Okay.. I have my System Complete

since he is the one pulling the trigger he is the most important part. Without him nothing happens. A system that works 100% of time would never work unless executed.
but i know what your attempting to say.

pierson
 
Quote from Flashboy:

but I am having trouble executing every set up.. I keep second guessing the system..

Is it just a matter of becoming more confident in the system and training yourself to take the signals ..

I would be having a terrific week had I followed every signal..
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Yes, confidence is everything. I recommend that you trade small enough so that you can focus on system performance without too much fear of gain or loss on your positions. Run in this mode until you gain more confidence, then slowly size up. If the system performs, you'll have plenty of time to profit when you move to full size. If not, you will have saved yourself the losses.
 
Quote from Grob109:

Sufficiency and facility come into play at this point in you process.

Both take time to get acquainted with.

The second guessing is a comment on your part about what you require as "sufficient" to act.

Form reading many many of your posts, I can assume you believe the precepts underlying your approach. That is settled for you. It will become even more effective for you in a month or so.

Early families hunted and gathered. Tht remains with us. As a hunter, you can, at this point hunt and succeed. this will give you breathing space in dealing with "sufficiency" and locking in your beliefs.

By taking trades and completing the few that you do with spaces in between, you get to debrief on your successes.

Facility can best come from the "filling in" process. The settling of emotions after any "hunt" changes over time. Familiarity leads to facility. Getting to be in the groove is not an easy process simply because the market continues streadily as you exist in the heritge of hunting which is a spurt type thing. Hunting is a survivor tactic based upon sudden opportunity. Space your hunting until you can do more hunts per day.

There are no surprises in the market at some point. This is because a person has gained "facility". At this point your heritage of being a gatherer like gleaning seeds or picking berries can come into play. Strange though it be, gathering cannot just be done by arriving at a wild rice site or a glen of berries on the banks and then "gathering". To do it well you have to have a continuous repetitive process of collecting grain or rice. Otherwise you step on stuff, get scratched, spill stuff or dump the canoe at the wrong time...

Know what is sufficient to act. Do it and debrief afterwards. Notice when you are prepared to hunt again. Shorten times for cycles of action.

With beliefs no longer provisional in any way, focus on debriefing on the facility you are gaining. Note how your experience leavens participating in RTH.

The other facet, of course, is your advancing level of capital. Wait to apply this surplus until you have a stable W/L ratio and R/R ratio. this signifies facility. After that, scale in at low risk, and exit en masse. by this time, a ten fold increase in participation can be done as a single transitional scenario.
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Fantastic post. System Development Parts II and III.
 
came back after lunch.. and took 2 trades that fit my criteria.. and that was after losing on the 1st..

and I closed that position out quickly and waited for the next signal.. in the past I would have held on to it waiting for it to come back or get stopped out..

my discipline is improving.. I just have to keep working on it.


thanks for all the comments
 
with simulated trading. Have enough money and once you see the test results are good you will have more intestinal fortitude - if not set it up with the broker.

(I assume you are at least a swing trader or longer. Testing the system that is a daytrading kind is harder. )
 
Quote from Flashboy:

came back after lunch.. and took 2 trades that fit my criteria.. and that was after losing on the 1st..

and I closed that position out quickly and waited for the next signal.. in the past I would have held on to it waiting for it to come back or get stopped out..

my discipline is improving.. I just have to keep working on it.


thanks for all the comments
More...


How many signals do you get on average per day?
 
I believe that system development has a place in trading, but that that place is limited to punctuating the day with signals which reinforce and support simple trend trading principles. The problem with system trading, as the estimable Linda Bradford Raschke pointed out in her recent Active Trader interviews, is that the stops are outrageously wide relative to the gains. I have done a lot of system development and system trading, have suffered the doubts which I believe you are experiencing, and have concluded that pure system trading is not the best path. Trend trading has the benefit that it is slow on whatever time frame suits you psychologically, helps you to avoid the temptation to respond to "noise" (which hooks into your character issues), and gives you the leisure and tranquility to thoughtfully examine and respond to what is happening in the market, as opposed to what is happening in your head.
 
You have to break one of the fundamental laws of human nature. You have to learn to love uncertainty, for it is this uncertainty that gives winners opportunity and losers fear.

Once you discipline yourself to race after uncertaintly where ever you find it, you will be a trader.


As Horatio Nelson was quoted

"Never fear the event"

Good luck, and have a nice weekend.

Think about these words when you are most relaxed. If you can, just before you go from awake to sleep.
 
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