sistemas e gestão discricionária

[bluexip]

==== What percentage of your trading is automatically determined by specific patterns or systems you use?

Roughly 50 percent. It's hard to gauge because our systems may tell us to buy one thousand contracts on a given day but it's my discretion as to when to buy them.

==== So your skills in entering and exiting positions are an important element in your trading performance?

Absolutely.

==== If you just followed the systems blindly by placing orders using some automatic entry rule-for example, buying on the opening, or on the close, or at some fixed intervals through the day-instead of timing the entry of the trade, what would you guess would be the degradation of results per month?

It's very hard to say, but if we blindly followed the systems we might make half of what we do now. Maybe even less. I could give ten CTAs the exact systems we use, and some of them still wouldn't make any money.

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Monroe Trout in "THE NEW MARKET WIZARDS - JACK D. SCHWAGER"