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In a message dated 5/11/00 1:53:49 PM Eastern Daylight Time,
sheley@xxxxxxxxxxxxxxx writes:
<< Hi Ben,
I've been having a really tough time trading this since the beginning
of the year. I've consistently been putting on good shorts, having great
profit in them and then having the price come back a bunch.
I'm short from 1426 right now from a couple of days ago. It just kills
me to have it come back so much. I've been hanging around some of
the trading chat sites listening to everyone's views and trying to decide
whether to just daytrade instead of holding on to my positions.
I thought about getting out last night and starting fresh again today,
however, looked at how we were closing and decided to hang on. Woke
up to kicking myself again this morning.
Any tips, hints, ideas would be much appreciated.
Thanks,
Connie
>>
Hello
There is no reason to panic out of being a position trader
you must believe in your system.
understand that this is MUCH less stressful then day trading
understand that you MUST adjust your stops daily
or
use options as a stop loss (like me)
I have entered my short position when we closed under the 13, 21, 34
and 55 days expo m/a
and at that time bought June calls with a strike price of 5 points above
my short entry,
since i was already at 25 points profit i sold the calls at a loss and
place stops in the future market that are at 3 points above the 144 hours
expo/ma (1425)
hope this helps
Ben
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