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Hi John,
Congrats on the nice tasting cigar... ;-0~~
Was wondering how your system accounts for times when the market is not so
"generous" with it's cycles and trends?
Best regards,
Gene Pope
----- Original Message -----
From: "John Cappello" <jvc689@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <MedianLine@xxxxxxxxxxxxxxx>
Sent: Tuesday, July 16, 2002 4:56 PM
Subject: [RT] Low Cost Day Trading Method/System
>
> While I am still trading almost always in the market mechanical S&P
> and Nas system, I also wanted to develop a low to no cost day trading
> system.
>
> 1. You can use Lycos to get free Nas and S&P live charts. For $9.95
> per month you can a lot more.I like being frugal.
>
> 2. The Lycos has built in indicaters and my favorite is the moving
> average volume.
>
> 3. I trade off of 1 min. , 10 min. and 60 min. bars looking for
> concurrence and I started with a $10,000 test account.I also know my
> own S&R's as a backdrop and posted these calculations this week.
>
> 4. I also check for breadth [Advancers vs Decliners]and the simpest
> way for me is to just go to the Oddball site hourly and see that
> status.If red, decliners beat advancers. If green vice versa. I
> disregard the Oddball numbers.
>
> 5. I trade with no stops because I like my entries and am not adverse
> to averaging up or down one time as long as I do not take 2
> overnight.I have taken as low as a 1 point profit and as high as a 20
> point profit. Most fall in between and are assesed on my tolerance
> which is a personal thing.
>
> Over the last 2 weeks I am up 50 e-mini points and have not taken any
> losses that were not reversed out the next day.I know that is not a
> track record but it is a start. It is just retirement fun. Sometimes
> Lycos is down and when that happens I take the day off rather than
> fight Lycos.I may just be lucky so far.
>
> Frankly, Hurst-Fourier, Pitchforks, Fibs, Ben's proprietary
> indicater, Astrology and other things posted here have been helpful
> to me from a perspective standpoint.There seems to be a little bit of
> luck or "feel" in all of these too.
>
> Once again, this may all be luck but so much of what I see posted is
> the result of conjecture or educated guesses, I thought it was time
> to share this.
>
> No doubt this can be modified or bettered by the geniuses on this
> list, but so far this simple little "system" has been fun for me. I
> trade until about 1:30PM and then go smoke a good cigar [I do not
> inhale,I just like the taste]and have a long swim... Hans Selye's
> answer to stress.
>
> Sincerely,
>
> John
>
>
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>
>
>
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>
>
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