CHAPTER 9Entry or Market Timing
Avoiding mistakes makes people stupid and having to be right makes you obsolete.
Robert Kiyosaki, If You Want to Be Rich and Happy, Then Don’t Go to School1
The basic purpose of using entry signals, most people assume, is to improve your timing in the market and thus increase the reliability of your system. I would estimate that 95 percent or more of the people who attempt to design trading systems are simply trying to find a “great” entry signal. In fact, traders are always telling me about their short-term systems that have reliability rates of 60 percent or better. Yet in many cases they are wondering why they are not making money. Unless you started with this chapter, you should know that a system with a ...