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On page 58 of this month's Futures magazine, there is a great article on
buying trading systems. Here are the premises:
1. Never buy a system from someone who doesn't trade it.
2. Never buy a system that isn't tailored to your trading style (end of
day or daytrading; risk; # of markets you want to trade, etc)
3. Never buy a system that does not have a real-time record (one-year
for day-trading systems; 3 years for end-of-day systems).
4. Consider evaluating the system on a real-time, trial basis.
5. The most limiting guideline: never buy a system from a vendor that
will not disclose ALL the rules. No black boxes!
Following these guidelines should limit the grief related to buying
systems that do not perform as advertised.
Bill Bancroft
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