There are no facts, only interpretations.
This chapter continues with a discussion of using moving averages when trading the spiders. Given its flaws, a simple moving average is too crude an indicator. Standing by itself, it frequently produces inferior results. Correcting this often requires a combination of integrating variables into your analysis, and adopting a different theoretical perspective together with a more adaptable trading model.
Developing a profitable trading system is not always easy. It is an incremental process in which you continuously break things apart and examine the pieces—discarding those ineffective strategies, but retaining those with promise, ...