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Re: [RT] S&P Day Trading



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John,
Your first catostrophic stop loss is $3000 or 12 S&P Points?  Whew.. that
takes  alot of balls to trade that level of
a stop.  My inclination is to get it down to two points or so.. no more than
that.  I can see you might have to make
a system do this kind of  stop loss if you aren't looking at the actual
prices during the day trading it.  The
day traders I know who are successful don't have more than a 2 point stop
loss and when in doubt they get out
at 1 or .50 at best. But they are purely discretionary traders that work off
of price and pattern.


Don Thompson
----- Original Message -----
From: "profitok" <profitok@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, March 20, 2002 1:52 PM
Subject: Re: [RT] S&P Day Trading


> hello john
> I can not see how you can make money if your profit objective is SMALLER
> than your stop loss
> nice day
> Ben
> ----- Original Message -----
> From: "John Cappello" <jvc689@xxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, March 20, 2002 6:44 AM
> Subject: [RT] S&P Day Trading
>
>
> >
> > My system has not performed at max this year so far and I am doing
> > adjustments to current market conditions mainly related to psychology
> > of the market and ranges. I am still trading it at a low contract
> > levels 5% of asset allocation. After debugged will step up.
> >
> > Adjustments being made.........entry and exits not limited to Level 2
> > and 3 Supports and Resistance.
> >
> > Widen trading ranges..............expected today [1179 to 1183] sell
> > points [1165 to 1169]  buy points. No trade if total range beyond
> > 1183 to 1165 at open.
> >
> > My personal stops are $3000 ; min profit target $2000 ; trailing stop
> > once $1500 profit reached is $750 ; MOC or OCO if tweaked.
> >
> > John
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
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>
>
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>


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