If I am following someone elses system I see no point in trying to second guess it or attempt to tweak it in some way?
I believe discretionary traders trade their unique belief system anyway. So what I trade will not be what you trade or what the next guy trades. We have to find for ourselves what it is we’re comfortable with and trade our own way, all the while humming Frank Sinatra’s tune “My Way.” Its a process and the indicator is only one, probably the least important, aspect of the trade. We’ve got instrument, entry (indicator), money management, exit and psychology. The last three are more important. Infact Jeffrey Katz and Donna McCormick show that you can make money with a random entry provided you’ve got the other factors down. Personally, I am KISS (keep it simple stupid) kind of guy. I think most popular indicators are bunk having done the inequality alegebra myself an learned that…. for instance take the DMI, after all the hoopala, boils down to comparing today’s range with the range 15 days ago. Why? And for instance the MACD… compares today’s price with the price N days ago and one m
