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fletch
----- Original Message -----
From: Steve Karnish <kernish@xxxxxxxxxxxx>
To: List <realtraders@xxxxxxxxxxxx>
Sent: Tuesday, August 17, 1999 11:19 PM
Subject: S&P 500
> 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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