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[RT] Low Cost Day Trading Method/System



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Using the method previously discussed , picked up a quick 10.5 S&P 
points early on. Figured I would take a break, do some chores and 
take a nap.

When I woke up I saw a lot of good trades that I missed but the 
market will still be here tomorrow.

The new simpler 60 min bar and breadth correlation method is still 
being refined. It looked like it would have scored with an 830 short 
but I will make sure it is consistent as what I am currently doing.

My mechanical systems are flat and looking to go long. I admire the 
systems that did not have a trailing stop and kept them short.

I committed some fresh funds to five mutual funds that in their 25 to 
35 year histories never ended the year with substantial losses nor 
had more than 3 so so years in their history. Of course past 
performance is not indicative of the future.

Onward and upward,

John



------------------ Reply Separator --------------------
Originally From: John Cappello <jvc689@xxxxxxx>
Subject: [RT] Low Cost Day Trading Method/System
Date: 07/17/2002 05:57pm


This method/system is not fancy or high tech and should still be 
considered experimental given its short track record.

Picked up 7 e-mini points today. First trade was triggerred by the 
overextension in price on all 3 time frames used and made a good 
short. The second had concurrence on its side but breadth changed and 
caused an early exit. That too was a short.

I am enjoying the fib debate not so much from whether one side is 
right or wrong, but from the various characterizations the 
participants are giving each other...carry on.I am learning a lot 
more than just about the fib...but also people. My two cents is that 
whether one chooses to call them "whatever" retracements, "whatever 
does appear to exist.

Sincerely,

John



------------------ Reply Separator --------------------
Originally From: John Cappello <jvc689@xxxxxxx>
Subject: [RT] Low Cost Day Trading Method/System
Date: 07/16/2002 04:56pm



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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