T2W Bot
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Systematic or discretionary? It?s an important question on the way to trading success. Most traders eventually end up belonging to either one or the other philosophical camp. In this article, Harald Weygand introduces an approach that most likely will interest the discretionary traders among our readers.
Traders and chartists can be categorised in various ways. Among the possibilities are system traders and intuitive chart readers. System traders develop a comprehensive set of rules, weighing statistics, utilising vast arrays of indicators and weaving intermarket correlations. Finally they combine several systems after extensive back testing. The computer, not the person, screens the market applying the system. System traders with statistics on their side can set rules for drawdowns and quite effectively remove the problem of emotions from their trading. In other words, everything is contained within the system and decisions boil down to a simple yes or no.
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