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If you are a system trader then you blindly follow your systems entry and exit
points. You should not care what is going on about you as your system knows
all and does all. If you are a trader, one who uses a system to guide his/her
trading, then it is what you see on the screen in conjunction with your system
that dictates your trades. It will be the picture that tells you whether the
trade will be good or not. The entry and exit points, given by the system you
use, are guide lines that should provide a high probability of success. Ones
understanding of what his system is telling him to do versus what the picture
of the market, given by the chart and indicators, is showing him will determine
whether it will be a good trade or not. It is the trader, in this case, that
will make the decision, and the traders knowledge and understanding of what he
is seeing that will determine his success. Excuse the almost exclusive use of
his, I know that there are hers out there, but it is easier to just type one
word. Have a good week, Ira.
Tom Alexander wrote:
> Hi Gwenn,
>
> Thanks for the excellent description. She is obviously a very good trader
> and it is my experience that the best traders definitely understand and
> have a refined ability to read the "flow" of the market. This is also maybe
> THE primary difference between discretionary traders and system traders.
> While Ratscke (sp?) is very disciplined, evidently she relies quite heavily
> on her experience to manage the setups and subsequently the positions once
> they are taken as trades.
>
> Regards,
>
> Tom Alexander
>
> ----------
> > From: Gwenael Gautier <ggautier@xxxxxxxxxxx>
> > To: 'Tom Alexander' <gta3@xxxxxxxxxxxxx>; Realtraders
> <realtraders@xxxxxxxxxxxx>
> > Subject: AW: Street Smarts
> > Date: Tuesday, August 31, 1999 10:58 AM
> >
> > In her book, there is an extensive description of the various entries.
> Nice,
> > although they didn't make much sense to me.
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