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" or the market jumps 25 pts or 50 pts or even 100 pts against
you".........................
Could you please pinpoint the last time these three occured for you in the
ES? It has been a very long time since we've had jumps in price like
mentioned above and this almost always happens when government-based,
economic numbers are released. These releases are always known
date/time-wise. A prudent trader would never be in the market at those times
anyway. Trading NEWS is for a very few, elite traders as price will often
fluctuates wildly on these announcements. I believe the last time we had
huge moves in the ES was several years ago when the FOMC made several
unnounounced interest-rate changes outside of their very publicized,
specific meeting times.
Harry
----- Original Message -----
From: "mjs720" <mjs720@xxxxxxxxxxxxx>
To: "Charles Meyer" <chaze@xxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, May 06, 2004 12:34 AM
Subject: Re[4]: [RT] Re: DAYTRADING THE QQQs
> Hello Charles,
>
> No I trade the SP emini's but not based on a system. My type of trade
> is called discretionary. I do use some technical analysis, but it is more
> price, vol, and time of day. I'm in and out many times a day.
>
> The other traders make some good points, and you can spend all the
> time in a simulator or paper trading. But when you are behind the yoke
> of the plane or in a trade...and you get caught in a wind shear and
> get set upside down in the plane or the market jumps 25 pts or 50 pts
> or even 100 pts against you...no amount of paper trading will prepare
> you to deal with it. I'm not trying to scare you...just want you to
> also get prepared mentally to trade...that is again 90% of
> trading.
>
> Wednesday, May 5, 2004, 6:10:00 AM, you wrote:
> CM> Thank you for the favor of your valued and appreciated
> CM> feedback. This is indeed a great analogy! Do you trade the Qs?
> CM> I note this appears to be a private e-mail; but I couldn't
> CM> get your address to take so I am sending it via the group.
>
> CM> Chas
> CM> ----- Original Message -----
> CM> From: mjs720
> CM> To: Charles Meyer
> CM> Sent: Wednesday, May 05, 2004 2:21 AM
> CM> Subject: Re[2]: [RT] Re: DAYTRADING THE QQQs
>
>
> CM> Hello Charles,
>
> CM> I'm inclined to offer up a different view of paper trading. You can
> CM> read about flying an airplane all day long. You can go to all of the
> CM> ground schooling that is offered. You can spend days talking to
people
> CM> who fly and ask all of the questions. That will in no way help you
> CM> when it is time for you to climb behind the stick/wheel of that
plane
> CM> and fly it. No different with paper trading. Until you actually
place
> CM> your real trade you wont discover what most of us have discovered.
The
> CM> issue is not your system...it is you. 90% of trading is dealing with
> CM> your own psychology/experiences when taking a real risk.
>
> CM> Your true training starts with puting on real trades with real bucks
at
> CM> risk.
>
> CM> At sometime any system all systems experience downturns...losses of
> CM> real dollars. What will be formost at that moment is the question
what
> CM> will you do?
>
>
> --
> Thank you,
> MS
>
>
>
>
>
> Yahoo! Groups Links
>
>
>
>
>
>
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