[amibroker] 'Rule Based' versus 'Discretionary' trading...

["sidhartha70" <sidhartha70@xxxxxxxxx>]

Thought I'd try and start a discussion on this very important topic...

Over the years I seem to have come full circle... back in 1994
starting as a largely discretionary trader, I moved into 'rule based'
systems while working for Merrill Lynch back in 1997. I spent about 7
years trading various types of rule based system. All variations on
statistical arbitrage themes.

Over recent years I have migrated away from rule based trading back to
discretionary, and find myself developing some quite strong opinions
about rule based trading (opinions which I happy to have changed!!!).

One thing that strikes me about this forum is the focus on 'rule
based' trading and backtesting/optimization of systems. Perhaps this
relates to the grounding of the product. I have been an owner of
AmiBroker for about 5 months now I guess... and it seems to me it's
strengths lie in backtesting & optimization (if only I had a product
like this back in 1997 my life would have been an absolute joy).
However, it's weaknesses seem to lie in it's charting (as has been
commented on a couple of reviews on Elite Trader) and particualrly the
openness & adaptability of it's charting framework.

Anyway, I'd love to start an open discussion on 'rule based' versus
'discretionary'... Pros, cons, differences, potential returns from
each route, does one route lead to the other etc..etc...

I'm very much wanting to learn from opening this subject up.


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