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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Brandon who wrote (9052)	6/20/2000 1:38:00 PM
From: TraderAlan	Respond to of 18137

Brandon, <but they forward test damn well> Quick get Bill Cruz on the phone. This will keep Omega in business <g>. You know what they say: if you get to the end of the year and the P&L look good, your system worked. Alan

To: Brandon who wrote (9052)	6/20/2000 6:31:00 PM
From: Brandon	Read Replies (1) \| Respond to of 18137

I think there are a lot of engineers here because I a few PMs a bout this. If I want to put a system into a computer and have the machine trade for me, that system MUST backtest very well. However, as a descretionary trader...I have descretion. One pattern I trade a lot is a breakout buy above a base and its been very kind to me. But, It wouldnt suprise me that if I took every single entry the pattern generated id be angry and broke. Thats because I will look at other things in the context of this pattern. If the futures are looking lousey, but I have a text book breakout pattern will I trade it? Probably not, but sometimes yes..it depends. If most things are going my way and the base is broken by my standard amount, will I enter..again, probably yes, but maybe not. What if the break occurs on only a few trades of several hundred shares and I suspect its simply an arca order with no real backing behind it. Then ill pass. I think this is the most frustrating part of trading for most people, that its not all absolute. There is a ton of gray. I think it was Ed Seykota that said the rules of trading are never break the rules, and know when to break the rules. Im paraphrasing, but its a point a lot of people miss. Brandon