jack schwager - guide to winning with automated trading systems (course manual)

Jack Schwager’s Guide to
Winning with Automated
Trading Systems
Course Manual
Course Manual
Jack Schwager
2
An Overview of
An Overview of
Trading Systems
Trading Systems
-
-
And Why You Should
And Why You Should
Use Them
Use Them
The Most Important Lesson
The Most Important Lesson
of the Market Wizards
of the Market Wizards
4
Benefits of a Mechanical
Trading System
Six basic advantages of trading systems:
● Eliminates emotion
● Eliminates need for constant decision making
● Ensures consistency of approach
● Risk control
● Same approach can be applied to many markets
● Approach can be tested for statistical reliability

5
Defining and
Defining and
Illustrating the
Illustrating the
Leading Types of
Leading Types of
Trading Systems
Trading Systems
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7
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