Market Beaters

Fascinating, in-depth interviews with legendary developers and traders of mechanical trading systems. Those interested in developing their own system will find a goldmine in this book...learn from those who have gone before, taking advantage of their knowledge, experience, and tips. Table of Contents ROBERT PARDO 1 CHARLIE WRIGHT 21 One of the interesting things that we found in our research was ultimately, indicators don't matter. LARRY WILLIAMS 41 The creation of wealth comes from money management, not from systems. LOUIS LUKAC 61 KEITH FITSCHEN 83 I can show you that you need thousands of trades in your development sample before you can have any statistical confidence that it's going to trade that way in the future. WAYNE GRIFFITH 101 Anyone who has developed a system has to admit there are situations that the system does not cover. TOM DEMARK 117 The bottom line was, after 17 programmers and four or five years of testing, the basic four or five systems worked the best. MIKE DEVER 133 BO THUNMAN 151 I had hundreds of calls from people who opened up by saying, Listen, just give me the name of a system that works consistently'. BILL DUNN 165 I just looked at charts and without applying anything sophisticated at all, I said, 'This couldn't be random'! TOM WILLIS 185 Once you have a system, the biggest obstacle is trusting it. JOHN HILL 201 What I have found is, it's good to make it exceedingly difficult to enter the market but very easy to get out. MURRAY RUGGIERO 217 If you don't like the neighboring numbers, you've got a problem, because odds are, you will wind up with the results of the neighboring set of parameters. DR. GARY HIRST 243 There is no one thing that will let you say, 'This works in all markets and it always will'. When Theory Becomes Practice The Ten Commandments of Mechanical System Trading Basic Terminology of Mechanical System Trading