On those day's Bob's "gut feeling" did not hit, have you thought of a stop and reverse stop?
Michael B.
Michael B.
Bob's Bias
- Thread starter bobcathy1
- Start date
Several posters seem to not understand what this journal is about. Let me clarify this.
1. This is ONE trading method that I use in one account.
It has rules that are not to be changed for the purpose of this journal. In my other trading account, I use a semi-automatic system that I designed and is far too complicated to share. The idea of this journal was to see how the simple system did against the complex one in the long run.
2. And it is NOT A GUT FEELING......
It is based on market indicators.
3. I plan on keeping this journal for a year at least. Foreward testing is the only way to prove it one way or the other.
You said this in your first post:
"My husband Bob is a Blackjack Card Counter.
Every single morning he watches Bloomberg and then gives me his daily bias.
And for some reason, over the last year, he is about 80% right.
"
Sorry, but there is a big hint of gut feeling in there. Do not be defensive about it - I don't think anyone is attacking you for it. But, it is what it is.
Quote from snooptrader:
You said this in your first post:
"My husband Bob is a Blackjack Card Counter.
Every single morning he watches Bloomberg and then gives me his daily bias.
And for some reason, over the last year, he is about 80% right.
"
Sorry, but there is a big hint of gut feeling in there. Do not be defensive about it - I don't think anyone is attacking you for it. But, it is what it is.
Card Counting has NOTHING to do with GUT feel.
It has all to do with mathmatics. I guess I assumed people knew that.
Silly me.
I didn't in any way mean to imply that card counting has to do with gut feel - I know it does not.
But Bob watching Bloomberg and then giving his bias does. Again, there is nothing wrong with it. I hope you make a lot of money from it. But, it is what it is!
What about "instinct"?
You know, like when he saw them big 300lb guys coming down the aisle at the Casino towards him, he had an "instinct" to grab his chips and run?
Good luck. I hope Bob nails 'em this week! 