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[USER=70570]@Nina4[/USER] the current market downturn is the time for reflection, looking for ways to better prepare for the next major correction. Knowing we all have to do better next time round is the key to improvement. As a systematic trader, I rely entirely on technical analysis, I know nothing about companies, I'm not trading for dividends or franking credits - they are just the icing on the cake.

Self Belief in our Trading Strategy
Mechanical system traders have exactly the same ambition as discretionary traders, the ambition to buy positions that keep going up forever. The difference between systematic traders & discretionary traders is that we have (or should have) a trading plan that allows us to never miss a night’s sleep. A quality trading strategy should also incorporate a strong, reliable exit & as [USER=78997]@Saqeeb[/USER] has said "I do not have to make any emotional decisions and sell when it asks me to". Systematic trading eliminates the "discretionary decisions" process - sometimes making a judgements call is prone to have a high degree of failure because of the (50/50 - "80 rule") for those who understand.

Systematic Traders should be decisive
Systematic Traders should be unemotional & decisive in their actions. Mechanical system traders know from the moment they buy a position they have a system with a high probability of going up. It's not about predicting the future, no-one can do that but they can accept things do change & at times trading can go horribly wrong getting them into a pickle. The difference is that when they do they act, they don’t standby to see what will happen next, they follow their strategy, they see the market as a battlefield, a one on one fight. They know they are in a war with an emotional herd, unpredictable at times. Capital preservation, utilising a correctly timed "exit" wins the war.

As Nina has pointed out
Good traders constantly analyse, adapt, educate & improve - that's one of our strengths.

Skate.

<blockquote data-quote="Skate" data-source="post: 1061644" data-attributes="member: 57364">[USER=70570]@Nina4[/USER] the current market downturn is the time for reflection, looking for ways to better prepare for the next major correction. Knowing we all have to do better next time round is the key to improvement. As a systematic trader, I rely entirely on technical analysis, I know nothing about companies, I&#039;m not trading for dividends or franking credits - they are just the icing on the cake. Self Belief in our Trading Strategy Mechanical system traders have exactly the same ambition as discretionary traders, the ambition to buy positions that keep going up forever. The difference between systematic traders &amp; discretionary traders is that we have (or should have) a trading plan that allows us to never miss a night’s sleep. A quality trading strategy should also incorporate a strong, reliable exit &amp; as [USER=78997]@Saqeeb[/USER] has said &quot;I do not have to make any emotional decisions and sell when it asks me to&quot;. Systematic trading eliminates the &quot;discretionary decisions&quot; process - sometimes making a judgements call is prone to have a high degree of failure because of the (50/50 - &quot;80 rule&quot;) for those who understand.Systematic Traders should be decisiveSystematic Traders should be unemotional &amp; decisive in their actions. Mechanical system traders know from the moment they buy a position they have a system with a high probability of going up. It&#039;s not about predicting the future, no-one can do that but they can accept things do change &amp; at times trading can go horribly wrong getting them into a pickle. The difference is that when they do they act, they don’t standby to see what will happen next, they follow their strategy, they see the market as a battlefield, a one on one fight. They know they are in a war with an emotional herd, unpredictable at times. Capital preservation, utilising a correctly timed &quot;exit&quot; wins the war.As Nina has pointed out Good traders constantly analyse, adapt, educate &amp; improve - that&#039;s one of our strengths.Skate.</blockquote>

[QUOTE="Skate, post: 1061644, member: 57364"] [USER=70570]@Nina4[/USER] the current market downturn is the time for reflection, looking for ways to better prepare for the next major correction. Knowing we all have to do better next time round is the key to improvement. As a systematic trader, I rely entirely on technical analysis, I know nothing about companies, I'm not trading for dividends or franking credits - they are just the icing on the cake. [B]Self Belief in our Trading Strategy [/B] Mechanical system traders have exactly the same ambition as discretionary traders, the ambition to buy positions that keep going up forever. The difference between systematic traders & discretionary traders is that we have (or should have) a trading plan that allows us to never miss a night’s sleep. A quality trading strategy should also incorporate a strong, reliable exit & as [USER=78997]@Saqeeb[/USER] has said "I do not have to make any emotional decisions and sell when it asks me to". Systematic trading eliminates the "discretionary decisions" process - sometimes making a judgements call is prone to have a high degree of failure because of the (50/50 - "80 rule") for those who understand. [B]Systematic Traders should be decisive[/B] Systematic Traders should be unemotional & decisive in their actions. Mechanical system traders know from the moment they buy a position they have a system with a high probability of going up. It's not about predicting the future, no-one can do that but they can accept things do change & at times trading can go horribly wrong getting them into a pickle. The difference is that when they do they act, they don’t standby to see what will happen next, they follow their strategy, they see the market as a battlefield, a one on one fight. They know they are in a war with an emotional herd, unpredictable at times. Capital preservation, utilising a correctly timed "exit" wins the war. [B]As Nina has pointed out [/B] Good traders constantly analyse, adapt, educate & improve - that's one of our strengths. Skate. [/QUOTE]

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