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Hello ramon,
r> For what it's worth here is my view. Before I get
r> into it, I'd like to define what I mean by a discretionary
r> and mechanical trader.
r> A discretionary trader is one who has a rule structure
r> but will be prepared to override the "rules' signals".
Let's think about this. If a discretionary trader intentionally
overrides his rule structure? Then it's obviously PART of his rule
structure. Do you not think that the override is thought out and
planned in advance? It's called a bail out or a reversal in
PROGRAMMING LANGUAGE!
r> A mechanical trader is one who follows his rules
r> without deviations.
All he has done is what the discretionary trader is not capable OF!
r> a trading plan with an edge, winning psychology and
r> effective money management.
Think about this. The psychological process of trading can be solved
sooner by having a method which has been thoroughly statistically
proven. But if do not have a method that's sound nerves of steel will
not make you a winning trader.
--
Best regards,
Mark Brown mailto:markbrown@xxxxxxxxxxxxx
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