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I certainly agree but then you really don't have a system per say because
of interjecting rules. Bonds have so many reports some benign others seem
benign but the market reacts severely sometimes even with those. Then you
have the major reports that will effect the bonds in a direction with
force. So then your back to my original observation if you interject rules
then you really don't have a true system, thus a system does not work for
daytrading. Therefore I think people should never buy or spent time trying
to develop a system unless its for very long term trading and very
capitalized but not for daytrading.
Robert
At 12:41 AM 7/23/1999 -0400, Jim Murphy wrote:
>>One of the reasons I don't like systems was the trade today in the bonds.
>>Had a channel going then broke out to the upside that would trigger most
>>systems to buy. Followed a horrific break that lasted 12 minutes for over
>>a point and a half before a small bounce up. I guess the people who use
>>systems would say the trick would be to reverse but today was an exception.
>>Most times if you try and reverse this market you can get hit both ways.
>>Sorry if anybody got hurt today in the bonds but reaffirms to me systems
>>don't work for daytrading.
>
>Seems like a no-brainer to me to NOT take signals from a system when
>Greenspan is in the news.
>
>
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