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In a message dated 98-08-27 07:12:22 EDT, Proffittak@xxxxxxx writes:
<< Every system works >>
I disagree completely. There's a false impression that following your system
is more important than the system itself. This is ridiculous. It's extremely
important to mechanically follow your system - granted......But its more
important to have a profitable system. Most poorly designed systems trading
mechanically on "near random data" will break even before transaction costs.
Transaction cost will cause most poorly designed systems to lose money.
So what's the answer? What's a NON-poorly designed system? What's a
profitable system?
It is a system with "an edge". A system that takes advantage of some
inefficiency in the market. A system that profits from the psychological
extremes of market participants.
Let's stop professing that "every system works" and only the trader is at
fault. If you lose money with a mechanical system, it may not be you. The
system may suck!
Best regards,
Jerry Rehert
August 27th, @ 07:09 pm
Check My WebPage-UPDATED 8/26/98:
http://members.aol.com/grehert/
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