There are, in fact, other systems that have the stick-to-it-iveness of Larry's system, of course. Even parabolic SAR has stuck to the trend. With SAR, you would have bought the Naz 10/3 and still be holding. So far, there's been no sell signal.
I find Larry's analysis and trading to be outstanding because he doesn't waver; he doesn't depart from his system. Also, he doesn't try to predict the market; he simply trades based on the system. And he doesn't get involved in debates over the outlook for the market; in his system, it's simply irrelevant. Further, he doesn't care whether he misses the low point or high point in a trend.
Basically, if you've read books on how to trade successfully, Larry is following all the basic rules -- rules that can be extremely difficult to follow in such a volatile market -- in any market, in fact. It's the sort of trading that comes with experience and wisdom. I admire him greatly for it.
This doesn't mean that Larry's system is for everyone. The rules are, though, if people want to avoid gambling. People need to find their own technical systems, and follow the same basic trading rules.
It's not about finding the exact top or bottom, not about predicting, and not about second-guessing indicators. Larry's sharing a lot of wisdom in his notes. This doesn't mean he's a guru, either. People have to find their own systems, and learn through their own experience how to follow the rules.
Now what was that all about? A paean to Larry. I must be channeling. It's just good to see such good trading -- rilly.
Three kids just came to the door dressed as a candlestick formation. "What're those costumes?" "We're a morning doji star." Kids -- they're growing up too fast these days. |
