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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (672)	7/3/1998 4:55:00 PM
From: Eric P	Respond to of 1729

I don't know if you have been keeping up with this thread, but the mechanical system that Darren was referring to was not a 'black box' or 'one-size-fits-all' kind of system. He was referring to implementing his own unique trading rules into an expert system platform which would follow his rules instantaneously and precisely. As I mentioned in post 590: The platform I discussed will not eliminate or even reduce personal decisions or the need for research and analysis. Instead, it will merely allow a trader to plan his/her trading at any time, THEN have the computer execute his/her plan precisely while the market is open. You are 100% correct that the markets are continually changing and that a great trading system in 1987 may not still work in 1997. That is why successful traders continually adjust and refine their systems based on recent experiences to remain successful. I don't think Darren or I were suggesting that some magic system exists that will be profitable forever. We were simply pointing out that our own personal systems could be more profitable if they were implemented with more speed and consistency than is manually possible. As you said: IMO there is simply no other approach available that will be consistent and continue to work well into the future but to develop your own approach and "system" to the markets. I think you, Darren and I are in complete agreement. Maybe I am missing the point of your post. -Eric

To: Robert Graham who wrote (672)	7/3/1998 7:48:00 PM
From: Darren	Read Replies (1) \| Respond to of 1729

Many appear to look for that "secret" that will make then riches in the market. Sorry to disappoint, but it is simply not there. The market has been around for over 100 years. I do not think there has not been a system yet devised that has remained successful in the markets over the long run. Otherwise, I am sure the news on such a system would of come out by now. That system would be worth a high cost to those who want to make their money this way. I am sure there would be people willing to pay six figure prices for such a system. For the beginner looking for that easy road to riches, perhaps it is time to get to the work at hand: learn about the markets and go through the lengthy and challenging learning curve that cannot be sidestepped in one's pursuit of success in the markets. And then develop a system that will work for themselves instead of adopting a system they have no clue about how it works or its limitations or specifically how well it will work for them. IMO there is simply no other approach available that will be consistent and continue to work well into the future but to develop your own approach and "system" to the markets. I disagree. If I'm smart enough to find a method to beat the market over a long period of time, the last thing I'm going to do is sell it to the public so they can use it and someone can make a concerted effort to defeat it. Also, regarding an expert system, each stock has it's own particular character or personality, but that doesn't mean that movements can't be predicted with some reasonable degree of success...I agree that you need to find your own niche, but I do believe that if I could program a system to trade the way I trade, I would actually make more money because emotion and human intervention would be removed from the equation. If the pattern changes, then turn the system off and look for a new pattern...if it's 3 trades and you lose $300 per trade (-1/4 + commissions), it has cost you a whopping $900 to figure out that the pattern has changed. Big whoop, if your expert system is bringing you 1K per day... Again, we aren't talking easy riches. We are talking the automation of an already successful trading pattern...