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Bob,
I really appreciate your posts about this. I have long felt that trading
multiples of 3 was the norm for well financed traders and a key to success.
I have suspected that the 5 wave pattern was largely due to traders selling
#1 after a good move, selling #2 after a power move and letting #3 run until
exhausted. The 2 counter waves are the result of the sells and panic of
inexperienced traders.
Many trades are of course under financed big time.
May I ask if you put on all 3 at once? Some traders stagger the buys and
some don't. Also do you stop all 3 at once if your stops are hit?
----- Original Message -----
From: "Bob Heisler" <bheisler@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, January 24, 2000 8:25 PM
Subject: [RT] 3 ES vs. 1 SP - Which is better?
I received several responses about this from my earlier post so I thought I
would elaborate just a little. I would like to preface this with a couple
of comments. First, it is my firm belief that a trader should not even be
trading the stock index futures until they have been able to perform
consistently in other markets like US/SF. Secondly, I don't think these
ideas are right because they are mine (they're not) but because they work -
and work consistently.
As I mentioned earlier, I think trading with 1-lots is a losing proposition
as it puts the math of trading against you.
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