Systematic Trading Quotes

“A small profit would also prove irresistible, with its own litany of excuses why you should deviate from the rule, just this once. I call this process of interference by our internal monologue meddling. Meddling is due to the biggest cognitive bias of all: overconfidence. We think we are cleverer than the trading system and we are. We think we know more than the trading system and we do; the system focuses on a narrow set of quantifiable inputs, whilst we can analyse many kinds of complex information. We think being clever and knowing more implies we will make better decisions – but we usually don’t, thanks to cognitive biases.”
― Carver Robert, Systematic Trading: A unique new method for designing trading and investing systems

“Humans are better than computers at complex intellectual tasks. But as these two stories show, our emotions prevent us from fully utilising this intelligence. The solution is to use systems to make trading decisions.”
― Carver Robert, Systematic Trading: A unique new method for designing trading and investing systems