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Meaning standing buy stop orders at those levels as price ascends, correct?

Thanks for clarifying it, that's what I thought. And also thanks for pointing out the risk of reverse pyramiding, not everyone might have caught that. Mathematically, you want your largest portion on first, then scale in on smaller and smaller units 10, 8, 6, 4 etc....then again, the math...

It never ceases to amaze me......Barrings Bank, Orange County, LTCM, the list goes on and on, and now Bear Stearns. No matter how many times this happens, its continued proof that the so-called "experts" don't learn from their own mistakes - and that the "smart money" ain't always so smart...

Wave, thats bot 12 units, bot 3, bot 3 - correct? Not the reverse....

Look up....the sunlight is starting to break through the clouds (for those that are jonesin' for some "wave speak"). More words of wisdom, thanks to Spec for the continued education....and thanks to everyone else on ES:cool:

The problem I run into with trendlines intraday is that I am constantly redrawing them as price action unfolds. I understand what you are saying with the outlier and having drawn it already. The question is, with so many lines to track intraday, how do I rank them in importance - or does price...

Actually, there are some vendors that have some very good trading information...its what you do with it that counts. With your sreen name, I just had to use that "Wedding Crashers" line!

Don't be a stranger, your contributions to this thread are appreciated by all.......

Them's fightin' words Bruce.....that guy has just as many cheerleaders as he does detractors on ET:p Actually, his book has some good tidbits in it. But he is a vendor 1st and foremost.....and for that, BruceLee, I say to you...."I almost numchuck'ed you man.....you have no idea!"

The fog of TA-land is slowly clearing for me....to see that you can't wait for TA to tell you what to do......but to anticipate what will happen when the after-the-fact TA numbers get acted upon by the masses.:cool: Thanks for that detailed trade "thought process" Spectre2007 - that is a gem...

Well, its not because mathematically the price has stabilized enough for the averages to catch up to the current price action....so you are actually anticipating a crossover based on the fact that you think prices went too low, and must now snap back strongly causing the short term MA to cross...

BWAHAHAHAHAHAHAHAHAHA - ROTFLMAO One of the funniest things I've read on ET in a while

Hey Apex, you short your normal car size on this?

As Ed McMahon would say, "Yes, you are correct sir!"

And therein lies the crux of the problem with MA crossover systems.

NOW you're talking:)

Long term trend following using a MA crossover system is definitely a time proven concept.....what makes it so hard to stick with is those huge retracements that take back massive chunks of your gains, and leave you second-guessing "has the tide turned?" Simple in theory, but not easy in reality.

Long term trend following using a MA crossover system is definitely a time proven concept.....what makes it so hard to stick with is those huge retracements that take back massive chunks of your gains, and leave you second-guessing "has the tide turned?" Simple in theory, but not easy in reality.

Thanks for the feedback - I wanted to understand your thought process and how you were linking the 60M chart to the weekly and monthly timeframes. I like your ongoing 60M chart analysis and input of price action on that timeframe. Hey Spooz Top, let's hear from you!

Continue please.......at what point does this have an effect on the weekly or monthly chart trend?