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I agree. VT's methods may be appropriate for someone who finds it
difficult to pick good stocks to trade, which may be the majority of
traders. In that sense, VT is a good coach who can train a bad
trader to become a good one. But those who have superior stock
picking skills, it may not be appropriate. There are no one right
or wrong way to trade. One has to build a System that suits them.
Trading is an expression of one's own personality. But, to be a
great trader, one needs to find an approach that works for
themselves. To get there one must follow their own path. It is no
good following trades other people do. Taking that step to do it
yourself is one many traders find it diffcult, but it is essential.
Certainly one needs help in this business of trading. One needs a
coach, but one does not need gurus who tell you how, when and what
to trade. One will win only by trading their way. They have to
discover it themselves, their own way to trade, all the while
singing Frank Sinatra's tune "My Way"...
rgds, Pal
--- In amibroker@xxxxxxxxxxxxxxx, "Herman van den Bergen"
<psytek@xxxx> wrote:
> InLine...
> All good comments, but there are so many ways to look at this.
>
> imho MM is strongly related to trading systems. For example the
risk of
> losing streaks that VT talks about, he based that risk on a Random
market,
> if you have a system that only works on a few stocks and trades
very slow
> then you have to work with that risk assessment. You simple do not
have
> sufficient data to argue with Randomness.
>
> On the other hand if you have a system that works on 25+ stocks
and that
> trades every 1-3 days then i can have 25stocks * 5years *
> 280tradingdays/1.5barspertrade = 23,000 trades to analyze and give
me
> statistical confidence that my system is non-Random. With this
amount of
> data I can generate a very nice distribution chart for winning and
losing
> streaks. On that differ drastically from what VT shows.
>
> The same goes for percentage winning/losing trades. With limited
data you
> have to assume a Random market, however if you have lots of trades
to
> analyze you can make nice distribution charts here too. I once
posted a
> simple trading system that had well-defined losing and winning
streaks, i
> was able to increase stakes progressively after losing streaks:
profits went
> up. Traditional MM would argue with this approach. But for a well-
designed
> and researched system with suitable stats it works.
>
>
> best regards,
> herman.
>
> >
> > take care,
> > h
>
> rgds, Pal
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