![]() I first started trading futures with Barry Burns method, and after about 1.5 years of Sim trading was unable to turn a profit. I'm guessing the treasure trove of info may not have been apparent to him the first time he looked at a chart This is as true of BB as Al Brooks' system, IIRC Brooks himself making a claim something to the effect that the amount of information in a 5 minute chart is far vaster than he can use. While in the early days I dismissed MACD and stochastics as beginner tools, too simple for Serious Traders, these days I'm almost in awe of them. In addition, when reviewing the material I pick up nuances that I missed the first time through that contribute to the system's edge, and seem to come away with a deeper appreciation of what I thought I already knew. While trading a system causes changes in the brain that reinforce original learning and improve execution I also forget things and pick up or resume bad habits that degrade performance, and a periodic review of all the systems I have some knowledge of helps determine whether I'm backsliding, often explains why profits are beginning to degrade. In general it's not the difference in detail that matters as much as whether the approach strikes the proper chord in the brain of the trader, promotes objectivity within a trader's field of perception.ĮTA: I want to add as an addendum that for me the process of learning a system, perhaps becoming a "disciple", has been iterative rather than a one-step process. For example, it seems to me qualitatively that Al Brooks microtrend breakouts, H/L 1&2 refer to approximately the same phenomena as BB's mini divergences in stochastics. In other words, the debate over which system is superior reminds me of the debate between the blind men over the characteristics of the same elephant, in that all systems attempt to make sense of the same thing yet from somewhat different perspectives. It therefore also seems obvious a system that demonstrates positive expectancy for one trader must have elements in common with another system that performs as well for another trader. To summarize, what seems obvious to me is the market is the only given. There are caveats, exceptions to the rules and some degree of hand-waving in all of the systems I've tested-none of them do the trading for us-but IMO this is simply indicative of what the trader needs to bring to the table namely, an ability gained from experience to resolve apparent ambiguity inherent in the chosen method. to evaluate price action tick by tick for any length of time-makes me want to tear my hair out-but don't deny that others are, and thereby make an excellent living trading relatively large dollar amounts per tick for a few points at a time. Unfortunately I'm not capable of the kind of focus required e.g. particularly when trying to estimate market sentiment or pick a precise entry) because IMO the latter made a science out of these aspects of trading. This doesn't mean I ignore components of Fat Tails, Al Brooks, Perry and other systems (e.g. I studied a number of systems including most described on this site more or less systematically before stumbling across BB, and stuck with BB simply because it seemed to fit me and my target market (shortish time frame spot currency) best, the possibility aside that while its cost was immaterial to me it may be a factor for some. IMO there are 2 seemingly contradictory sides to the issue-on the one hand it's not possible to determine whether a system is right for you based solely on other peoples' experience or advice whereas I also believe one system is as good as another if you're willing & able to become a disciple. The value of evaluating a number of systems for one's self lies in different perspectives provided by different approaches to a common goal. IMO pretty much all a beginner can take away from a discussion of this sort is that different folks use different systems, and that at some point it's up to the beginner to bite the bullet and start using one and preferably several of them in order to truly grasp whereof the others speak. ![]()
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