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Jim,
Well written--
Lo knows her stuff, indeed! Combine with some candle technicals--and you
have nice reward/risk setups that don't need to win 60% or more to have
positive expectancy.
I prefer 60, and 200 minute charts.
good post
ss
----- Original Message -----
From: "Jim Johnson" <jejohn@xxxxxxxxxxxxxxxx>
To: "Ron Cernokus" <roncer@xxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, March 20, 2002 7:17 PM
Subject: Re[2]: [RT] S&P Day Trading
> Hello Ron,
>
> couple of ideas for you--
>
> I trade intraday SP's and have found I've learned most about patterns
> from:
>
> Teresa Lo of www.trendvue.com. her chat room is OK for a while. her
> Trader's Manual is very well written, clear, stripped of jargon and
> fluff. good stuff on simple patterns and how she trades them.
>
> Linda Raschke course (expensive) is very good for that. the
> StreetSmarts book is only fair for that purpose.
>
> Joe Ross's book Trading as a Business has some good stuff but is very
> overpriced i think. his setup patterns are probably better explained
> and used by T Lo above.
>
> Nisson or Morris for candlestick formations. a few basic ones are all
> lyou need.
>
> Ultimate Trading Guide by Hill, Pruitt and Hill is very good for
> patterns in the first half of the book especially.
>
> Although not geared to patterns only, Trader Vic by Vick Sperandeo has
> some good stuff.
>
> I've just begun Alan Farley's Mater Swing Trader but it promises to be
> very helpful.
>
> The one thing I've noticed is that after you strip away all the cute
> names etc, many of these chart patterns are old as the markets. Many
> of these current authors are repeating, with the help of easy-to-make
> charts the same stuff old timers like Schabacker, Sklarew, Wyckoff,
> Kerr, Dunnigan, Dow described earl in the 20th century. Candlesticks
> are even older.
>
> If I could buy only one, it would be Teresa Lo's manual.
>
> --
> Best regards,
> Jim Johnson mailto:jejohn@xxxxxxxxxxxxxxxx
>
> Wednesday, March 20, 2002, 6:47:16 PM, you wrote:
>
>
> RC> Don,
>
> RC> I also trade in the discretionary style you mentioned here. However I
> RC> feel the need for better short term pattern recognition skills. Is
> RC> there any text that you or other discretionary traders might like to
> RC> recommend for short term pattern recognition. Comments appreciated.
>
> RC> Ron
>
>
> RC> Don Thompson wrote:
> >>
> >> 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
> >> > >
> >> > >
> >> > >
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> >> > >
> >> > >
> >> >
> >> >
> >> >
> >> > To unsubscribe from this group, send an email to:
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> >> >
> >> >
> >> >
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http://docs.yahoo.com/info/terms/
> >> >
> >> >
> >>
> >>
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> >>
> >>
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>
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