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I have tried 3 times to response to Gary. your points are the ones I wanted to make. A system has to be tested and retested. You have to trust it. you will have losing trades, but you keep them small with system design and % stop losses. A mechcanical system takes emotions of hopes and wishes out of equation.
I have seen many new "systems or indicators" come thru, my first question: How does it test or compare, many times, there has not been even the first system test much less the 10s or 100s that should have been conducted. But thru all this remember it must be your system, not that you can't use something developed by others but it must fit your mindset. I put Stochrsi on P* about 3 years ago picked up from Tushar Chande (one of the best TAers). I rarely use it, it doesn't fit me, or test well for me. That doesn't say it is bad, It just isn't mine.
OK, for those that don't go to indicators. I don't care what you do but you better have a system that you can reduce to writting that says when you enter or exit. If you don't you can have your lunch eaten.
The system of the week club is a good one to belong to, always be on the watch. But real money should be risk on YOUR SYSTEM THAT YOU KNOW AND TRUST. Don't divert from it, if you do and suceed on a trade, you learned the wrong lesson, it will get you later.
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