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Justin,
JF> differing requirements, differing capital,
JF> differing technical understanding, different risk aversion,
JF> different time availability etc. etc.
Exactly why it is impossible to buy or lease a system that suits me
and most everyone else.
JF> "locked" set of trading
JF> rules, is the rules are never revealed,
No way. How could you follow that. I guess some do but not this boy.
JF> would personally like a rating system
Never happen.
JF> I wouldn't be the first to suggest most of the "classic" (1929) trading
JF> books were released by failed
JF> traders looking to recover losses.
Don't criticize them too much. We might be doing it if things go
really badly. LOL.
>>Good luck to you designing systems. While the end system might be simple,
>>the task of thinking it up is not easy at all. Believe me, cause I've been
>>at it for many years.
>>
JF> I think almost everyone on the list is in the same boat.
I think it is eight years I've been building systems on Tradestation
and many years before that without TS. Got a few that are ok but I
could never trade them. Good exercise to build them. You learn a
lot.
JF> to read "A professional fund manager has less of a chance of loosing
JF> your money than you do".
And he will make less also. Well that is if you get really good at
trading. I vote give him the big money and keep the small money to
mess with yourself.
JF> When it comes to fund managers, I would look for 10+ years history of
I agree on equity funds but would a good commodity manager stick
around that long? I don't know.
JF> For systems, longer term results with broker statements are a minimum
JF> requirement. On top of this you
JF> need to know what the data requirements are, a decent data feed
JF> (Reuters/Bloomberg etc) is ~ $25k/yr
Yep it is easy to get taken and I'm convinced all of the systems for
sale are junk. I really don't think you need a high dollar feed.
Maybe because my way of trading allows for less than perfect feed and
I stick with very high volume symbols. Need that for my huge trading
size. I'm not trading anything that trades less then 50,000
contracts when I risk my 5 contracts.
JF> of charlatans
Ah yes they are. I think they exist because so many are so desperate
to make it big trading. Mostly the Charlatans make it big I think. I
really wish I had it in me to be a Charlatan.
Some of Jimmy's rules.
1. Give me simple rules I can follow in the heat of battle.
2. Trade a few less contracts than make me nervous and do stupid
things.
3. Price talks never argue with what it is doing. I learn this one
regularly. Indicators are only crutches for blind people like me.
4. Be sure you have adequate income so you don't have to make a penny
out of the market.
Trading should be fun or at least not so stressful
that you eat a box of pencils per day. Or ball points if you don't
use pencils. I'm a ball point man myself. If I eat it before it runs
out of ink then I quit trading. Maybe that should be rule 5.
Lets all talk some more about trading. Maybe some newbies can ask
some really dumb questions. It's the only way to learn and dumb
questions are not dumb if you don't know the answer.
Jimmy
TS2ki fix it man and part time trader
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