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I get all my best system rules from discretionary traders... LOL
Dennis
On Aug 18, 2008, at 6:54 PM, wooziwog wrote:
> 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.
>>
>
>
>
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>
>
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Please note that this group is for discussion between users only.
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