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"Peter Hoon" <phoon@xxxxxxx> wrote:
>I want to amplify on comments Mark Brown made in response to Bob Heisler's
>post. I feel Bob's comments could dangerously mislead new traders on
>this list, and lead to a lot of pain and damaged bank accounts.
Peter, are you going to guarantee that your methods will not lead to a lot
of pain and damaged bank accounts?
>With a carefully designed and back tested system, you will see that
>in the real world, drawdowns happen. The advantage with systematic trading
>is you can ascertain ahead of time their size, and be prepared for them
when
>they come, and trade through them successfully.
Baloney. You can think you know what the drawdown will be... but you can
never really know. Unless, of course, you can peer into the future...
Can you peer into the future, Peter?
>A claim to some undefined power to be able to "read price charts" will
>never get to a set of clear rules, in code, that can be tested and refined,
>or possibly rejected. And the belief that one can magically pass this
>on to students is equally ludicrous.
Bob did not say anything about using magic or undefined powers. He has
not revealed his methods, and that's fine. Just because he hasn't taught
them to you does not mean they can't be taught or that they are undefined.
Peter, you are extrapolating from the forms of analysis and teaching with
which you are most familiar (medical diagnoses) into another area - trading.
Your extrapolation may very well be valid. But your forms of analysis
and teaching are not the only available forms. Are you saying that Bob
is not allowed to succeed with his own forms of analysis and teaching?
It is my belief that much, though probably not all, of many chart readers'
methods can be programmed. But remember, programs are a tool - a means
- not an end. Programs are useful only when they reduce the amount of work
which needs to be done. If Bob can most efficiently pass on his knowledge
through teaching and not programming, shouldn't he be free to do it that
way?
Good trading,
OM
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