Just pointing out that it is fairly well known that the majority of investors/traders and traders that became investors when their trade went against them underperform the markets. And most do the same thing, and that maybe someone would twig to the realization that doing what everyone else is doing isn't working. Too obvious??
Good info starting here for about two minutes about set up variations. Also from what I can see, he keeps his stops tight but will not hesitate to re-enter if the daily high is crossed again.
According to his blog,MarketSmith is as high-end as it gets..He also uses Seeking Alpha and TC2000 .. You are making much more of this than it is...
LOL. My favorite video of his is the day he fat fingered his keyboard and lost 1.5 mil on KODK in a matter of minutes.He took it like a champ though. Good times,good times!
According to his recent stream he is mostly flat....most of the positions he was holding (and since exited) were initiated weeks ago.
Yeah I dont think his system does well in this type of market(bear/correction). A month ago he had on 23 positions and as of friday he was only in 3 names...LAC,ETHC and a short position in TSLA. I think he just bides his time and waits for a more favorable market to return. Witness the fact that his streams have been rather short as of late.
Per his recent stream and other videos, his favorite time to enter new trades is after a market correction. - Market sells off. - Look for strong stocks that have held up during the sell off. - Setups start breaking out. - Market starts rallying and the positions start printing money.