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<DIV><FONT color=#000000 size=2>I have often read about what many of the fund
managers, CTA's and other commercials do for stops and it varies to some degree,
but the same underlying principle is at work. More than anything, the
really savvy traders will first assess the math of the trade before committing
to setting a resting stop in the market. For instance, if you are trading
a unit of 3 contracts and take partial profits at certain profit targets then
you can adjust your stop in order to break even on the trade at worse. At
times, especially right upon the entry you would probably look to place a tight
stop to limit the damage, but once in the trade the stop needs to be constantly
evaluated according to the math of the trade.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Larger players will scale sell out of a losing
trade and some of the more savvy traders will actually work the order as it
breaks specific price holds. A big sp trader(say 500+) contracts has to
know what time of day and what type of liquidity the market is going to have
when a price breaks because at certain times of day a 500 lot will do nothing to
affect the equilibrium of the market, but during thin or shortened sessions a
500 lot could really move a market several handles. For this reason, I
honestly believe that the big traders will use mental stops and once those are
hit, they then have to use their trading expertise to work the order and
eliminate the awful slippage that a resting stop with size could do to their
account.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>I have also heard that the deep pockets can
really support a market during quieter times by placing bids and offers at
specific price levels and that they can buy some time before they liquidate a
larger position. It is not fiction, that many of the larger traders will
bid to offer and offer to bid, it explains why you see such accelarted price
movement into certain "magnet" areas in the market. Also, not
uncommon for the bigger floor traders to consistently bid to offer and get the
other locals into the mix only to dump a huge position on some unsuspecting
local who is then stuck holding the bag and selling back to the larger floor
trader who then repeats the process again.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Pete </FONT></DIV></BODY></HTML>
</x-html>From ???@??? Sat May 15 19:51:57 1999
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Date: Thu, 13 May 1999 22:30:10 -0400
Reply-To: "RAY RAFFURTY" <rrraff@xxxxxxxx>
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: "RAY RAFFURTY" <rrraff@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Fw: GEN: Astro-Finance, Realtraders Survey Results
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----- Original Message -----
From: RAY RAFFURTY <rrraff@xxxxxxxx>
To: <nwinski@xxxxxxxxxxxxxxx>
Sent: Thursday, May 13, 1999 10:09 PM
Subject: Re: GEN: Astro-Finance, Realtraders Survey Results
> Hi Norman
>
> I tried sticking pins in a Robert Ruben doll yesterday and look
what
> happened. I just got my Allen Greenspan doll. Bond traders look out for
> tomorrow.
>
> Good luck and good trading,
> Ray Raffurty
>
> ----- Original Message -----
> From: nwinski <nwinski@xxxxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Sent: Friday, May 14, 1999 12:57 AM
> Subject: Re: GEN: Astro-Finance, Realtraders Survey Results
>
>
> >
> >
> > Timothy Wolfe wrote:
> >
> > > This is utter nonsense...a lack of tolerance???? Oh puleeeeze !!!!!
> > > Then would it be ok to introduce VooDoo practices into a good
"Shorting"
> > > methodology??
> >
> > Tim,
> > Have you tried VooDoo in your "Shorting" mthodology? Does it work? I
> wait on
> > pins and needles
> > for your reply.
> >
> > Pointedly,
> >
> > Norman
> >
> >
> >
> > >
> > >
> > > > John,
> > > > Sounds like a very closed minded approach. If some people can make
> astro
> > > work for
> > > > trading, why not show a little tolerance. It is the lack of
tolerance
> and
> > > > flexibility that is the root of many of our problems today and
> throughout
> > > history.
> > > >
> > > > John Napier wrote:
> > > >
> > > > > Several days ago the web master asked that all you
> > > > > astrologers converse with each other privately through your
> > > > > own email.
> > > > > THAT IS STILL AN EXCELLENT IDEA.
> > > > > I don't want to start a rumble here but why don't we get off
> > > > > this CRAP and get back to sharing good trading ideas and
> > > > > information that will
> > > > > improve our trading techniques. THAT'S WHAT THIS FORUM IS
> > > > > ABOUT. Not astrology or sun worshipping or occultic signs.
> > > > > Whoever started this thing why don't you give all those
> > > > > others who have joined in with their special signs YOUR
> > > > > private email or still better, why don't you start your own
> > > > > web page just for that stuff.
> > > > > I, Like you, don't want to offend anyone..BUT you have
> > > > > offended me. So lets call it quits right now while you are
> > > > > ahead.
> > > > >
> > > > > TTrue61470@xxxxxxx wrote:
> > > > > >
> > > > > > In a message dated 5/12/99 7:46:59 AM Central Daylight Time,
> > > chmeyer@xxxxxxxx
> > > > > > writes:
> > > > > >
> > > > > > << I'm no rocket scientist, especially as it relates to quant
> skills--
> > > > > > but isn't it silly to consider this a valid sample base; and
> size? >>
> > > > > >
> > > > > > I totally agree. At the risk of getting the administration mad
at
> me
> > > I'd like
> > > > > > to point out a few things about astrology.
> > > >
> > > >
> >
> >
>
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