Quote:
Originally Posted by europeanson7
What's the point of doing all that stuff if a system like Ozfx's works? I guess what I'm asking is do systems like his (or the Cowabunga system for another example) work? Because if they do I don't see the point in doing all that work.
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Meaning, "are they profitable?" Two very different systems which are both, generally, profitable. What does that mean, though? Profitable in backtest, or profitable as they're traded forward by specific traders? There's usually a significant difference.
Making a system "work" is, again, more to do with the trader than the system. Take a better look at OzFx, as an example. Not the outline of the method, but the "signals" Oz would provide and the way in which different people would interpret them. Even Oz would generate signals that didn't correspond to the original system and weren't taken off of AES - Oz simply conjured up trades that were loosely based on OzFx (who knows, maybe he thought they were legitimate) but did not correspond to system criteria. Others, who aren't "dumb", look at the same entry and money management criteria and have remarkably different trades.
The best thing to do is pick a system, backtest it, develop some data on results, and then begin trading it forward. And for added value to the experiment, do it dumb (well, uneducated) about the market but doggedly follow the system, just to see if that's all it takes. You'll soon see what everyone here is talking about....