|
PureBytes Links
Trading Reference Links
|
"If it would be more work to automate a trader's
method
> than it is to just let the guy trade it, then programming makes no
sense."
i respectfully disagree here. the reason why is that infinite man hours are
requied to "just let the guy trade it". when programming it may seem like
many hours to create the system but the input required is limited and
finite. when the system is done and done right you will quickly recoup
those hours as you use it. this is the premise any computer program works
on. imagine trying to do the things tradestation does by hand. you
couldn't and that's the point. abstracting your system not only frees you
to be more productive but mounts less stress too. also, other value added
features come into play. with systems, you can trade more than 1 market
with the same system. for example, i have a system that performs well in
several markets. there's no way i could trade all of them by hand but the
computer can. an additional benefit is that i not only spread my risk out
but my execution is way more reliable with smaller lot size. again, a
computer does this better than i could by hand. while the pc is working, i
can write letters like this one and work on new systems or code.
regards,
brian.
> -----Original Message-----
> From: TradeWynne@xxxxxxx [mailto:TradeWynne@xxxxxxx]
> Sent: Thursday, March 02, 2000 8:55 AM
> To: the_omega_man@xxxxxxxxxxxx; omega-list@xxxxxxxxxx
> Subject: Re: SURVEY RESULT
>
>
> In a message dated 3/2/00 4:07:11 AM Pacific Standard Time,
> the_omega_man@xxxxxxxxxxxx writes:
>
> > To summarize, programming is a *means*, not an *end*. It is to be used,
> > *where it makes sense* to use it - specifically, where it
> reduces work
> > through automation. If it would be more work to automate a trader's
> method
> > than it is to just let the guy trade it, then programming
> makes no sense.
>
> As much as I hate to admit it, Om is right here. Today's market is a good
> example.
> The 1387 to 1392 area is a fibo 38% and 50% retracement of the
> 1-3 and 2-8
> swing highs. 1387 is the swing low on 1-5. There are a dozen
> other days in
> the last few months that found support or resistance (had a high
> or low) in
> this area. The market is congesting (so far) in front of
> tomorrow's report.
> Could this information be helpful?
> Knowing this would a day trader want to tighten up his targets / stops
> assuming today may become a narrow range day? Is there value in
> knowing these
> levels and evaluating how the market reacts to them? How much
> time would it
> take to program this stuff into a system that sez "trail a tight
> stop near
> 1387 and be extra careful near the close"?
>
> I am a strong believer in coding and back testing ideas. I like using
> mechanical system filters, but some valuable stuff is just not
> worth the time
> to code.
>
> Bill Wynne
> SmartTrades.com
>
|