InvestorsHub Logo
icon url

ryanmnly

07/09/11 4:22 PM

#79606 RE: simplegreen #79603

I think it has been an excellent read so far. One thing that keeps sticking out in my mind is about how he says not to try to beat the market, but instead to be the market.

By taking away all the indicators and really zooming out on my chart, I've noticed a lot more pennants and flags. It seems that no matter what happens, you can always count on a pennant or flag coming up in the near future, which provides you another decision point for exit or entry.

The part I'm having trouble with is what to do when the price moves into that area between the MA100 and MA200. I know risk is minimal when risking 20 pips for 200, but if your trend doesn't start until taking two or three 20 pip losses in a row, it's hard not to get discouraged at this point.

That said, the basics he lays out are hard to disbelieve when you look at the charts and the levels price respects again and again.
icon url

ryanmnly

07/09/11 4:22 PM

#79607 RE: simplegreen #79603