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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: KingHigh who wrote (15313)	3/11/2011 12:56:03 PM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 220820

Yes, for Monday I would need a close above 1313.00 to confirm a buy signal... but when the market trades above that point, I just reverse and buy... I give it a couple of points elbow room before I call it a failed signal and reinstate the original position... you show great discipline in taking every signal and holding until the next signal despite all the market gyrations. Thanks... I've done this for years and I've learned on numerous occasions that the model which I invented is much smarter than I am... The fact is, there is no way in the world to know whether any given signal would fail or be the big money maker, so I just take every single signal and accept whatever the market provides... I let the model do the driving, I'm just the passenger, and I already know that backseat driving will only lead to human error... my model isn't human so it has no fear, no greed, it simply grinds out buys and sells at the right time without thinking... in September of 2008 I had a sell signal in a raging bull market... I took it and the market crashed for several months, the model made a fortune even though I kept guessing at the bottom... Richard Dennis, a well known commodities trader, turned $1600 into $200 million in about ten years... he said a 14 year old kid could be a highly successful trader if all he did was follow the rules of a good market timing model because the kid wouldn't think about it, he would simply follow the rules of the model... he's very right about that... being human, we're very prone to error, but a good model makes no errors... GZ