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Call it what you want but a trade plan along with the system (signal
generator) is another way to look at it. The signal from the system is
not always the best place to enter. For instance, just because the
system gives me the signal, it doesn't necessarily mean I have to take
it on the close or next open or wherever. It's my job as the trader,
along with the trade plan, to take every trade,yes. But I don't have to
take it 'exactly' when the system says 'conditions are set-up for
entry.' My job is to take the entry and have it prove correct. If it
does not, I can always take the signal later (maybe today, maybe
tomorrow). The key is only holding an entry if it proves correct. That's
spelled out in the trade plan and not in the system.
Robert W Cummings wrote:
>
> I didn't mean to infer position traders wouldn't be effected by price
> shocks.
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