[notouch]

This website is focused on day trading the mini stock index futures but I thought we could get a bit of a discussion going about longer term trading. Looking at the YM charts it seems set up for a big weekly rally next week: a 50% pullback of the previous rally plus a dragonfly doji on the daily charts. Zooming in to the 30 minute charts high volume was coming in on the lows. To me the close of the 30 minute candlestick well above Friday's low was a good signal, confirmed end of day by the doji. So I kept that position open but I'm using very wide stops to keep me in the trade. I see maybe 500 points in a few weeks with a 100 point stop. What do other people look for when swing and position trading and what money management rules do you use? Does anyone use options? That would take away the difficult issue of stop placement but raises complexities of its own.