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Re: System vs Discretionary



PureBytes Links

Trading Reference Links

For the last couple of weeks I've been using a product called Virtual Trader
to run bar by bar simulations on my intraday data.  This is one of the
pieces missing from the Tradestation package.  I set up a window of the same
charts, indicators, and systems that I use during regular trading hours, and
can watch the bars appearing.  VT then lets me place my trade and stop-loss
for the next bar.  This really lets me see the interaction of price, my
indicators, entries and exits.  You get the TS performance reports, showing
your trades, and can use pretty much any studies you've got.

I only wish that I had it when I first started trading, it really would have
made my learning to trade much less painful and costly.  This program allows
me to train myself to take my signals, set appropriate stops and learn from
my mistakes without losing money.

Take a look at their WebSite, if you're interested at:
http://www.titantrading.com/
I have no financial interest in the company, I'm just a satisfied user.

Jay Poswolsky


-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: Tom Cathey <K1JJ@xxxxxxx>; omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Friday, March 13, 1998 8:06 AM
Subject: Re: System vs Discretionary


>Agree with most of what you say except that I believe a good system can
provide
>a framework of confidence and consistency. I think most systems fail
because
>they are all trying to measure the same thing - price and volume
(especially
>price). Day traders have nothing else to go with except price/volume.
Position
>traders are in a position to incorporate other data into systems which can
and
>do improve their odds. Contrary to popular wisdom, no system is able to
>accurately project prices into the future so the trading game can never be
more
>than a game of probabilities. And ultimately, no computer softare can
approach
>the cognititive ability of the human eyes/brain in interpreting a chart.
>
>Earl
>
>-----Original Message-----
>From: Tom Cathey <K1JJ@xxxxxxx>
>To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
>Date: Friday, March 13, 1998 1:38 AM
>Subject: Re: Unidentified subject!
>
>
>>Hi Glenn -
>>
>>
>>Ain't it the truth -  You're not alone.....
>>
>>I've been at it for 18 years and tested everything under the sun. I just
>>hope most guys continue to fool around with ridgid systems, (especially
>>optimized).....  'cuz I do not want to trade against guys like yourself
who
>>can change with the market on a moment's notice...and are light years
ahead
>>in decision making ability vs:  a computer....That is assuming that you
are
>>disciplined and have gone through the gauntlet to appreciate it all.
>