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Buffet...But are we in this purely for the long-term money or is there a
"fun and adventure" component in all this that is captivating, brain
teasing, and challenging?
If you take away the personal involvement in trading, like the excitement of
thinking you can out-smart the market, of getting a new idea, the challenge
of coding it, the satisfaction when an idea proves valid, and finally the
rewarding profitable trade (usually less profitable than expected) than i
think there wouldn't be many subscribers left on this list.
Warren Buffet may have made his money, but where was the fun? Most buffet
traders (investors!) died of old age along the way :-) his way of trading
(if still valid) is for the young or for institutions with a lifetime much
longer than ours.
best regards,
herman
-----Original Message-----
From: Pal Anand [mailto:palsanand@xxxxxxxxx]
Sent: Saturday, October 02, 2004 1:49 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] Re: Awesome trading system
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
> >
> >
> >
> >
> >
> >
> >
Check AmiBroker web page at:
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Check group FAQ at:
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