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Hi gunovanengel,
Tuesday, February 8, 2005, 8:08:38 AM, you wrote:
g> I have been studying woodies method since March last year. I have
g> been spending around three to five hours a day watching woodies
g> pattern on Esignal and Amibroker.
g> My understanding is that woodies system is a discretionary system
g> based on pattern recognition and support and resistance lines. I
g> have not been able to program woodies system in amibroker. My
g> trades are triggered when I visually spot a CCI Pattern. Since 5 of
g> January until today seventy percent of my trades are winners using
g> woodies system.
That's nice, but the time frame is way to short to suggest that there
is anything conclusive about it, and you don't even mention size
ratio.
g> I also think that not every pattern that is visible and straight
g> forward to the eye can be programmed. Discretionary trading works
g> from some people, system trading work for other people, a
g> combination of system and discretionary trading works for other
g> people. I place myself in the last category.
I agree with all of that, but the eye can be dangerous, too, or
rather the brain processing what the eye 'sees' can be dangerous.
The brain is quick, very quick, to eliminate noise and find something
that simply isn't there, or is there, but has a noise component that
in real trading would cause you to take action that would ruin the
whole thing. It only takes one bar for that to happen, but then in
hindsight 7 to 10 bars later you realize you've been had by noise.
Yuki
P.S. I have renamed a subject line that absolutely no longer had any
reference to the content of the thread.
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