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Well, I would argue that in vast majority of cases these many flavors and levels of discretion can be programmed in or lets say compiled into a set of rules. So trading then becomes largely mechanical. for example Richard Dennis famous turtle system had a 'smart rule' to skip the next trade if...

damn, I didn't think I would get a response like this here in ET. I am all ears if you like to elaborate further. 1. Emotion Control 2. Instinct 3. see into the horizon of immediate future. I find the above very difficult to do in real time trading. My two strong emotions of fear and...

Right, so that can be made into a rule, if you see kids playing ball be extra careful... what is the secert sauce in successful discretionary decision making? Malcolm Gladwell wrote a facinating book Blink about rapid congnition. But I don't know how to apply that to trading...

well, basically I am searching for the secert sauce in successful discretionary trading. So you are suggesting that experience is one important ingredient. What if an experienced trader sat down, and over a period of time codefied all of his experience, came up with a set of rules. So what a...

I am new to discretionary trading and need some help in understanding the role of "discretion" in discretionary trading. some other words that come to mind are judgment, intuition, subjective analysis. I like to take the other side of the argument, and say that the more I look into...

Just curious if you have looked at these websites. I have friends who have posted trading projects, programmers bid on it, he has used programmers from Russia, Egypt, Pakistan. I don't recall him mentioning any issues with payments etc. No one really pays full payment in advance...

black should have resigned 5 moves ago.

I think carlsen is being generous. giving them a chance, prolong the game...

here you go Ba6, start of chaos, trying to stir things up

Yes, too bad. the world didn't put much of a fight...

black, very inconsistent play. typical of the crowd mentality, can't agree on anything. I still am able to follow the game, but no video or audio commentary...

gary made a good comment that consensus play on part of world may introduce some inconsistencies in the game. also magnus playing white favours him.

So the world actually doesn't get to make their own move, but select one of the moves from the three gm. magnus looks really bored.

unfortunatly most don't recognise the importance of chess in trading. Susan Polgar, one of the grand masters in todays match is all about pattern recognition.

yes, good call. That naked point always gets me excited. a quick non-trading comment: if any of you are interested in chess. you too in about 45 mins, can play the #1 world player magnus carlsen online today. http://rwcc.g-star.com/

very true. so magnus, the 19 year old wonder kid will get 1 min and three GM 1 min + world 1.5 min. very cool, there is live video stream. 51 min to go, can't wait. http://rwcc.g-star.com/

exit 76.02. now flat.

out and reverse 75.67, .50 stp

Yes, always kidding. you guys are all good. after a big trend day yesterday and a big overnight move. today was perhaps not the best for me to start trading actively...god help me today.