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Mechanical trading vs. discretionary trading
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Mechanical trading vs. discretionary trading

  #81 (permalink)
Urban Samurai
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Lornz View Post

Maybe I should post the results and sell my "system" to the unknowing public?

Are you ever going to talk about your statistical ideas?

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  #82 (permalink)
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  #83 (permalink)
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Override natural instincts


Thanks for everybody for sharing your thoughts. There are lots of interesting things in your posts.

Now I just want to cite from one of the posts of @worldwary, because the following part seems an important thing of the topic to me:




worldwary View Post
Trading is gambling by its nature.

The trick is whether you're able to consistently keep losses small and winners large. If so, you could trade using a Magic 8 Ball as far as I'm concerned. It could be argued that all these trading systems, discretionary or mechanical, are really heuristics designed to override our natural tendency to do the opposite: exit winners early, and hold onto losers in the hope that they'll "turn around." Use whatever method gives you enough confidence to override those natural instincts.


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  #84 (permalink)
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Arpad View Post
Thanks for everybody for sharing your thoughts. There are lots of interesting things in your posts.

Now I just want to cite from one of the posts of @worldwary, because the following part seems an important thing of the topic to me:

If you think of trading as gambling then you have to position your self as the 'house' where the odds are in your favor. Or, you have to view it as gambling games where the odds can be calculated, like counting cards at the 21 table, or knowing that slot machines are programmed to give payouts a certain percentage of the time, you choose a slot machine that you observe has not given a payout in the last 100 pulls. You have to choose a game (strategy) where you have an edge

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