PureBytes Links
Trading Reference Links
|
I would submit that the least important part of a trading system is the
entry signal. Next in importance is the exit signal. The most important
part of a trading system is money management. Without these three in
combination, you do not have a trading system, you are simply gambling
(guessing) when you place a trade. The previous two emails are correct.
Each must find the system that fits their mind. If someone has been trading
for years, finds someone who is making twice the amount they are, and is
shown that system, rarely will it work, right away, for that person, for the
new system more often than not will not fit what they perceive to be a
trading system, i.e. entry, exit, money management. They must re-think
their
trading style before they can make money with the new system, unless of
course, it is purely computer driven, and the trader is able to keep all
emotion out of the trade, which, with newbies, is rarely possible.
Some of the most successful systems lose 35% of the time.
Some of the least successful systems win %65 of the time.
Kohath
> At 06:56 AM 7/27/99 -0700, Ira wrote:
> "It is not the system as much as the trader that makes for success. ...
> There is no system that can guarantee success. ...So Norman can astound
> the world with his results, and Arch Crawford can be wrong using the same
> system. ...Use what makes you money, and if you haven't found it yet,
find
> someone to help you. Ira"
>
> I would second that opinion. I am sure that Norman's system produces as
> many (if not much more) "wrong" signals as the "right" once. It is Norman'
> s skills in selecting and using the signals of haven with combination of
> his earthly experience that may help him select his prediction.
>
> As of making money, any one who made at least one trade know that
> prediction is only a small part of making money.
>
> Alex.
>
>
>
|