[COI Questions: 15] How much time do I need to devote to the monitoring the strategy during the day?

[JR]

There is potentially some involvement required during the trading day
to manage the position correctly. However, you should not have to be
in front of a computer for the whole trading day. We adjust our trade
when certain price points are hit. These price points may or may not
be hit on any given trading day. On some days, multiple price points
might be hit. In order to keep track of the market, I and many of my
students use an iPhone or a Blackberry. When our price points are hit,
you can either call the trade in or use a remote computer of some
kind. I and many of my students use a Netbook computer with a Verizon
wireless modem or some similar setup. When our price points are hit,
we are not burdened with having to make decisions about what to do.
Our trading plan is set before the day starts and when our price
points are hit, all we have to do execute our trade to make the
required adjustment to our position. Since we are not in a trade all
month long, the time burden is very low overall. In summary, you do
have to be available during the trading day to make adjustments but it
can be done remotely and the actual execution of the adjustments does
not take a lot of time or energy.

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