morge <tmorge@xxxxxxxxxxxxxxx>
To: <drwar@xxxxxxxxxxxx>
Cc: <jhamon@xxxxxxxxxxx>; 'Omega_List' <omega-list@xxxxxxxxxx>; 'Mark Brown'
<markbrown@xxxxxxxxxxxxx>
Sent: Wednesday, August 09, 2000 6:57 PM
Subject: Re: Best Stochastics for S&P Trading
> Jerry:
>
> I'm going to try a gentler approach: The S?P futures market is probably
the most
> difficult market in the futures arena to trade in and out of, day after
day. The
> very best traders fight for scraps in this market. There are no easy
answers.
>
> And yet, on a regular basis, this list and all of the others we all
subscribe
> to, get questions asking for the easiest way or the best way or the most
> successful way to trade the S?Ps--and almost always it is from fairly new
> traders.
>
> The truth is this: You'd be much better off learning to trade in a
different
> pit. You probably don't want to hear that--most people don't. But if you
want to
> be trading for a living four or five years from now, your odds are much
better
> if you take the time and invest in learning how to trade--and most people
new to
> trading don't have deep enough pockets to play in the S?Ps while they
learn. The
> tuition is just too high.
>
> The answers that work aren't probably very novel or even hidden somewhere.
The
> answers are within yourself, in most instances, and it's the price you
have to
> pay to learn that that wipes out most traders.
>
> Pick a few gentler markets. Make sure you have enough capital. Learn all
you can
> learn. Read and study. Post here. Read posts here. Help others and ask for
help
> when you need help. Make sure your tools are ready and that you know how
to use
> them in every situation. And most important, know yourself. Know your risk
> tolerance. Know your weaknesses, because you can be sure the S?P pit will
find
> your weaknesses about three or four times a day. Have a plan--because a
bad plan
> is better than no plan at all. Last, trade your plan and trade within
yourself.
>
> Indicators? I can't help you there, sorry. I'm mostly a guy that draws
lines on
> paper charts. But there are people here that really know there stuff if
you are
> patient and read the posts carefully.
>
> Best,
>
> Tim Morge
>
> JeRRyWar wrote:
>
> > Unfortunately for brian and other newbies like myself the heart of his
> > question
> > lies not necessarily in stochastics but what indicators to look into for
> > intraday trading the S?P. He clearly asked what else ? and was looking
for
> > some direction.
> > I wish I could answer him, but like him, I am struggling with those very
> > same issues. The answer may have been clever in its point, but it blew
off
> > the intent of his question which I read as asking for some direction.
> >
> > Jerry W.
> >
> > -----Original Message-----
> > From: john hamon [mailto:jhamon@xxxxxxxxxxx]
> > Sent: Wednesday, August 09, 2000 9:08 PM
> > To: Omega_List; Mark Brown
> > Subject: RE: Best Stochastics for S?P Trading
> >
> > brian,
> >
> > mark is a silver-tongued devil, ya gotta admit...
> >
> > but let me tell you something, although his style may lack something in
the
> > charm department, he is giving you the most valuable free advice you'll
ever
> > get.
> >
> > every time you start thinking about RSIs, stochastics etc., go lay down
> > until the feeling goes away.
> >
> > jh
> >
> > -----Original Message-----
> > From: Mark Brown [mailto:markbrown@xxxxxxxxxxxxx]
> > Sent: Wednesday, August 09, 2000 4:46 PM
> > To: Brian Keith Voiles
> > Cc: realtraders@xxxxxxxxxxxxxxx; omega-list@xxxxxxxxxx
> > Subject: Re: Best Stochastics for S?P Trading
> >
> > Hello Brian,
> >
> > BKV? Dear Group,
> > BKV? Based on your experience... what Stochastic settings are best for
> > knowing
> > BKV? when the S?P is more likely to be in an overbought or oversold
> > situation?
> >
> > here's what i would do - i would optimize the hell out of it and when
> > i get the very best numbers of the best buy-sell zone and length. i
> > would apply it to a chart and when i get a sell signal i would drink a
> > cup of hot tea and read a short magazine article out of the new active
> > trader magazine- then i would call in a buy at the market order. do
> > the opposite when you get a buy signal, thats the best way to use a
> > sophisticated indicator like a stochastic.
> >
> > BKV? Or, do you recommend RSI, LRS, or something else to determine the
> > BKV? likely state of the overbought-ness or oversold-ness of the market?
If
> > so,
> > BKV? what settings are best, and what is the most useful way for a day
> > trader to
> > BKV? interpret the probabilities?
> >
> > same apply's
> >
> > BKV? Thank you -- I appreciate these groups very, very much.
> > BKV? Sincerely,
> > BKV? Brian Voiles
> >
> > your so very welcomed and pls send check to local childrens charity when
> > rich.
> >
> > --
> > Best regards,
> > Mark Brown mailto:markbrown@xxxxxxxxxxxxx
> > Y = Offset + Amplitude * sin(Frequency * X)
>
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