|
PureBytes Links
Trading Reference Links
|
At 06:59 PM 5/28/98 -0500, charles meyer wrote:
>Peter wrote in response to my comment that:
>
>> There are plenty of techniques, some are mentioned in Douglas' book, on
>how
>> to find out whether a system can be trusted. No mechanical system is
>> perfect. Six successes out of ten trades is good.
>>
>> We should not expect everything in one book.
>
>
>> petena9090@xxxxxxxxxxxxxx
>
>Peter, I have the 1990 edition. Am I blind, or will you point me to the
>pages mentioned in Douglas' book? I also attended one of his seminars
>in Chicago.
>
>Charles.
>
Charles,
I have the same edition. I was not looking for the systems recommendations
that
you were. I am satisfied with my own system (not publicly available) and
found
Douglas' book the useful supplement.
I went back and found a couple of suggestions from him:
Douglas suggests on page 189 that symmetrical price patterns are not an
accident, which to me means a system is needed to find them.
Douglas suggests on page 209 that one should choose a technique that
identifies a pattern, preferably one that is mechanical rather than
mathematical.
I don't recall where he said it, but I seem to recall that he acknowledged
that backtesting is a requierement.
Pages 20-21 briefly discusses trading systems and clearly states that Douglas
does not offer trading systems in this book.
I admit that his focus is narrow and that the book title is not a full
giveaway
of that. I find that advice on this e-mail exchange has been the most
valuable
source of ideas for finding/developing a good mechanical system. The problem
for me, until I found this book, was to keep my feelings from screwing it up.
Tradingly,
PeteNa9090
petena9090@xxxxxxxxxxxxxx
|