I think indepenent, discretionary traders who just follow their own system are barking up the wrong tree. Say you know someone that runs a hedge fund or you know a trader with a great track record. You're bound to find someone much better than you. Isn't it better to just replicate whatever they're doing instead of trying to come up with trading ideas yourself? Assume you want to be 100% mechanical, that is, there is no discretion involved at all. You learn a method, you set up parameters to generate a signal and you have precise targets, all established already through backtesting by the system creator. You already know the probabilities of your trading setups' possible outcomes. Other than just being comfortable with the actual risk, the idea that you should find a system that suits your personality seems sort of meaningless to me if you're just going to be totally mechanical. Isn't this a much better way to become a successful trader? Why not just copy?
2006-07-24
03:07:03
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5 answers
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asked by
billysimas
3
in
Investing