Saar KaL 10:40 GMT August 12, 2010
will buy below
It is better to develop some sensitivity to the market rather than running automated programs.
The difference between a human and an Algo. machine is that we decide NOW based on the PAST and estimated FUTURE events, but whatever Algo. or machine you may use, is deciding based on the PAST only.
So when and if Gold will break above 1216.50(Kitco HI) you may get 1224, maybe tonight.
I hope I can buy with you from 1120 down to 1008 after I dispose my stuff.
I still think Gold is simply get M
Saar KaL 13:51:10 GMT - 08/12/2010
I don't know...Did the weekly data
Seems like a sell all year
I think that 1230
is a bad point to go further north
Rexburg Stubbs 13:56:39 GMT - 08/12/2010
I'm to say that you are very wrong.
One style or system is not by default better than the rest.
You can train algos to make decisions using all information that discretion mind can think looking back to "see" into the future.
Your mind does not know the future so it interprets what is already known in the past (to the millisecond) to guesstimate idea for future. Just like you called for higher cable on the head FAKe but really some algos correctly sold into that. Of course you did say that if it was not going to go up then it could go down, like all analyst would say in order to never be wrong.
The key is to find what works best for the trader then to have discipline to use it with proper risk mgt stuff.
HK [email protected] 13:46 GMT August 12, 2010
What I said about cable is that it should hold for a time above a certain level so that it will not go down. Sothis didnt happen.
S/l should be in place anyway.
No machine thinks like a human being, though it may explore many more possibilities than us, like a Chess Algo. which can defeat champions(sometimes because of mistakes).
Machines are only for aid, and from time to time people buy them and after few trades they loose their money.
Sometimes you may get a piece of info which you may seem more or less important but the Algo. will fail to estimate it or read it.
Whatever you place in a program is the past, and machines do not think, much less they don't think about their thinking.
Our brains are still unknown to us, but luckily even an idiot can program these fascinating biological machines, which no Algo. works similarly.
Rexburg Stubbs 14:51:42 GMT - 08/12/2010
I'm to say that again, you are very very wrong indeed.
While you think and think the algo can act.
But you miss the point.
One is not by default better than the other for trading.
Two traders can think all they want and still conclude to take opposite actions for the same information. Meanwhile, two algos can make split second outcomes in opposite of each other just the same. There is one difference however. Algos don't have feelings so they don't have to justify their losses or wrong "thinking"
I happen to know some great traders that think then use discretion to trade. I also know some black box algos that would cause one's mind to stir when they see how profitable they are.
On the other hand, there are even more traders who "think" then act wrong or use wrong algos to trade with. These en mass are those collective group of 95%.
In the end it boils down to discipline, risk mgt, and least of all, entry/exit signals
One of the great Algos is that of Wfak, which I don't understand why he likes to share with others even for a fee.
If I had one of that kind I will not.
Other great Algos are those automated ones which may destroy a bank by triggering or being triggered by a S/L sending the Dow 1000 points down in a matter of seconds, thus leading for a wide investigation by the Bourse.
Rexburg Stubbs 15:17:59 GMT - 08/12/2010
I'm to say that now you are talking on point. Human intuition vs algos...there is not one that is better than the other by default i.e flash crash or Barings bank, SoGen rouge traders etc.
Use what works for the trader with proper discipline and risk mgt.
That is all.
HK [email protected] 15:04 GMT August 12, 2010
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