From: Brett Barrett [mailto:brett@lucentdev.com]
Sent: Tuesday, October 21, 2008 9:38 AM
To: David Halsey
Subject: RE: Kontactr : Hi There, Awesome Website!
Cool
thanks! Glad you made a post. Ill be looking forward to any new videos and posts
you make in the future. My strategy that im trading right now at this moment is
four contracts dumping 2 at 10 and 2 to run. Once I hit my 10 profit
target I then use a trailing stop of 15. So once my first target is hit my
stop is immediately goes breakeven -5 and then the trailing stop just
follows it as I make money. This works well for me and has been working very
well in this volatile market. Basically my only risk is if I don’t hit my first
target. But if I hit my first target then Im in like flint and just sit back and
breath and just let the trade work. A lot of times my 15 trailing stop
stops me out before I hit a profit target but it works for me because I just
don’t have the stomach to watch a trade that was working for me turn around and
then not work for me. I don’t like giving my profits back J.
-Brett
Let
me know if you need any help. Your website has helped me.
From: David Halsey
[mailto:david.m.halsey@gmail.com]
Sent: Tuesday, October 21, 2008
10:26 AM
To: Brett Barrett
Subject: Re: Kontactr : Hi There,
Awesome Website!
Hey Brett, I answered some of
your questions in this post. I hope you don't mind. I didn't mention your name
or anything. BTW that you for participating.
http://www.eminiaddict.com/2008/10/hi-there-awesome-website.html
On Wed, Oct 15, 2008 at 9:20 PM, Brett Barrett <brett@lucentdev.com>
wrote:
I like the idea of never
letting a trade go against you and getting out basically at break even once you
have your price target hit. And that breakeven in your videos meant making
60 dollars. It seems with your new strategy (A Winning Trader must always adapt
to current market conditions) that if you get stopped out after getting your 5
price target hit you will get out for 0 but rack up 4 contract commission cost
actually losing money. Granted it is a small amount but a loss on the trade non
the less. I like your new stop strategy as well. But Im concearned about the
stop being moved up to breakeven -5 after first target is hit. Do you find this
gives your trades enough room to move your way? Or are you finding your stop is
getting hit more often?
Also, how many trades to you
place a day on average?
Thanks for any valuable insite
you can provide.
And man, trying to learn
futures trading in this markets have aged me 20 years I think lol in the last
month I've been placing trades. Very volatile right now.
-Brett
From: David Halsey [mailto:david.m.halsey@gmail.com]
Sent: Tuesday, October
14, 2008 8:58 PM
To: Brett Barrett
Subject: Re: Kontactr :
Hi There, Awesome Website!
Hi Brett,
Thanks so much.. It' nice to here
the website has helped you. I have change my tactics a little on that. Instead
of going out in 3rds and having a 20 point stop I use an even number of
contracts and a 16 point stop. I found that 20 was to much room and I was
basiclly watching more money flow out then I needed to on a trade that went
against me. So know I use 4 contract and a 16 point stop. I scale out of 2
contracts at +5 and my stop moves up to -5. I have a free trade and 2 contracts
to let run...
It has exploded my profits.. I have used 6 and 8 contracts
scaling out at half, but I still like the way four contracts feels..
Let me
know if you have any questions
DH
On Tue, Oct 14, 2008 at 7:52 PM, Brett Barrett <brett@lucentdev.com>
wrote:
Sender's name : Brett Barrett
Sender's Email :
brett@lucentdev.com
Referrer : http://www.eminiaddict.com/search/label/Market
Analysis?max-results=3
Hi there. I trade options on the NDX and looking
at trying to get in on futures on the YM. I love your website and videos very
educational for me and will improve my futures trading greatly. Thanks for the
work on your website. Let me know if I can do anything to help since you've been
of such great help to me. Quick question. Im trying to work out my stop stratagy
for me. I like your 3 contracts buy with stops at 5, 10 and then a runner. My
question is how do you handle a trade that doesnt go your way that has not hit
your first target. Do you let it hit your 20 point stop loss. Or do you flatten
at the point you believe its not worth it anymore. Because your risk with a 20
point stop loss is -600. Thanks and hope you and your family is doing
well.
-Brett
Barrett