DislikedIs a mechanical system not just a system where the discretion is done before the market opens?
In order to create a mechanical system discretion is required for all the necessary parameters. When to enter, exit, time to trade etc. It is just done beforehand.
If I then make the exact same decisions as this system but add further discretion during market hours I become a cowboy trader?
[color=black][font=Verdana]For example,...Ignored
Whether you are mechanical or discretionary doesn't really matter, because a good discretionary trader, trades mechanically. And a good mechanical trader, trades discretionary, if even indirectly. As for entries, a discretionary or mechanical trigger will work. Its what happens after the trade is made that really matters, and that is where the 'meat' of discretionary trading holds its value.