Your writing is impressive! Very detailed and right to the point. I am quite keen on how you work on your "hunch" weakness.
Is hunch and intuition the same thing? Do you get out of a trade earlier or later based on experience? If everything is based on systems, then what is the value of a human trader?
FTS - Thanks. I guess I do consider hunch and intuition the same thing. I try never to use it, unless the system is designed that way. Otherwise I just follow the rules.
The value of a human trader in a 100% rules system is 1) to develop the system in the first place! and 2) to "work" an order if necessary. For example, if a system says enter Sugar next open, I don't want to put a market order in, since volume at the 3 AM open might be light, and I might get a bad fill. So, sometimes I'll use a limit or stop order to enter. Many times I can get a better price doing this. I think if it was all automated, my performance would decrease somewhat.
Kevin
ReplyDeleteEnjoyable and thanks
Kevin:
ReplyDeleteEnjoyable and thanks.
Your writing is impressive! Very detailed and right to the point. I am quite keen on how you work on your "hunch" weakness.
ReplyDeleteIs hunch and intuition the same thing? Do you get out of a trade earlier or later based on experience? If everything is based on systems, then what is the value of a human trader?
Thanks Scott - I appreciate it!
ReplyDeleteFTS - Thanks. I guess I do consider hunch and intuition the same thing. I try never to use it, unless the system is designed that way. Otherwise I just follow the rules.
The value of a human trader in a 100% rules system is 1) to develop the system in the first place! and 2) to "work" an order if necessary. For example, if a system says enter Sugar next open, I don't want to put a market order in, since volume at the 3 AM open might be light, and I might get a bad fill. So, sometimes I'll use a limit or stop order to enter. Many times I can get a better price doing this. I think if it was all automated, my performance would decrease somewhat.