Quote from Mr Super Trader:
Sounds good to me!
I don't get why such simplicity isn't looked on with derision. Such trading approaches are rarely if ever profitable.
The tact is a baseless approach, and only by trading quantitatively will you ever be able to find success in the markets.
As with a normal job, too, if your measure of success isn't in dollars, there are plenty of losses to clue you in to your unprofitable methods.
I think the applause is unwarranted, as with any "trader" who has no backtests.
Such simplicity will not make money long term. If the first 50% drawdown doesn't stop you, the next 50% draw soon after probably will.