Oddtrader I do not know why you should be confused, what I was basically saying is that people who think they have a great system are only fooling themselves or bullshitting other people, or both. If anyone had a perfect system it would not last long as the rules of engagement and markets would change, otherwise anyone with such a great system would soon become so rich that that in itself would affect the markets. I never know why people think there is such a holy grail to such riches. Basically people who can trade successfully get on with it and make money with hard work. People who are no good at trading teach other people how to make vast sums of money trading.
Many thanks for your additional note, Denise. Actually I was only surprised (with a confused smile) by your insights. Q "... I think most, if not all, of the traders we've interviewed have recognized that if there's any secret or Holy Grail attached to success in our business, it comes from within. It has nothing to do with any specific indicator or system. It has to do with how you perceive the markets and operate within that context of your own psychological makeup." --- The Day Trader's Advantage (by Howard Abell) UQ However, there might be possibly certain exceptions we probably don't know/ understand yet. Cheers
I'm not sure how 'famous' these systems are, but I know they work well and have made money - www.capitalberkeley.com
"Come on, this is bullshit. I have a cd with 400 trading systems - there must be something good in it. I want to know if there is a site that rates all these systems, even if it will say "this is shit". Well i wonder...What are the other 399 systems doing there if there is a good one? ) Maybe when one stops working we go to the next? Yes if we like beeing a loser that´s a very good idea. Just commercial psychology "the more systems you have the better chance you´ve got" But i guess there are people developing good systems even if they are easy counted..1..2..3 Another site is www.systemrank.com
Why donât you find out for yourself? I just finished returning Metastock http://www.metastock.com . It did everything I wanted it to do and way more, but donât think it would have made me a dime if I actually used it in trading. Nothing against the software, I actually think it was fun using all of the different indicators (as well as building my own) to backtest different systems against as many stocks as I wanted. You can also have it do all the optimizing and curve fitting you want (yes, I too am snickering at that). The language to define your own indicators is pretty easy to learn. I think it was well worth the S&H charges and running my computer all night to optimize multiple variables across a set of ~2000 stocks to at least get figure out once and for all that system trading isnât for me. For now I will be sticking to having discipline, a pair of balls and a love of the markets.
If you think my reasoning is faulty then explain yourself, with reasons, also I did not assume others were confused.
The Turtle trading system was known to work and was set up in 1983 as an experiment by Richard Denis. This did work in a big way then and proved his theory that good trading can be taught to an amateur or in this case 6 amateurs. This system is being sold for vast sums by some failed traders but they are available for free courtesy of some of the founders The rules (for anyone who does not already know them) are at http://www.originalturtles.org However would they work now, who knows and you would need a lot of money to prove it as the system can have a lot of consecutive trades go against you and many do not have the nerve, money or discipline to follow the system to the "T" But at the end of the day it is just a channel system based on Richard Donchian's breakout system, the system is simple but the trading rules are complicated. I still stand by my view that there is not one trading system which is better than all the others in all market conditions. If there was then everyone would use it and the market would change dramatically.