James- I am trying to master these simple tools and hope so would be able to read them effectively soon. I think that 13 days EMA is one hell of a tool and I should give you great credit for introducing what I think is simple techniques no-non sense approach to trading. I think as I have several time repeated that what is really needed is to accept the fact that we should take what market is ready to give, the next stop for a trader is to go the basics, if some basic established fact is giving a huge sell or huge buy lean on the side of that call which is simple. We have made trading too complex and in my opinion trend lines \moving averages\ decision point\ other technical analysis like P&F should also form the basis of basic TA.
Armed with this, the next step in my humble opinion is to have emotionless approach to the market. Psychological set up is half the problem, never trade with a happy pill on like Prozac, my sister who happens to be a shrink in Orlando tells me of experiences where she is confronted by over-extended traders under influence of happy pill.gggg
I hope she can give some to premanent long faces of SI like the self styled bears some free prescriptions of prozac. They would atleast come out of their self imposed delusion of falling world and see some rosy side of global market activity although with Nikkei down 500 today this is rich but anyway we all will se it much higher and I hope thet take this opportunity to test the averages as good enough to establish some long positions.
One needs to avoid getting fixed with a sector or a stock every thing that works is the name of the game, one last thing it always pay to allocate 5% -10% of your profits on out of money forgotten puts in a uptrending market, in steep correction they work out miracles. Thanks for your input and best regards.. I bothered you with all of this, trying to write this to a master trader is like teaching trinity to a priest, something which I recognise tantamounts to unpardonable act, however someone may be luckily helped if he peeps into our messages, since lot of shorts visit us anyway our darling 'peeping Toms' by luck we may see some of them running to their shrinks for new prescriptions on Prozac with Viagra taken by the bulls although bears need it much more badly, sometime permanent depression causes diability of performance, all of this will lead to big buy on PFE and Lilly. The final bototm line go long PFE and LIlly.. gg
Just some loud points, I am little free in Pakistan for few daysm, talking to cyber space is the best one can do when one has ample time on hand. |
