System Rules

"Create your own system,
then nobody else knows what you're doing."

The scope for creating different system rules is enormous. There are plenty of rules around for different types of system, all with variations too. Systems frequently become well known and popular, particularly those that have been used successfully by famous traders.

It is not difficult to create systems that have a positive expectation, which is a necessary starting point for any profitable system.

Some traders like to feel they are using systems that have been used by other successful traders. Others are happier if they are using a system that is different and not 'known to the markets'. This way, they reason, nobody out there will be waiting to take advantage of them by anticipating their entries and exits.

This is not all based on paranoia, some eminent traders have pointed out that it's not smart to be entering or leaving the markets at the same point as everybody else.

You will never get traders to agree about whether or not it's best to have your own unique system. This seems to confirm that it doesn't make a great deal of difference which alternative you choose - whatever you're comfortable with is probably the best for you.

Traders wishing to create their own systems may be reassured to know that software of professional standard is now beginning to emerge that allows traders to create their own systems easily, accurately and quickly.

This type of software eliminates all the programming slog involved in setting up new systems, so if you are in favor of having your own unique rules, this software is for you.

 

Modus Trading
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Copyright David Bromley 2006
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