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At 20:29 01/12/00 -0700, Brian Keith Voiles wrote:
>I was the one who broke. The system works when followed, and
>BTW, it is easy to follow.
>After following the rules the first two trades, I then traded my
>feelings.
>This evening I went back over the day
>and my system would've profited 12 to 15 points without much
>problem had I followed it.
I used to do that. First on feelings only (lost money) then on a working
system that I overrode because "something didn't look right". Lost money,
too. The system itself, if traded correctly and mechanically, made
money. I convinced myself to stop overriding it by a reductio ad absurdum:
1. I have a working rule set that makes money if traded mindlessly,
without any judgement whatsoever.
2. I still override it, expecting to make more money as a result.
3. If 2. above actually improves results, the criteria I use should be
*part of the rule set*, therefore the rule set itself should not need
overriding. If 2. above makes results deteriorate, I shouldn't do it in
the first place.
So, no matter how you look at it, overriding my working system by judgement
or emotions or in any other way was just plain illogical. Logic I can
understand - once I made the above clear to myself I stopped interfering
with my system. Every time I say to myself: "This doesn't look right -
should I get out ?" The answer is: "No - the stop loss is in place and the
system will make money overall with the stop loss where it is. Leave it
alone, you can only make it worse by meddling."
BTW, 12-15 points in several trades in a mess like yesterday would have
been a pretty good result - care to share that system with us ? ;-)
Regards,
Stefan Schulz
Suaviter Limited
prog1@xxxxxxxxxxxxxx
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