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Any day trading system, however awesome, discretionary or
mechanical, can ultimately by defeated by a superior position
trading system, discretionary or mechanical. Short-term profits
leads to long-term ruin. In this case, it is the virtue of patience
combined with solid money-management techniques that makes the
position trading system far superior to any day-trading system, in
general. The free-market is ruled by those who can see and plan
long-range; the better the mind, the longer the range of planning.
If you need, just ask Mr. Warren Buffet for a confirmation of that...
rgds, Pal
--- In amibroker@xxxxxxxxxxxxxxx, "Geo Singleman" <geosing@xxxx>
wrote:
> I don't use any AFL other than automatically drawing the pivot
range and the
> A UP and A Down lines. I doubt it can be made mechanical because
there are
> no precise entry triggers. As in everything in trading, there are
no
> absolutes. e.g. After a good A Up, price can still go through the
opening
> range and end up at the low of the day. A mechanical system would
get you in
> and stop you out every single time in such cases.
>
> ACD is a daytrading system, suitable only for liquid and volatile
markets
> which have good daily range. I doubt you can trade such markets in
a
> mechanical fashion, but that may be due to my lack of knowledge
about
> mechanical systems.
>
> Geo
>
>
> ----- Original Message -----
> From: "Al Venosa" <advenosa@xxxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Friday, October 01, 2004 08:28 PM
> Subject: Re: [amibroker] Awesome trading system
>
>
> >
> > Thanks a lot, George and Scott. I very briefly read the article
Scott
> > referenced, admittedly without studying it in great depth.
However, I
> > found the explanations so convoluted and confusing as to have
limited
> > usefulness. I guess if you really wanted to learn the system,
you'd have
> > to buy Fisher's book, which I am not adverse to doing. When I
get a
> > chance some time, maybe I'll do that. Thank you, George, for your
> > explanation. I prefer totally mechanical systems, especially
since I
> > have a full-time job, unable to watch the monitor all day to make
> > discretionary decisions. I'll keep this reference handy for the
> > not-too-distant day when I retire. The system looks promising,
and I'm
> > glad to hear you are successful using it. Have you developed
entry and
> > exit code in afl yet? Do you think it could be made into a fully
> > mechanical system without discretionary decision-making?
> >
> > Regards,
> >
> > Al Venosa
> >
> > Geo Singleman wrote:
> >
> > > It is not a system, it is a methodology, for which credit goes
to Mark
> > > Fisher, who is a NyMex energy trader/local and has a clearing
> > > operation for
> > > energy futures. The methodology called ACD is explained in his
book -
> The
> > > Logical Trader.
> > >
> > > It is a simple Opening Range breakout system with additional
nuances
> based
> > > on daily pivot ranges.
> > > Simply stated, it is as follows:
> > > On a good A Up, your bias is on the bullish side and you go
long.
> > > Good A Up is when the price trades for at least half the time
used for
> > > determining the opening range. e.g. if 15 minute OR, then
price must
> > > trading
> > > certain number of ticks above OR High for 7.5 minutes for it
to be a
> > > good A
> > > UP. Same with A Down, where you get a bearish bias and must
think short.
> > > There are other layers such daily pivot range and price
behavior at or
> > > through the pivot range. The OR time period and the offset
depends on
> the
> > > tradable and its volatility profile.
> > >
> > > I trade this method and make a living at it. It is not
mechanical and
> > > a lot
> > > of discretion is involved in determining trade locations and
size. What
> it
> > > does give you is a way to define the risk so that you have a
clear
> trading
> > > plan - especially if and when the market proves you wrong.
> > >
> > > Geo
> > >
> > > ----- Original Message -----
> > > From: "Al Venosa" <advenosa@xxxx>
> > > To: <amibroker@xxxxxxxxxxxxxxx>
> > > Sent: Friday, October 01, 2004 02:54 PM
> > > Subject: Re: [amibroker] Awesome trading system
> > >
> > >
> > > > The "system" is not a system, since it has no
buy/sell/short/cover
> > > > statements in the code. I copied it into the IB and plotted
it, but I
> > > > have no clue what I'm looking at. Anyone care to explain
what it's all
> > > > about or why it's awesome?
> > > >
> > > > Al Venosa
> >
> >
> >
> > [Non-text portions of this message have been removed]
> >
> >
> >
> >
> > Check AmiBroker web page at:
> > http://www.amibroker.com/
> >
> > Check group FAQ at:
> http://groups.yahoo.com/group/amibroker/files/groupfaq.html
> > Yahoo! Groups Links
> >
> >
> >
> >
> >
> >
> >
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