Mike you couldn't be more right. As a matter of fact we have several systemic traders using statistical algorithms very successfully in the book. So I think the proper way to phrase my statement is that yo cannot engineer an exit . Allow me to explain. Two of the guys use systemic approaches to entries, Dana Allen is extremely successful in doing it in equities and options and he goes into great detail about how he does so. However, his exits -although systematically based - are always manual in the end. Another guy - one whose interview I believe you will find most interesting - Hoosain Harenker uses a fully automated approach - BUT and its a very interesting but - his software robot automatically tightens stops very aggressively once the trade is in the money. So he never allows a winner to turn into a loser, but he often does not get his initial target. He is btw a high frequency trader, shooting for only 10 points/day. My point being is that both of these traders recognize that stops and limits are dynamic rather than static concepts. Markets could not care less about either one of them. Every trade therefore is an exercise in the ART of Trade Management - even if it is systematic in its origin . Hope that clarifies matters
I have a copy I'm willing to part with, if you are tired of waiting, and want to get your copy ASAP, drop me a PM.
I was not able to translate jacks text so I went over to www.gizoogle.com and used their "textilizer" to get the translation. Here it is, Thanks fo` yo response n shit. Im stoked fo` tha intern, hopes she links tha trades she is mobbin' I can appreciate yo rizzle world n how you is basically surrounded by those of like mind. Go over ta yo computa n look at tha sequence of indications thizzat a continizzles of price movement is com'n ta an end by spendin' at tha premium, tha price n volume (if you have one constructed) n tha DOM n tizzle charts n we out. Also glance at tha lead'n indications of tha traded price yaba daba dizzle. Ask yoself dizzle hizzy a set of indications thizzat is a reliable set? does thizzat set have differizzles thizzat appear? do these sets of differizzles sequence accord'n ta a regular pattern? The bitch is standard, we all kniznow T-H-to-tha-izzat in tha hood. Humans sweep these frequently, ATS does it many many times wanna be gangsta than humans . Chill as I take you on a trip. IT, today, makes ATS manditory spittin' that real shit. At some point tha exit n entry become one n it is known as a reversal crazy up in here. Many thugz have discovered tha degrees of freedom fo` perpetratin' any market cuz its a pimp thang. These sets of indications vary as tha market informs tha trade, eitha visually or automatically� n' shit. If is so very fortunate T-H-to-tha-izzat tha markets data is so easy, in modern times, ta process . You'se a flea and I'm the big dogg. People need ta use tha powa thiznat is available ta be on hand. it aint a traded tiznurn anymore that matta; it is being empowered wit technology thizzat shot calla and my money on my mind. My comments do enliven any thread. There is many reactions ta T-H-to-tha-izzem . Throw yo guns in the motherfuckin air. I do cracka yo responses n intiatives like any one else does . Real niggas recognize the realness.. Think'n up not hav'n me hizzle is an interest'n one.
I just spoke to the publisher and they are going to expedite the Amazon order, so hopefully it should take no more than a week or two to get the book. We are trying our best to make sure guys can get the book ASAP.
Why does the price keep changing? the other day it was $23 now its back to $26 ??? Is it a better version for the extra 3 bucks?
BTW - Anyone wants to see my FOMC call on CNBC today its here. http://www.cnbc.com/id/15840232?video=520398998 I am hardly out of the mainstream here (which worries me a bit) but let's see if I am right.
I have gotten quite a bit of interest in the copy of the book I have, so I put it up on Ebay. Here's the link! http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290162121122