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Dear DH Unit,
Better check your calculations again. Based on your system, I get 1306,
1323 and then 1350.
1322 would be a 50% retracement of the entire down move and .618 would be
1379. I think we may see the latter number in the next month.
Cheers,
Norman
----- Original Message -----
From: "DH" <catapult@xxxxxxxxxxxxxxxxxx>
To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, May 16, 2001 6:35 PM
Subject: [RT] Follow-up on the long mini spoo trade
> Since I've been accused of being a bitter loser who doesn't know how to
> trade <g>, I thought I'd post a follow-up. This is the last trade I will
> be posting and we'll see it through until I exit. Judge for yourself how
> credible it is, along with the credibility of any vague claims made by
> others. On Monday, I wrote:
>
> > Right now, I'm long again and not loving it very much. I'm barely above
> > water and have been in the trade too long. This could well be one of
> > those bad trades and I freely admit it. Unlike certain list members, I
> > make mistakes all the time. I've got a stop loss order in today at
> > 1225.75 and, if that isn't taken out, I'll crunch the numbers for
> > tomorrow and see where I stand.
>
> The mini was in the mid 1250's when I wrote that. I'm still long
> Wednesday night and feeling better about the trade with the mini closing
> at 1288.50. My disaster stop is still 1225.75 but that's outside the
> overnight limits so I didn't bother placing the order. My profit target
> is 1316.75 and I've placed that order to work overnight and for
> tomorrow's day session. For Thursday, if the target hasn't been hit, and
> we get a 30-minute bar in the regular session closing at or below
> 1278.00, I'll exit at the market. If, after that exit below 1278.00, we
> get a 30-min close at or above 1287.75, I'll buy again at the market
> with a new stop and target. If none of that happens, I'll still be
> holding the position Thursday night and working with new numbers on
> Friday.
>
> I don't claim to have the slightest clue about what will happen
> tomorrow. Anyone who claims to know with any certainty is full of s...,
> errrr, himself. I just take it one day at a time and do what the 'puter
> tells me. Sometimes I win and sometimes I lose. On balance, I win more
> than I lose. Like the Research Unit formerly known as Mark, my goal is
> to become the DH Unit formerly known as Dennis, with all the emotion and
> guesswork stripped out of my trading. I don't have any interest in being
> "right" and I certainly have no interest in bragging about how "right" I
> was. All I care about is watching the account grow. I'm wrong lots of
> times and I try really hard not to let it bother me. It's just a cost of
> doing business. This is a statistics game and the best we can do is
> stack the probabilities in our favor and trade small enough that we can
> survive the inevitable drawdowns. One thing for sure, I couldn't care
> less what the planets, tea leaves, or animal entrails say. Any method I
> use must PROVE its worth through rigorous statistical testing. No stats,
> no trades. Simple.
>
> Don't bother asking how I calculate the numbers. All I will say is it's
> 100% mechanical, with price as the only input, and it's not for sale. Do
> your own research. There are lots of ways to make money using only the
> data you can get from your quote service.
>
> --
> Dennis
>
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>
>
>
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>
>
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