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Re: S&P 500



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Glad you're having a good year. Trading the S&P's by simply averaging
losers is a great way to crash and burn. It's simply a matter of time. This
year has been fairly choppy so one could have been bailed out along the
way. 1995 must have been fun. I hope anyone that thinks it's this simple
does a little homework with a spreadsheet.

Regards,

Tom Alexander

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