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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: ojai who wrote (770)	11/3/1997 8:53:00 AM
From: GeneM	Read Replies (1) of 12617

Tim: As I tried to explain in a much earlier post, the three day MA merely gives you strong candidates; once they have been found, you must transfer them to an intra-day chart. However, I don't think anyone should try to decipher intra-day charts until they have mastered interpretting daily, weekly and monthly charts. The main reason for using the short [5 and 10 day] MA's is because they seem to track a trend closer than longer ones, for short term purposes; but, still not close enough for intra-day trading. Once I make an entry, the rest is pretty mechancial, unless my time frame is extended [short to mid term]. For example: I go long a day trade for 1k shs.; the trade spikes up 1 point and the chart still looks strong; I sell 1/2 my position (thereby limiting my exposure) and decide to ride the wave; I have now become a position trader for the short to mid term. I then go back to my 3 day MA to see when the trend might begin to change. GeneM

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