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Strategies & Market Trends : Classic TA Workplace

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To: oexchaos who wrote (127388)	12/23/2005 12:21:38 PM
From: skinowski	Read Replies (1) of 209892

As I recall reading about it, Gary Smith uses a semi-mechanical system where a computer generates for him a list of breakouts from consolidations - both up and down - and out of those lists he hand picks every day several longs and shorts, and his broker enters the trades. At the time of entry, they also put in targets - to exit when he ether has a 6% profit, or a 3% loss - whichever comes first. Not a bad deal.... and it even has a "built in" market direction indicator - when he gets more bullish breakouts, that means the market is in an up mode, and vice versa. He developed this system so that he can "have a life" - write, teach, to be a talking head, etc. -- while still making a steady income. Smart guy.

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