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Simple systems and cunning strategies: A trader after my own
heart.:) I remember as clearly as if it was yesterday why I first
bought Metastock (when it was still a DOS program): Because I wanted
to trade using the ADX indicators and they were too involved to
calculate quickly by hand. And the pretty charts, of course.
Now I don't even use moving averages and the charts are just a visual
double-check on what my system is doing.:) JMO, but when a trader
realizes that the value of trading software is in its ability to
verify that his method actually works and not in the number and
complexity of the (largely value-less, redundant or both) indicators
it can create, he's made a major step forward.
Luck,
Sebastian
--- In equismetastock@xxxxxxxxxxxxxxx, "commanderco" <commander@xxxx>
wrote:
>
>
> I have just read the article in Roy´s newsletter "Trading the Spy"
>
> Pretty much everything that I read, I agreed with entirely,
> particularily the bit about strategies & systems.
>
> In order to develop a series of strategies, it necessary to
> realise the limitations of systems. In order to reach this crossroad
> it is unavoidable to spend vast amounts of time trying
> desperately to develop a winning system, that will protect & isolate
> you from the pain of having to make daily rational decisions.
> This is a part of the human mind´s defense mechanism and it is used
> against you by all sorts of people every day ( including yourself)
> It is this hurdle that must be crossed in order to become a
successful
> Trader.
>
> Anyway, back to MetaStock, systems & strategies.
>
> I use MS pro to trade forex because I think it is very good, because
> I now know that if I screw up it will be my fault, not the fault of
MS
> and because I am too tired to learn another coding language.
>
> I code parts of my strategies into simple lines and latches, but
none
> of them are a complete system .... they are simply on the screen to
> keep my rationale from straying from my strategies.
>
> My strategies are simple. There is "LTLB" and "CMA"
>
> LTLB depends on market moods and CMA contains my losses and will
> roll the trade if necessary.
> LTLB = "let us trap the little bugger" and
> CMA = "cover my a*** "
>
> I have learnt a great deal from Roy´s newsletters and read & re
> read
> them, because they are that good.
> However, the charts in the SPY article are completely beyond me. I
> am simply not clever enough to convert them into a strategy.
> If I had to look at them everyday I would become confused.
>
> To the Author of the charts, I say, please do not take this as a
> criticism. As I have previously said, I agree with pretty much
> everything that you have said.
> My comments concerning the charts are purely my opinion and are
made
> to reveal my charting limitations as a Trader.
> I need to keep the systems simple and the strategies cunning.
>
> Good luck to every member of this excellent forum.
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