ditch -- that's one reason -- of many -- to automate the systems
-- you don't have to watch what they're doing and be emotionally
involved in it. It just uses up a lot of personal energy for no
good reason.
There's a quote from Ed Seykota -- "if you want to avoidf
whipsaws, stop trading."
Meaning that if you are trading, there will always be
whipsaws. The challenge as I understand it for myself is not
to avoid or eliminate whipsaws, which is impossible, but to learn
to live with them as an inevitable part of trading. Risk is
not to be avoided because without risk there is no potential for
profit. Risk is to be managed. And that's what the
systems represent -- managed, quantifiable risk.
Well, that's my philosophical moment for today..............
Thanks and I'm still feeling out the Strategy desk with
Ameritrade, it did give me an alert today so I know it worked and
would have gotten me in but I don't know yet if it would have
gotten me out.
I love the stock picks in here and will continue to work on the
auto systems.
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system whipsaw
SRS 2 URE
Posted by Michael on 28th of Jul 2009 at 01:56 pm
ditch -- that's one reason -- of many -- to automate the systems -- you don't have to watch what they're doing and be emotionally involved in it. It just uses up a lot of personal energy for no good reason.
There's a quote from Ed Seykota -- "if you want to avoidf whipsaws, stop trading."
Meaning that if you are trading, there will always be whipsaws. The challenge as I understand it for myself is not to avoid or eliminate whipsaws, which is impossible, but to learn to live with them as an inevitable part of trading. Risk is not to be avoided because without risk there is no potential for profit. Risk is to be managed. And that's what the systems represent -- managed, quantifiable risk.
Well, that's my philosophical moment for today..............
Thanks and I'm still feeling
Posted by ditch on 28th of Jul 2009 at 02:05 pm
Thanks and I'm still feeling out the Strategy desk with Ameritrade, it did give me an alert today so I know it worked and would have gotten me in but I don't know yet if it would have gotten me out.
I love the stock picks in here and will continue to work on the auto systems.