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Hello Everyone.
I have been a AB user since 3.2 (approx) and I have
been away for a few years.
It is a pleasure to still see so many old faces,
excuse me Yuki, Dimitri....perhaps I should stop there. And how the
messaging has grown. It used to be good to get 5 a day, but now 70!!! a
day.
Anyway, I post today to suggest to everyone that
apart from a lot of noise about data purity and a few other things, everyone is
focussing on entries.
I should like to suggest that we should have a
small competition for those who like to program. The competition should be
on exits. I propose that a random entry should be made and then everyones
favourite gangbuster exit system be tested. I would be happy to receive
emails and I will test against a number of undisclosed share and future OHLC
data series with fixed entry points (also undisclosed) and report which system
or strategy of exit worked the best. I know this will blow away all those
systems that rely on "I make a fixed profit", or "I exit on a x% retreat
systems". But I think a simple line of code that is applied to you exit
code will accomodate that anyway.
The premise is that everyday you should ask "would
I enter this trade today if I wasn't already in it".. This is challenging
because you will quickly find out that there are gamblers amongst
you.
I don't want to enter all the pros and cons of this
idea, I could sit here and argue them all myself as many of you also
could. My intention is to get everyone of the gangbuster entry mania and
concentrate on preservation of wealth. In short, if I only ever lose on
very small amounts, but always hang there for profits we shall all see the best
( most robust sustainable) strategy not the flukiest.
If it don't suit what you do fine, lets not argue
about it. If nothing else at least this post has made you think about
EXITS!
...and that's my cue to go...
bye
Peter
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