Quote:
Originally Posted by cdutoit
Thanks for the detailed trade-by-trade samples. I'm quite interested in Fibs and am trying to follow your system.
I'm still a little confused on using the MA's to determine bullish or bearish trends - How is this done? Are you saying if the shorter MA is above the longer MA its bullish? Or are you saying if price is above the MA is bullish.
That is, could you explain how to read the "MA's" from a Trend perspective?
Thanks
|
Good question, i guess I didn't explain that well enough and I can see how it could be misinterpreted. Bullish if the 21 is above the 34, bearish if the 21 is below the 34.
Keep in mind folks, these MA's are just a guideline. If you find that a 61/78 pair works better or a 50/100 pair, whatever, they are all going to catch some that others won't and miss some that others won't. I've just found what I think is a nice compromise that typically holds the trends fairly well for playing pullbacks and can still be nimble enough to catch trend reversals.
I've revised my trade management a bit in how i'm scaling in/out of trades and i'll post up details a bit later on this evening. I spent the day going through my recent trades and came up with some pretty startling results.
Cheers!