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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: wiley murray who wrote (2314)	8/24/1998 12:55:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

>>In any of your posts have you outlined the basics of your mechanical system that you use to trade over the years? If so please give me the post reference. << Wiley--I have described some of the components that make up the system on several posts on the options thread. One was in response to a post by Jim Cordes--an awful long time ago. Not sure how one would go about finding it. It mentioned several of the components but in a general way. >>Also I have bought the book "Trading for a Living" by Elder. Do you use any of his methods in your mechanical system. << No I don't -- but I often take some one's ideas for a system and begin to play with it to see if I can improve it in some way with other indicators and tools. In fact, my system -- is really a hybrid of other people's ideas--but modified in a way that makes it works better. I have also posted in the past, on developing stable systems, the dangers of curve-fitting and so on. My system, with very minor changes to the parameters, works on a variety of markets--that is the mark of a stable system, IMO. Like I said before, it is a constant learning experience. I welcome suggestions on how to improve my trading skills--Pat has become my mentor as far as day trading is concerned. The one piece of advice that I would give you is to develop your own system--test it over 10 years data, paper trade and then real-time trade it.It is very difficult to trade using a black-box or a system that you have not tested over time. You will have no problem taking the signals when you are making money--but when you have losing trades, you'll dump the system--and since EVERY system will have losing trades, sooner or later you'll end up dumping any system that you have not ascertained REALLY works. It really is that simple. Good luck

To: wiley murray who wrote (2314)	8/24/1998 2:40:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Wiley--a couple of other thoughts on systems Bruce Babcock used to provide a newletter of sorts that dealt with the relative performance of different systems/advisory services--a kind of Hulbert type service with the focus on futures as opposed to stocks. I think he may have sold this newsletter and some one else is now running it--but you may want to check this out, before you buy any system or use any advisory service. I think that it was called "Futures Truth" or something like that. Gerald Appel--of MACD fame--has an outfit called Systems & Forecasts that sells systems at a reasonable price. You may get ideas on how to develop your own system through reviewing some of these. I bought this a long time ago--and it gave me about 20 systems -- some good and some just OK. I don't use any of them today, in my trading. EDIT: All of this info may be dated; have not had any contact with either of them in years.