The fact that this came from the mojo captain of the p/l thread (no offense, Bob) makes it that much more relevant. And hilarious.
Off topic. But this thread reminded me of my first mentor who told me, "Gut feeling of a trader is like a dog wanting to fuck a bitch."
Agreed. I don't think it takes a math genius or programmer to succeed in trading. In fact it may be detrimental. Read the story on the Long Term Capital Management's meltdown in 1998. They hired a team of PhDs in math, and two of whom had received Nobel prizes, to work out some program trading to achieve a 40% return year after year for 3 years. And then they lost huge in just one day. The market environments had changed and their assumptions were no longer valid.
+1... there are limitations to systems and the algo programs. A human mind is still more powerful than a robot. Markets continually change too, so any backtested programs may soon become irrelevant and unprofitable. Don't underestimate intuition or gut feelings... no computer is sophisticated yet to calculate this criteria.
the thing that we need to lose that the animals on nature shows dont have is emotion, specifically pride ,or the need to be right on a trade,this is what trips up the mental trading process
Typically I will trade 30-60 different stocks in a day, with multiple entries, adjustments, and exits for each. I'm in the process of automating some stuff, but it's in addition to my core trading. Stuff that I can't do manually...