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Strategies & Market Trends : Technical Analysis- Indicators & Systems -- Ignore unavailable to you. Want to Upgrade?

To: kx who wrote (2902)	11/6/1997 9:42:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 3325

I think you have to take into account, the time exposed to the market. Lets say buy and hold over 5 years gives 200% profit. While your system returns 100% but you were in a trades only 18 months. That system beats buy and hold. Also If buy and hold has large drawdowns and your system eliminates them, go with system. So exposure, drawdowns, and the fact, you are looking at a trade today, not if you would have bought and held 5 years ago or when your data started. The reality leaves buy and hold as just a curiosity, when our systems beat it, we rub it in to the believer that all stocks go up sometime.