Yes, for the most part, you got it all (except for your point 2. which you negated by presenting point 6.)!
As it has been stated, this is a guide or method which depends on your own discretionary approach and hence, it cannot be automated as it stands. In order to automate it, you would still have to define several more specific rules and conditions in accordance to your own adaptation, but at that point, it is no longer a "guide" or "method", but an exact recipe of your own adapted design for your specific application of it and it will therefore no longer be discretionary.
In essence, one could devise hundreds of automated variations yet still, have them all classified as "3 Ducks", but each being completely different at the same time (some being profitable and others a complete and utter failure).
EDIT: After reading over you post agian, I may have misunderstood point 2., and what you meant by "because it is really simple", was that it it very simple to understand that it cannot be automated. If that is the case, my apologies for the misunderstanding.