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Ron; A 2 point stop in the S & P's, I wish I could
fade your orders. If it goes down 2-3 points from my
entry point and that is all i consider myself lucky.
It can drop 2 points before you hang up the phone. If
your stops do not get hit much on 2 points you are
close to the optimum system.
Norman:
You sound more like a rooster.
Norman E.
nwinski wrote:
>
> Ron wrote:
>
> > RT's,
> >
> > Iam a very short term scalping type Index trader currently trading
> > with an online brokerage only been with them two weeks. My account size
> > is 8K. I want to be able to trade Dow contracts but they require a 5
> > lot order. No one lots. They charge $15 a turn on mini's. So if you
> > want to do 2or3 contracts at a time and go in and out 3-5 times per
> > session commissions become the killer running between $100 - $225 per
> > day. Thats too much daily overhead. Then of coarse you can trade the
> > regular SPX for $20 a turn but you have too risk around $500 to use a
> > 2pt. stop and thats 6-7% of your account equity. Its hard to trade in
> > an emotionally grounded clear fashion risking this much on each trade.
> > I know there's Timber Hill but no Dow or SPX capability e-mini's only.
> > Any of you veteran traders out there got any ideas???
> >
> > Greatly Appreciated..........Ron
>
> Ron,
> You got alot more guts than I do. I wouldn't want to trade any mini
> index product with less than
> 30K in my account and that is allowing for my 25 years experience. I would
> suggest to beginners to have 50K in their account. I also think that one
> should have minimum profit targets that properly
> cover the risk involved. I think someone trading E-minis should shoot for a
> minimum $6 swing and
> try for at least $10 as an average if daytrading. Short term position
> traders should try for 4% or more
> of the underlying value on a swing. This minimum profit margin parameter
> will keep you from trading too much for too little.
> Any other chickens out there or is it just me?
>
> Cluckingly,
>
> Norman
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