|
PureBytes Links
Trading Reference Links
|
--- Gary Fritz <fritz@xxxxxxxx> wrote:
> 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.
>
Isn't Bob H. saying in this parragraph he indeed uses
a system?
I think many people consider indicators as 'new
information' and many times I have heard the argument:
"you will do best by studying price, no indicator
works". To me, indicators are nothing but different
ways of studying price and will tell you
characteristics of the market you need.
A system is nothing other than a method you use to
trade, only that you have defined it in such a way -in
such precise terms- that your computer can follow it
just as you can follow it. And indicators are ways
other people have used to express some aspect of the
market so they can have their computers follow their
ideas.
If Bob's "trades/setups, stops and objectives" are
truly the 'same every day' and are not based on
intuition or subjective factors then it is possible
for him to have a computer do the monitoring of the
market for him. Furthermore, if he can teach someone
else to trade the way he does and have them identify
each scenareo under which he would place a trade he
will also be able to 'teach' a computer to do the same
work.
Many times we don't have the training, the tools or
the inclination to have a computer make our life a bit
easier (no bob-bashing intended, I think computers are
still too difficult to use and we defenitely don't
have good enough tools to truly develope 'smart'
systems)
And, If he can't (teach another person and a
computer), then I would venture to say he modifies his
rules as he goes along. In my view this is being
inconsistent and inconsistency in performance is not
what I look for when managing my money...
Note: my intention is not to pick on Bob, I'm using
Bob to refer to traders who have an approach to
trading but claim don't follow a 'system'
H
--- Gary Fritz <fritz@xxxxxxxx> wrote:
> 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.
>
|