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Another way of looking at this is the following image:
The market is like a steel pipe: the 10d ma. Attached is a ping pong ball
by a rubber band: that is the price activity around the ma. Any move away
from the pipe will result in a return reaction which will usually be faster
than the movement away from the pipe. One may not necessarily be "safer"
trading *with* the 10d ma in this image.
don
----- Original Message -----
From: "Tom Domingues" <tdelta@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 11, 2001 10:30 AM
Subject: Re: [RT] Re: 5/11/2001 NASDAQ Turning Point
Marty Schwartz doesn't use the word "never" in this instance...
"When you're trading above the ten-day, you have the green light; the market
is in
a positive mode and you should be thinking buy. Conversely, trading below
the
average is a red light. The market is in a negative mode and you should be
thinking sell. That doesn't mean you should never buy when you have a red
light, but if you do, it
is critical that you have an extremely good intellectual reason fo taking
that position."
--PIT BULL, pg 272
Tom Domingues
H.Albizem@xxxxxxxxxxxxxxxx wrote:
> --- In realtraders@xxxx, "Joe Duffy" <joeduffy@xxxx> wrote:
> > 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.
> >
> >
> Thank You. I learned that from him, it is the only moving average I
> use.
>
> Haytham
>
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