[notouch]

I agree ST that that 12600 area looks key. I think's it's going to be a slow drift up more than a sharp break. We closed strongly today so my position is still open.

I agree with you, NihabaAshi. The key thing is not to get hung up on the points that you're risking but instead focus on the percentage of your portfolio you're risking and for what potential gain. Long term trading allows you to keep a much cooler head and make much stronger decisions in terms of risk/reward and probability of success.

Torero, great idea to diversify your portfolio. I think that's the key to successful position trading. At the moment I focus on currency and stock index futures but I see oil, gold, agriculturals and fixed income futures as good products. The liquidity on CBOT's 10 year note is amazing. I want to reach the stage where I have maybe 5 long term profitable positions open at any one time and instead of just focussing on one or two markets I'm constantly checking the daily charts of a range of markets looking for long term set ups.