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Title: Re: [amibroker] Re: 'Rule Based' versus 'Discretionary' trading...
imo, It makes a lot of sense... The bottom line is that System trading is easier: I just give you the code and you turn on the system. If the system works for me I can guarantee it works for you. No skills needed. Like the article said: a 15 year old can run a mechanical system. I don't think there is any discretionary trader who can say that :-)
You can switch mechanical systems on the fly (mechanically), criteria for system failure can be set (system scoring). Many traders run multiple systems at the same time. That is why, some weeks ago, I was pushing for Performance Indicators. These are critical in detecting system failure early.
Herman
Wednesday, August 20, 2008, 12:00:16 PM, you wrote:
>>>Very few descretionary traders will be able to communicate (teach)
> their techniques to others others in any way that garanteees
> comparable success.<<
> I don't think it makes sense to talk about guarantees in this context.
> Lets look at my video game analogy. Can you teach someone to play a
> video game? You can explain the rules and give them playing tips but
> you cannot impart to them the skill of scoring 100,000,000 points.
> They can only acquire that skill with playing time.
> Similarly a DT can explain how he trades and give you some guidelines
> but he cannot impart to you the skill of profitable trading. You can
> only develop that skill with a lot of screen time.
> Bill
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