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Hi
Ira,
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80% is
an exceptionally high win %. Have you ever calculated your Avg WinLoss
ratio? Most people with this win% are almost alway less than 1. Can
I also ask what is the avg number of trades per market per year? I suspect
from the charts you put up that they arent overly common or short term.
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<FONT face=Arial color=#0000ff
size=2>thanks,
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<FONT face=Arial color=#0000ff
size=2>Adrian
<BLOCKQUOTE
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<FONT face=Tahoma
size=2>-----Original Message-----From: Ira Tunik
[mailto:irat@xxxxxxxxx]Sent: Thursday, 11 April 2002 2:58
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT] Dumb
question....what is a system??????In developing a system
you first have to set up the parameters that fit what you want to
accomplish. I wanted a simple system that provided an Entry Price,
specific target prices for exit, a specific stop based upon the chart, the
ability to adjust it to my money management system, one that would work in all
time frames as well as on stocks, futures and indexes. It had to have a
high probability of success. Then I started to filter through everything
that I knew about the market, the indicators, other systems like Eliot and
Gann, until I found the things which fulfilled the parameters that I set
forth. It also had to be simple to operate with a minimum of
parts. There are only three parts and the utilization of multiple time
frames. Each trade has an 80% probability of success. Some who use
the system do better then that and others not so well. It's like
everything else in trading. it is dependent upon the party that is using
it. It is 80% mechanical and 20% discreational. It is the 20% that
gets some. I did not create anything new and wonderful. Every part
of the system has been around for 50 years or more so I didn't reinvent the
wheel. I just put the wheel together so that it operated best for
me. Hope that this helps explain what I did and how I did it. Ira.
Sean Cassidy wrote:
When you say system Ira.....do you mean
something , a set of rules, that you developed? Or do you mean something
that you purchased from a software vendor, which I doubt, although I have
been using one for stocks. My basic question is...how did you ....or anyone
for that matter, learn to develop a "system"? <FONT
face=Arial>SeanTo
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