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PG,
You asked about mechanical systems, far below is a quote from another RT'er
about NLP and mechanical systems.
My words of wisdom are:
Trade the time frame you are comfortable with.
Trade markets you have an affinity for.
Trade markets where you win the most $$$...net net
Use indicators that "make sense to you" and have draw downs you can easily
live with (they may be worse in the future).
Enjoy doing it.
RM
There is a nice idea in NLP about the progression of
he learning process.
unconsciously incompetent: we can't trade but think we can.
consciously incompetent: we can't trade and know we can't.
consciously competent: we make money by following set of rules
and never breaking them.
unconsciously competent: we make money trading by "doing what
comes naturally"
consciously unconsciously competent:
we make money trading by "doing what
comes naturally" and know what "doing what
comes naturally" means to us.
It's the last stage where I'd feel confident enough to explain my
trades.
At 11:08 AM 7/31/98 -0700, Peter G wrote:
>RTs:
>
>Thank you for all your responses about capitalization. I appreciate the info.
>
>If anyone would like to briefly describe their methodology that would be
>great.
>Fibs or SD bands or "price action" or EMAs etc. I would like to hear more
>details from the "price action" crowd e.g. you buy/sell breakouts from
>consolidations, you buy on 3 higher highs and lows, you use formations like
>the spike and ledge, H&S etc.
>
>Market comparison... There are obviously some Bond traders out there who
>much prefer it to the S&P. Until this point I had not considered Bonds.
>Pros and cons?
>Any Yen or DMark traders out there? Care to comment?
>
>And of course the big battle... mechanical system versus discretionary.
>
>PG
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