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I promise this is my last word on this round:
I was driving to the local market, past the house of our local Market Wizard
and I heard his voice in my head: "System trading is ultimately
discretionary. The trader decides position size, which markets to play," etc.
"These decisions are quite important - often more important than trade
timing." This guy was using computerized trading models before many people on
this list were born.
If you lighten up your breakout system's long position in Soybeans at $10.50
a bushel are you a systems trader or a discretionary trader? If you jump out
of your bond shorts when they start to rally against your system and bombs
are falling in Baghdad are you a system trader or a discretionary trader?
Who cares!
Having a "market wizards system" will not make you as good a trader as a
"market wizard." There is more to it than that. If you are trading a system
that is not right for you, then you will likely lose. Whether you are flying
by the seat of your pants, or trading every signal on a "system" that was
tested on 100 years of data YOU are part of the system.
Bill Wynne
SmartTrades.com
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