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I have just read the article in Roy´s newsletter "Trading the Spy"
Pretty much everything that I read, I agreed with entirely,
particularily the bit about strategies & systems.
In order to develop a series of strategies, it necessary to
realise the limitations of systems. In order to reach this crossroad
it is unavoidable to spend vast amounts of time trying
desperately to develop a winning system, that will protect & isolate
you from the pain of having to make daily rational decisions.
This is a part of the human mind´s defense mechanism and it is used
against you by all sorts of people every day ( including yourself)
It is this hurdle that must be crossed in order to become a successful
Trader.
Anyway, back to MetaStock, systems & strategies.
I use MS pro to trade forex because I think it is very good, because
I now know that if I screw up it will be my fault, not the fault of MS
and because I am too tired to learn another coding language.
I code parts of my strategies into simple lines and latches, but none
of them are a complete system .... they are simply on the screen to
keep my rationale from straying from my strategies.
My strategies are simple. There is "LTLB" and "CMA"
LTLB depends on market moods and CMA contains my losses and will
roll the trade if necessary.
LTLB = "let us trap the little bugger" and
CMA = "cover my a*** "
I have learnt a great deal from Roy´s newsletters and read & re
read
them, because they are that good.
However, the charts in the SPY article are completely beyond me. I
am simply not clever enough to convert them into a strategy.
If I had to look at them everyday I would become confused.
To the Author of the charts, I say, please do not take this as a
criticism. As I have previously said, I agree with pretty much
everything that you have said.
My comments concerning the charts are purely my opinion and are made
to reveal my charting limitations as a Trader.
I need to keep the systems simple and the strategies cunning.
Good luck to every member of this excellent forum.
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