S, L = 15 and 60 week moving averages. Buy if a) P>S>L AND b) Sâ€™, Sâ€™â€™, Lâ€™, Lâ€™â€™ all >0. Define EXIT=(S+L)/2. Sell if c) P<=EXIT OR d) Sâ€™+Lâ€™<0 OR e) $ loss limit reached. Note: condition (d) ensures that EXIT never declines.
Long-term-trader, who since 1989, avoids noise, manages risk, trades price trends, welcomes breakouts & follows mostly WEEKLY Charts, not crowds; Less commentary, no predictions, more trades.
Market technician, analyst and trader with over 25 years experience in global equity, forex and futures markets. Former sales trader to hedge funds/institutions, research analyst, prop trader, buy-side head of desk. Grass looks greener here.
Sorting the truth or likely truth from the noise is a key attribute of the successful investor. My commentary reflects this effort. See my profile, articles and comments on Seeking Alpha: http://seekingalpha.com/author/robert-mcdonald/comments