is it just something to catch your attention and your moeny??
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Top 100 best Trading Systems: post good Trading Systems here 54 replies
Automated or semi automated trading? 3 replies
Automated Trading Systems 18 replies
Systems, Systems and Systems... 1 reply
Automated Trading Systems 0 replies
Quoting autofxDislikedThe name you gave to this thread is one of The Big Questions.
It will be a while before mainstream suit-wearing financial pros admit to the
viability of automatic trading.
Probably never. No one likes to think they can be replaced by machines,
and they'll fight to the finish to keep their jobs.
Even guys like Alexander Elder, who, judging by his bold statements
should be a self-sustaining trader, still has his psychiatry day job
and sells a ton of junk on his web site http://www.elder.com/.
He charges $300 bucks per hour for personal trading consultations!
He says in Come Into My Trading room that automatic trading
is fundamentally flawed, without giving anything but a very silly reason
why he thinks so.
And has anyone seen what he says about forex trading in that book?
This guy is as big a fraud as anyone.Ignored
DislikedThe thing with automated systems is this. They tend to work good in one type of market, ranging or trending. When the market switches up on you, they tend to lose their 'lust' if you will. In other words, they can't be right all the time. When their wrong, it seems that most people have found this out, their really wrong. I think you would be better off learning everything about the markets and then trade for yourself. That, to me, is much better than spending a lot of cash on something that will only work some of the time. Good luck.Ignored
DislikedI agree with Mike W.
People spend too much time designing/studying/analyzing black box or semi-automated systems where they would be much better off learning to actually trade and read the charts.Ignored
DislikedThe name you gave to this thread is one of The Big Questions.
It will be a while before mainstream suit-wearing financial pros admit to the
viability of automatic trading.
Probably never. No one likes to think they can be replaced by machines,
and they'll fight to the finish to keep their jobs.
Even guys like Alexander Elder, who, judging by his bold statements
should be a self-sustaining trader, still has his psychiatry day job
and sells a ton of junk on his web site http://www.elder.com/.
He charges $300 bucks per hour for personal trading consultations!
He says in Come Into My Trading room that automatic trading
is fundamentally flawed, without giving anything but a very silly reason
why he thinks so.
And has anyone seen what he says about forex trading in that book?
This guy is as big a fraud as anyone.Ignored
DislikedI agree with Mike W.
People spend too much time designing/studying/analyzing black box or semi-automated systems where they would be much better off learning to actually trade and read the charts.Ignored
DislikedThe thing with automated systems is this. They tend to work good in one type of market, ranging or trending. When the market switches up on you, they tend to lose their 'lust' if you will. In other words, they can't be right all the time. When their wrong, it seems that most people have found this out, their really wrong. I think you would be better off learning everything about the markets and then trade for yourself. That, to me, is much better than spending a lot of cash on something that will only work some of the time. Good luck.Ignored
Disliked{quote} I read Elder's books and, like many authors these days (hint hint), he does not present a shred of evidence to support his point of view and trading ideas/systems.... bookstore.Ignored
DislikedI tried for several years to code a "trend following system" to no avail. While I am definitely NOT a programmer I did discover that in order to get the darn thing to work the way you want it to... you must program it to "think". While I am not an expert I finally discovered the fastest and most efficient computer program was the one between my ears. And all I had to do was delete the part about fear and greed in my own thinking. In the end this proved far easier and more effective than learning to teach a machine to think. The lesson: Learn to...Ignored