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If you are going to risk 15 points trading the full size contract then you
should probably be position trading to take advantage of the longer runs.
Personally, that's not my cup of tea so I day trade because I can limit my risk
to around 2 points = $500. Although I use a standard methodology, I don't use
indicators and I do enter/exit on a discretionary basis. People with really
great day trading systems don't sell them, they trade them so you are unlikely
to buy anything which will work on a long term basis. If you want to day trade
successfully, you need to learn to read the price action.
Earl
-----Original Message-----
From: RONC2@xxxxxxx <RONC2@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, August 26, 1998 8:08 PM
Subject: Daytrading:Todd Mitchell
>Last week I took my first try at daytrading the S&P. Lost about 15 points
>trading the full size contract, scaled back to theE-mini and gained 4points.
>The knot in my stomach has since loosened and I feel that my self training
>through study of various texts and the intraday charts has not been enough.
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