Quote:
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Originally Posted by zenseven
Guys, Just use the system of Psytrader as a sort of second decision tool. Use your original system and stare at Psytrader's and in one day you understand what you need. System needs your discretion and support your original system.
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Zen,
100% dead on.
This system is a decision tool/guide/indicator/advisor/you get the idea.
Now that I have given all of you technical fornicators the blood lust for "all the answers in one tight package"
The answer is that you (and I) need to
relate fundamentals to this.
What do I know about fundamentals?
Ehhhemm,....thats what I came to this forum to learn.
Im asking everyone here to help me
relate this system, because if I can be between 60 to 70% successful now,...I can only imagine the posibilities if I had a grasp on world economics.
System
Put an 89 and a 144 closing simple moving average on a 5 minute chart
This system has 3 rules.
Rules
1.
Bulls live
above the 144 sma,...
Bears live
below the 144 sma.
2. 89 sma price
barrier confirms continuation of trend, 89 sma price
penetration "
suggests" reversal of trend. (when in doubt,...get a sheet of paper and write rule number 1 ten times for doubting yourself)
3. DO NOT,... ON PAIN OF DEATH,...break rule number 1
The rules are in cement,....the entry / exit will change form here to eternity.
It is my contention that the rules do not need improving,...only our ability to follow them.
Regards
PSY
P.S. if you are looking at this today and are frustrated,...its because the market is in range from 10pm est. and there are no valid trades. as of 7am.