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IMO 10 is way to short to only trade in that direction intraday. Try 50 and/
or 100 for intraday keeping in mind the 10 ema daily.
----- Original Message -----
From: Michael Ferguson <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 11, 2001 9:16 AM
Subject: Re: [RT] Re: 5/11/2001 NASDAQ Turning Point
> Joe,
>
> would that rule scale down to the intraday time frame? ie: on x min or
tick
> chart, don't trade long when last price is below xx avg? if so, what time
> frame and avg might be appropriate?
>
>
> Michael: wl7bdn@xxxxxxxxxxxxx
>
>
>
> ----- Original Message -----
> From: "Joe Duffy" <joeduffy@xxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, May 10, 2001 21:56
> Subject: Re: [RT] Re: 5/11/2001 NASDAQ Turning Point
>
>
> Haytham, your posts IMO at least are excellent. Marty Swartz always had a
> rule to never day trade short if price was above the 10 day ema, and never
> day trade long if price was below 10 day ema. Its amazing when you go back
> and look at trade screw ups, how many times something so simple gets
> overlooked, and how it can save you a lot of aggravation.
>
>
> ----- Original Message -----
> From: Haytham Albizem
> To: Realtraders
> Sent: Thursday, May 10, 2001 10:30 PM
> Subject: [RT] Re: 5/11/2001 NASDAQ Turning Point
>
>
> 5/10/2001
>
> The descending has began today, it will accelerate tomorrow.
>
> There in engulfing bearish pattern if you are candlestick trader or
> outside bar if you are in westerns school of thoughts, there is a lot to
say
> about these patterns, entry, exit, probabilities and how to trade them but
I
> leave it to others who are willing to share.
>
> The above you can read in general trading books so I am not going to
waste
> my time on the above topic.
>
> Beside to all the pieces I added to the big picture yesterday, there is
a
> lot other things I have not told you and every time you add a color or a
> line to the picture the picture become clearer and clearer until it become
a
> reality.
>
> Mirror Image by continuing the pattern I describe in my message 4530
and
> 4542( Don't follow this pattern from this date, it is too late...)
>
> NASDAQ closed below the 10 day MA
>
> Look at 2 day/bar and see how Doji bar is forming.
>
> IT APPEAR 5/11/2001 WILL BE A TURNING POINT FOR DJIA AND SP500 ALSO :-)
> BINGO !!. ENJOY THE RIDE AND HAPPY TRADING.
>
>
> Haytham
>
>
> Disclaimer: THIS MEANT AS A TRADING LIVE EXERCISE, IT IS NOT A
> RECOMMENDATION TO BUY OR SELL, SO USE YOUR OWN JUDGMENT.
>
>
>
>
>
>
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