Mac Murray

Mechanical Trading Systems by Richard Weissman

In BOOK Review, DEEP Investing on February 21, 2010 at 11:18 PM



“The greatest benefit of mechanical trading systems is their ability to reprogram traders away from destructive types of behavior in favor of successful trading habits.”

–Richard Weissman

Perhaps W. Edwards Deming said it best: “If you can’t describe what you are doing as a process, you don’t know what you’re doing.”

I can count on one hand the number of traders I’ve met on the Philippine Stock Exchange trading floor who can describe every facet of their trading as a process.  True, some veterans can kick butt trading ‘by their gut’ but they are few.  I suspect the majority let their emotional state or whims of the moment play a inappropriately large role in putting on trades.

If you’re serious about your trading, you’ll systematize what you’re doing.

%d bloggers like this: