|
|
|
|
||
|
||
Many people believe they are trading just such a system when they pour over their paper charts or computer screens every evening, looking for crossovers, breakouts or whatever indicator they may favor. However, it is more than likely that the “objectively” part of the above definition is being replaced by “subjectively.”
They subjectively decide a market is too high or too low to take a particular trade. Or they decide that even though their entry criteria are met, the chart “just doesn’t look right.” Or the worst one of all…they decide a trade they are in has a large enough profit and exit early to capture that profit while the market goes further for months and months.
Discipline is one of the most important skills to be learned when using a technical trading system. Unfortunately, it is never learned by most. A trader may come up with a great system with the ability to generate continuous profits, but then will not have the discipline to follow it. Why?
Fear, greed and especially ego are the biggest threats to discipline. In our 30+ years of experience on the trading floor, we’ve learned the only thing most traders like to feed more than their wallet is their ego. Traders may spend months or years developing a technical trading system, but the day after they put it into action they begin second guessing it so they can say they are smarter than the system when they are right.
The only way to eliminate fear, greed and ego and maximize the benefit of using a “Technical Trading System” is to take it one step further and make it a “Mechanical Trading System.” If you trust a system, remove yourself from the equation entirely. Usually the best way to do this is to have a qualified, experienced futures broker execute the signals on your behalf in your account.
Worldwide Futures Systems prides itself on our ability to execute trading systems using our state-of-the-art auto-execution platforms for electronic markets and by using our trading floor experience and knowledge in a machine-like manner for pit-traded markets.
Whether trading one of the many qualified systems we offer or your own, call WFS today at 888-989-WWFS or request more information on how fully automating your technical trading systems can possibly improve your futures portfolio.
