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some aspect of price action that is quintessential to all moves? How
about BREAKOUT! Is there any other system that will beat a breakout
system? I dare say no.
iain bell wrote:
>
> It depends on the "system". If you're basing it on canned indicators and
> lagging derivatives of price then of course it won't be very good. However,
> if you have identified some aspect (or a number of aspects) of price action
> that is (are) quintessential to all moves, then maybe you can use it as a
> component of a dynamic system.
>
> Iain Bell
> iain@xxxxxxxxxxxxxxxx
> -----Original Message-----
> From: Glenn Schultz <glens@xxxxxxxxxxxxx>
> To: Omega List <omega-list@xxxxxxxxxx>
> Date: 14 March 1998 16:59
> Subject: systems vs. discretion
>
> >I just got back from being on the road this morning and received a number
> of
> >replies to my systematic trading vs. discretionary trading. I got an equal
> >number that were for and against. It appears that the problem I am
> >experiencing is one of rule specification and programming ability.
> However,
> >when I get long or short I really could not tell anyone why in the form of
> >rules. Sometimes I will look at stochatics other times I will look at fib
> >numbers. Sometimes I wake up in the morning and just want to be long
> >bonds. The one thing I do consistently is get out fast when a trade goes
> >against me (I will take no more than about 6/8 against me) After which I am
> >just a fond memory.
> >
> >After considering the matter further, I think that there is most likely a
> >place for system trading / discretion trading combination each has its own
> >weakness specifically
> >System - inflexible and unable to adapt to a market that is never the same.
> >Discretion - Very adaptable subject to emotional error. -- success
> requires
> >complete ego suppression which is something not many can attain.
> >
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