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- OmniTree replied Sep 22, 2011
I would argue that you likely already employ a rules-based system, even if only to the extent that you utilize strict equity management. That said, I acknowledge a systematic approach cannot hope to encompass the intricacies found within a chart. ...
- OmniTree replied Sep 22, 2011
Mechanical systems are a pitfall, with no 'analysis' whatsoever, simply point and click or worst a blackbox EA, there is no learning. However, a systematic approach using strict rule-based entries and exits can assist a trader get over the initial ...
- OmniTree replied Sep 21, 2011
It's up to the trader to want to grow and adapt. There will be cases of complacency, just as there will be traders who grow and advance. In the end, if a strict rules-based (systematic/mechanical) system can help a trader advance his or her ...
- OmniTree replied Sep 20, 2011
Based upon the above it seems to me that in the end, the form a system should (must?) take is dependent upon the current developmental state of trader psychology. At least based upon the stand point of consistency, although additional resultant ...
- OmniTree replied Sep 19, 2011
I would add that as far as discretionary = subjective + systematic (mechanical), it must be the best parts of a subjective view. Where subjective can, in many circumstances, be completely negative i.e. The moon was Blue the night before, therefore ...
- OmniTree replied Sep 19, 2011
I considered mechanical as your definition of systematic. For to be successful a mechanical system must be defined through intense study and a formal set of rules. So like discretionary, there now becomes subsets within the forms. Each form as ...
- OmniTree replied Sep 19, 2011
It could be said that any system must be tweaked over the course of time to adjust to changing conditions. However, the core of the system remains in place. Perhaps the core methodology? This would be the case for either form, mechanical or ...
- OmniTree replied Sep 19, 2011
Ok, but based upon the above definitions, could it not be said that subjective is a subset of discretionary? Specifically that of the 'useful' subset.
- OmniTree replied Sep 19, 2011
I can't see that as the case. Where a discretionary trader may be mechanical in nature. The inverse cannot be said without becoming discretionary. A mechanical trader is just that mechanical, he or she accepts the system signal as is and responds ...
- OmniTree replied Sep 19, 2011
IMHO, this is as solid a set of definitions as can be found.
- OmniTree replied Sep 19, 2011
Is it not discretionary when a trade is placed based upon a tool not found within a given system? While there are traders who place trades based upon the cycles or the moon or the answers to prayers to the deity of their choice. The majority, if I ...
- OmniTree replied Sep 19, 2011
I refuse to answer on the grounds that it may indicate my state of mind. Oh wait, that's an answer in and of itself. On another note: Why do people use an analysis station and a trading station? What benefit is gained outside redundancy is gained by ...
- OmniTree replied Sep 19, 2011
Interesting point, thank you for pointing it out. No pun intended. I had intended to provide a negative to mechanical systems to counter the positive.
- OmniTree replied Sep 19, 2011
That is exactly the benefit of a systematic or mechanical system. However, are there benefits of a discretionary system to compare? I'm not leaning one way or the other, but trying to find an answer through discussion.
- OmniTree replied Sep 19, 2011
Please explain how what I wrote is 'copy pasted'. Can someone with years of experience accurately define every single variable they use to classify the validity of a trade? I'm not referring to those variables found within their system, but those ...
- OmniTree replied Jun 28, 2011
Honestly whats the big deal with someone posting or not posting their live trading details? So you can post your best single period of data. I know plenty of traders who make oodles of money consistently, yet couldn't teach a flea to jump. Someone's ...
- OmniTree replied Feb 21, 2011
To be honest, while MT4 is great there are flaws. One such is a very weak order entry system. Look at either NinjaTrader or Dealbook 360 and you'll see two very strong order entry and handling systems.
- OmniTree replied Feb 21, 2011
There are many Trading apps from simple Charting apps to apps from which you can trade. One very good application from strictly a Charting perspective is Fibonacci Trader ( url ), specifically the SRV version for Forex. It has a $55.00 per month ...
- OmniTree replied Apr 11, 2010
Looking at the 1hr, there has already been a test of previous Support. I think the best bet is to wait for a new high to form and look for a test of 1.5380 or low defined by price action. That would have the benefit of limiting the size of the Stop ...
- OmniTree replied Jan 26, 2010
Here is a fear I haven't seen listed and thought to get opinions. Fear of lack of knowledge - tied somewhat to Fear of Loosing and Fear of being Wrong, this fear is related to being afraid that you don't know enough about Technical Analysis, ...