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Did you ever play Simon Says? I look at the markets as a big game of
mis-direction. Interestingly (the game) has been working now for all this
time. Today wheat went down all day only to reverse and run back to almost
unchanged within the last 10-20 minutes. To me that says that some party(s)
wanted to get as many persons short as possible before reversing.
The method you are using may be fine for you. There will of course be times
when you win and times when you lose. Remember, October is notorious for
nervous markets.
Brent
I'm making really good progress on my daytrading method. I watch a single
stock all day, one that's naturally volatile. My target per trade is 3/8 on
a trading range day and 1/2 on a trending day. I average 4 trades a day.
My setups are based on MACD's on three time frames. I won't enter until all
three agree. I use displaced moving averages for stops, trying to give the
price action a little room for "noise".. This simple system works, with the
exception of whipsaw days. Unfortunately, there are plenty of those!
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