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Fred Schutzman is the vice president of Growth Management Capital Corp. (GMCC), a New York-based futures/money management firm. He also serves as chief technical market analyst for Copia Trading Company, Ltd., a firm providing floor brokerage services on the Coffee, Sugar and Cocoa Exchange. After earning his B.B.A. (summa cum laude, valedictorian) from the College of Insurance in New York City in 1986, Fred began his trading career working under John Murphy, CMT. Fred spent the next four years working as a technical market analyst and designing trading systems. During this period, he assisted Dr. Alexander Elder in producing daily and weekly newsletters (covering both futures and stocks) and helped him design a new advisory service. In June 1991, Fred formed his own CTA firm to provide technical market analysis to two New York floor traders. Success in that venture led Fred and those two traders to form BFF Trading Group, Inc., an upstairs trading/money management operation. Fred served as president and chief executive officer of BFF from January 1992 until September 1994. From October 1995 to January 1997, Fred served as the chief technical market analyst and trading systems developer for Emcor Eurocurrency Management Corp., a currency money management firm. During this period, he designed and implemented eight profitable computerized treading systems and successfully programmed objective methods to identify chart highs and lows, trending versus trading range environments, and an improved method to measure volatility and divergence. Fred is a Chartered Market Technician (CMT). He is a member of the Market Technicians Association (MTA) and is currently serving on their board of directors. Fred is a faculty member of the NYIF, regularly lectures on technical analysis at financial conferences around the world, and is a periodic guest on the CNBC television station's “Tech Talk” show. He has been published in Futures and Stocks and Commodities magazines and profiled in Financial Trader magazine.

Here's one of Fred Schutzman's recent presentations.

Developing Profitable Trading Systems from Discretionary to Mechanical


Expert: Fred Schutzman
Type: PDF Workbook MP3 Audio
Running Time: 90 minutes
Workbook Length: 19 pages
Availability: Now
Average Rating:


When trading on a discretionary basis, most traders look at many different tools and indicators and combine these into a logical decision making process. However, in developing mechanical trading systems, these same traders will optimize some combination of technical indicators based upon past performance and call that a trading system. This results in a mechanical system that does not represent the trader's subjective approach to markets. The trader's goal should be to build a system that reflects his or her discretionary trading.

In this seminar, Fred shows you how to transform your discretionary approach into a mechanical trading system. Fred uses TradeStationTM to demonstrate the steps required to turn your ideas into computer code. He shows you how to develop a breakout system, a congestion system, and a combination system (one that has characteristics of both trend following and counter-trend).

He provides you with examples of EasyLanguageTM code, which can easily be modified for use with other software packages. This talk is especially designed for those traders who can often accurately predict market direction, but still find that they are losing money. In situations like this, it is usually the trader's emotions that get in the way and prevent him from making money.

Mechanical trading systems allow you to keep the positive features of your approach (for example, your ability to predict direction) while minimizing the emotional content by exercising machine-like discipline. Fred incorporates money management principles into his discussion and demonstrates the importance of diversification. He shows you how to test a system to see if it warrants being traded with actual money in real-time. He explains how to analyze TradeStationTM's performance reports and explains which statistics he feels are most valuable. You will also learn how to customize a trading system to fit your own unique personality.


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