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>>I use to recommend that traders gain as
much as possible from Nassim Taleb's website, especially
reading his free online book, FOOLED BY RANDOMNESS.<<
A rather long winded discussion on a simple, yet
extremely important subject. I would summarize
his theseis as follows:
Don't try to guess if the market is going up
or down. Instead, think of the market as almost
random and try to maximize your expected return
by covering both possibilities with appropriately
laid odds.
You won't be a shooting star, but you won't
burn up in the atmosphere either.
>>I'm not equating a random lottery with trading the markets;
I have far too much respect for the markets. But the top 10
systems in FUTURES may have no greater claim to fame than
the above lottery winners.<<
These 10 systems may be simply exploiting the
current nature of the market, and that nature
could change tomorrow. But by maximizing
expected returns through statistical analysis,
you can weather almost any sudden paradigm shift
in the marketplace. Do any of these 10 systems
perform expectation analysis? Who knows.
- mark jurik
Regards,
----- Original Message -----
From: "Thomas Alexander" <alexander_enterprises@xxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Saturday, June 09, 2001 8:50 AM
Subject: Futures Magazine Review of Systems
> Good morning successful, stalwart, generous and brilliant
> traders!
>
> This month's Futures magazine had a review of several top
> systems which had rather impressive returns. The amazing
> thing was their cost! Even at minimum wage, I've easily
> spent many times that amount in my own efforts of system
> development. It was a real eye opener (Read: "Slap in the
> face" here).
>
> Does anyone have experience using any of those systems or
> comments about purchasing them? What I'm trying to gauge
> here is my arrogance around, "I'll write my own winner"
> versus "I'm just here to make money."
>
> Thanks!
>
>
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