Why are System Traders Vilified by Discretionary Traders?

[Q3D]

There is a much stronger ethical mandate for discretionary traders, especially veterans who share wisdom, to share their results on forums, since their efforts are both art and science.

It's unfortunate there is so little transparency from discretionary traders on these forums since unlike systems traders their results are subjective and cannot be easily duplicated.

 

[marketsurfer]

Who is the sponsor?

Wonder who?

 

[Redneck]

Why are System Traders Vilified by Discretionary Traders?

Will assume you mean automated.., for "system"..., and manual traders..., for "discretionary" (discretionary is but one category manual traders fall under..., and all trading better damn well be done systematically)

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Y'all are trying to take my money..., I.., and my colleagues - are trying to take yours

And all of us..., are trying to take each other's

Doubtful any of us will be taking warm showers together until the wee hours of the morning.

RN

 

[lawrence-lugar]

Why are System Traders Vilified by Discretionary Traders?"

...I guess it's just like politics or a sports match -- you pick a side, and support it wholeheartedly and despise the opposite side.

I'm a bottom line kind-of-guy...so of the two...who makes more of a % return: the system traders, or the discretionary traders? I personally think it's definitely the latter.
(i kind of see systems traders as rail road train drivers; and discretionary traders as Top Gun ace fighter pilots...it's more of a true craft/art/skill.)

 

[Mysteron]

Why are System Traders Vilified by Discretionary Traders?...

Mark Brown

What evidence do you have for making that statement?

 

[NoVoodooHere]

Why are System Traders Vilified by Discretionary Traders? Yet you do not ever see System Trades trolling discretionary traders.

I think as a Systems guy, I look upon discretionary traders as "special needs" traders. Often I ignore and or tolerate the few trolling discretionary traders who have completely destroyed this forum over the years.

This destruction can be attributed to especially one sponsor of ET which completely changed the make up of ET and ushered waves of get rich quick newbies who had real jobs and were happy. Now those same newbies are disgruntled pissed off losers running in mobs on these forums looking to extract revenge from legitimate real traders.

So if you fit this profile then this post is for your therapy post away responses if it will help you realize, trading takes hard word over long periods of time and please try to maintain some dignity while learning. Else who wants to mentor a smart-ass.

Mark Brown

HI Mark, "systems" don't work, by definition of what a market is, it is not possible to use past price data to foretell the future.

Have a nice day

 

[Handle123]

HI Mark, "systems" don't work, by definition of what a market is, it is not possible to use past price data to foretell the future.

Have a nice day

Nothing fortells the future 100% and why we back test, but back testing shows us what patterns did in hindsight and gives probabilities. Take "Gravity" throw apple up in the air and there is 99% change it will fall straight down, you might say it is 100% but if you try all 100 chances in Florida during a hurricane, shows your data too short cause all 100 chances produced 0% when apple never fell straight down and apple fell one mile from where it was thrown. So I disagree with your statement, data is often too short for most who believe it to hold information to form solid probabilities and to be able to adapt to whatever market conditions. I firmly believe if system cannot adapt to some area of time, you simple don't have the answers yet for that area.

You can't even foretell if your heart will be beating in an hour from now, so nothing on Earth can foretell what future will be other than people dying.

 

[kut2k2]

Nothing fortells the future 100% and why we back test, but back testing shows us what patterns did in hindsight and gives probabilities. Take "Gravity" throw apple up in the air and there is 99% change it will fall straight down, you might say it is 100% but if you try all 100 chances in Florida during a hurricane, shows your data too short cause all 100 chances produced 0% when apple never fell straight down and apple fell one mile from where it was thrown. So I disagree with your statement, data is often too short for most who believe it to hold information to form solid probabilities and to be able to adapt to whatever market conditions. I firmly believe if system cannot adapt to some area of time, you simple don't have the answers yet for that area.

You can't even foretell if your heart will be beating in an hour from now, so nothing on Earth can foretell what future will be other than people dying.

Do I have to be able to foretell with absolute certainty in order to win? No. If I have a coin which I know comes up heads 60% of the time and I am allowed to bet with that coin and I get to pick which side, there's no way I'm not profitable over a long series of bets. Simply bet heads every time.

Will I win the next bet? Unknowable. But knowing I will win three out of five on average means I will through smart betting be very profitable in the long run, certainty be damned.

 

[Q3D]

You cannot extrapolate from that 3:5 probability of success in the near-term that your systems are capable of guaranteeing you a sole source of sustainable income over a multi-decade period, therefore systems trading is not a career for retail traders.

 

[kut2k2]

You cannot extrapolate from that 3:5 probability of success in the near-term that your systems are capable of guaranteeing you a sole source of su. ainable income over a multi-decade period, therefore systems trading is not a career for retail traders.

You can say that about any career. You might suffer an accident or an illness that forces you off your chosen career path. Does this mean people should never make career paths? Ridiculous. Life is a series of probabilities, not a series of certainties.