|
PureBytes Links
Trading Reference Links
|
Merrill - a great symbol to watch for market sentiment when trading
the S&P!
I have read many posts on this board and I have come to believe that
there are some people on this board that have achieved success
through the use of system trading. I trade the S&P e-mini's
(discretionary) and occasionally trade other future contracts if I
see a setup that presents all of the elements of a great trade. I
consider myself a "specialist" since I focus on the S&P. I have
reviewed some of the "E-Mini S&P trading systems" and after reviewing
the "Actual" or backtesting results have not seen any as of yet that
I would be able to trade for two reasons, the first is putting my
trading capital at risk with something that has some degree
of "unknown" and "trusting" that all things will work to my
advantage. I am also suspicious of the system vendors. If a system
can perform with excellent results why is it being offered to John Q.
Public? If I had an "automated system" that generated awesome
returns I would not want to be bothered with being on call for anyone
that has purchased my "system". If I cannot achieve excellent
results why would I buy it? Which brings me to the final conclusion -
I trust my experience, judgment, discipline and risk management
skills - it took years to become somewhat proficient so why try to
write it in code and remove me from the equation?
I know that I would screw up any off the shelf system simply by
overriding the system at critical periods - my lack of trust in
something unknown would guarantee my failure.
In the end I will tip my hat to those that have the talent to develop
an automated system that fits into their comfort zone and conforms to
their style. I believe there is enough space in the trading universe
for both system and discretionary trading. My comfort in competing
with any system is one thing - humans had to design it and provide
the code to generate the buy and sell signals. I will stay with
discretionary trading by choice for the time being.
David K.
--- In amibroker@xxxxxxxxxxxxxxx, "sidhartha70" <sidhartha70@xxx>
wrote:
>
> 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.
>
------------------------------------
Please note that this group is for discussion between users only.
To get support from AmiBroker please send an e-mail directly to
SUPPORT {at} amibroker.com
For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
http://www.amibroker.com/devlog/
For other support material please check also:
http://www.amibroker.com/support.html
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/amibroker/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/amibroker/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:amibroker-digest@xxxxxxxxxxxxxxx
mailto:amibroker-fullfeatured@xxxxxxxxxxxxxxx
<*> To unsubscribe from this group, send an email to:
amibroker-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
|