exp: I think experience is a necessary component in trading and investing. Of course, experience alone means nothing...gg
One needs to quantify probabilities of each indicator, pattern etc. This is where experience comes into play or raw math or both. I tried for years to come up with mechanical systems that would consistently make money. I used a DOS based program back in the eighties, Technifilter Plus. It allowed me to write my own formulas, tailor existing formulas and construct elaborate buy and sell scenarios. Then I could back test them using multiple variables which would force the program to back test the scenarios in literally thousands of different combinations. My old DOS computers would run all day...gg
Maybe it was just my failing, but I came to the conclusion you could not take the human element out of the mix and I moved away from Black Boxes.
Since I am a visual person, I developed a system that reports primarily based on visuals. My methods requires you to fly the plane, there is no auto pilot.
Regards,
LG
PS: Back in those days I also use Dow Jones Market Analyzer Plus (developed by the same folks that developed Technifilter Plus (RTR Software). Dow Jones was one of my data and news suppliers.
