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Hi Z,
I may have been guilty of pressing the "send" button before using the
"think" button, but your language in that paragraph strongly suggested that
discretionary traders are somehow intellectually challenged, or I
interpreted it that way, and then took offense at that suggestion. It was
also 5 in the morning...:-).
In terms of "camps", I don't look at things that way. There are all kinds
of ways to trade and the only "best" way is the way that works for you. I
don't know that much about statistics and even less about programming or
system writing, but I do know how to trade and strongly believe my way is
the "best" because it works for me. But I am always trying to improve, and
I'll look at just about anything to see if there is any way that it can be
used to improve some aspect of my trading.
90% or more of what I look at turns out to have no value to me, but every
once in awhile you'll find something that makes the ongoing effort
worthwhile. Fibs are an area that is of interest to me even though my
current view is that they don't have much merit. Having said that, just
because I haven't figured out a way to use them effectively doesn't mean
that there isn't one, so I am more than open to having my mind changed. So
this thread, believe it or not, has actually been of interest. However, up
until just recently there hasn't been anything in this thread that allowed
me to ask myself "can this be traded somehow?" and if so "will it help me in
some way?".
I guess the long-winded point I'm trying to make is that I don't find this
"camp" way of approaching every topic at all worthwhile. We're all traders
at some point in the learning curve, so maybe it's best to look at each
other that manner instead of on opposite sides of some meaningless boundary.
I could never trade mechanically and others may not be able to trade the way
I do, but that doesn't mean we can't be of help to each other.
Bob
----- Original Message -----
From: ztrader
To: realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, April 16, 2002 10:46 AM
Subject: Re[6]: [RT] FIBO DISCUSSIONS GOING OFF-LIST
On Tuesday, April 16, 2002, 3:35:33 AM, Bob Heisler wrote:
BH> When I see obnoxious comments like the one above it reminds me of
BH> how fortunate I really am.
I am sorry if my comment upset you. I was trying to expand on the
rather astute observation by Earl Adamy that there were two camps
here, with different beliefs, and, to quote him, "While discretionary
traders can offer examples, I see no way in which discretionary can
offer "proof" due to the complexities of mechanizing a process".
Perhaps you can better explain why there is 'no way in which
discretionary can offer "proof"'. I'd be interested in your view of
this, and of the two camps. How would you characterize the two camps?
BH> It's kind of funny....one of the better traders I know is a former
BH> math professor who definitely falls into the discretionary camp.
As I said in my reply to Earl, I believe there is a third camp - and
there may be a 4th, 5th,... and so on. And, of course, it is always
possible to have "exceptions to the rule", as they say. FWIW, I also
think math folks can be quite intuitive, so I'm not disagreeing with
you at all.
Perhaps you have a suggestion for a more effective way to build a
'bridge' between the two camps. If you are going to 'blast' mine, I
would hope you have a better approach in mind. Please tell us.
BH> Btw, when's the last time you or any of your "computers are better than
BH> people" buddies actually placed a real trade?
I don't think I ever suggested that computers are better than people.
I don't believe that, I never said that, and I'm not sure why you said
it. Could you explain how you came up with this?
But to answer you question: yesterday and today. :-)
ztrader
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