More In Store From Rob Booker
October 13, 2006 by Trader Rich
It looks like there is more in store from Rob Booker in the coming weeks for me and his other students. Here is a partial email that I received today:
For the last two days, I have been busy working on some great new
stuff. We are working 10+ hours a day at the new office, and here is
what is coming next week:
1. A filter for the Scholastic
Divergence system that makes it far more profitable, and so that it
takes far fewer trades. You know that when the market trends, the
divergence trades get whacked. No more.
2. A filter for the New York session.
3.
A brand new trend-following system. I can't reveal anything about it
yet, but we have been testing hundreds of trades and we think we are
almost ready to write out the rules.
4. Dave Murphy has been
working on new features for your student home page. The changes will
make it easier to find the lessons and systems faster.
Popularity: 1%
Loading ...
Anyone offering a new system should be able–at minimum–to say that they’ve manually backtested it for at least a year’s worth of data, resulting in “x” number of winning trades and “y” losing trades, for a profit of “z.”
However, 99.9% of the time, experts selling systems, and those posting their systems on message boards, say, basically, “Here’s a system I’ve been fooling around with. I looked back at a few trades I could have made with it, and it looks really good.” Then, they and others who follow their advice start trading the system with live accounts.
As you can probably tell from my tone, I think this is a bad idea.