Re: [RT] Day Trade the emini?

["Mike Brett" <mbrett@xxxxxxxxx>]

Earl,
 
I agree with your statement below regarding trading and 
psychology. What have you found helpful to guard against the psychological 
pitfalls that seem so prevalent for traders?
 
BTW, thanks for sharing your execution 
techniques.
 
Mike
 
----- Original Message ----- 
<BLOCKQUOTE 
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  Earl Adamy 
  
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx 
  
  Sent: Friday, November 09, 2001 8:43 
  AM
  Subject: Re: [RT] Day Trade the 
  emini?
  Trading is 90% psychology and 10% technique. Thus, aside 
  from buildingenough confidence to pull the trigger the first few times, 
  paper trading isof relatively little value. Thus, you are wise to impose 
  the 2% limit.Some techniques to reduce your emini slippage:a) 
  use electronic order entryb) use limit and/or stop limit (.25 spread) 
  orders to enterc) use stop limit (20* handle spread) orders for 
  stopsUnlike stop orders, stop limit orders are held in the exchange 
  computers andare the first to be triggered when a stop price is hit. This 
  is something Ilearned from my exchanges here with John Lothian(<A 
  href="http://www.pricegroupetd.com/)">http://www.pricegroupetd.com/) and 
  the use of stop limit orders has reducedmy slippage 
  significantly.I use .25 spread on entry to controls slippage (I have 
  never missed an entryand rarely get the .25 slippage) and the 20* handle 
  spread on stop loss togive it plenty of range for execution to insure I 
  get out.20* handles in the emini is the approximate maximum spread 
  between stop andlimit on stop limit order which will be accepted by Globex 
  without rejectingthe order. The exact rules are not disclosed on the CME 
  pages and do notjive with the quarterly 
limits.Earl






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