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List,
Don't have a lot of time to debate style and whether Arch Crawford is right
or wrong. I do know that some of the largest contributors to the forum, in
shear verbiage, don't even trade the markets they comment on. Wow!
Anyway, as a CTA, I've closed out 14 S&P positions (a couple zillion
contracts) since the beginning of the year, extracting over 525 points (13
winners, 1 loser). Tomorrow on the opening, I'm going short, closing out
the three contracts I've been long. This will push the track record to
15-2.
I use a momentum oscillator and some fibonacci derived high and low
projections to trigger my trades. I'm always in the market long or short.
I average losers up or down. And I don't use any stops.
So some of you sniveling non-traders (you know who you are) can chew on
this and work yourself into a snit about how I break all the rules. I been
breaking them since 1975 and it's been real rewarding.
I not suggesting that anyone follow in my footsteps. There are a lot of
ways to make a living in these markets. I guess I'm just a little tired of
reading the "mental traders" pontificate about markets that they wouldn't
recognize if they stumbled in the pit and criticizing approaches that they
don't understand. The "realtraders" on this forum seem to be the
individuals that are tolerant of the wide variety of styles that appreciate
equity.
Steve Karnish
Cedar Creek Trading
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