|
PureBytes Links
Trading Reference Links
|
Bob Heisler <bheisler@xxxxxxxxxx> wrote:
> And even though I am "discretionary" trader, I take the same
> trades/setups every day and set stops and objectives the exact same
> way - all based on the price action. What varies is adjusting my
> trade management to the conditions, and no computer can do that for
> me.
On the other hand, unless you have iron discipline, a discretionary
trader can unintentionally let other factors -- fear, greed, lack of
confidence (or overconfidence) in self or system, etc -- creep into
the decision process. Unless you're a robot, how can you be sure
that your discretionary process includes ONLY the factors you want?
That's one of the reasons I like systematic trading. I know the
program's signals aren't influenced by my emotional state at the
time. All I have to do is follow it. Sometimes I don't do even THAT
very well, which should give me some clue as to how well I'd do if I
was trying to call the signals myself. :-)
> And that is one major component that gives us the edge as off
> the floor traders.
(Can't the floor traders do exactly the same thing?)
It can be a valuable tool. But I don't believe it's the ONLY way to
trade successfully. A systematic trader with a *good* system can
trade 100% mechanically and do quite well.
Gary
|