Equity curve analysis: A fool’s path? 淨值曲線交易:是愚笨的嗎?

先講結論,避免有一些人說我在造謠,我的目的是要透過文章佐證並且釐清一些事實
結論:本文作者認為,簡單的使用技術指標來去針對淨值曲線進行交易系統管控是不好也具有反效果的,但是或許有其他的不同方式或是思考點可以達成做這個動作的目標->停止表現差勁的策略避免交易

Equity curve trading is simply a methodology where a trading strategy is turned on and off based on the gyrations of the equity curve. While there are many different approaches to employing equity curve trading, the concept is straightforward: trade strategies when they are making money, and temporarily turn them off when they are not. If only it were so simple.

淨值曲線交易是一種簡單的跟隨著淨值曲線變化來控制交易策略(系統)開啟或關閉的方法,雖然有許多不同的方法可以使用淨值曲線交易,但是主要的概念還是來自於當交易策略(系統)賺錢時進行交易,當交易策略(系統)虧損時停止交易.

With many of the basics of equity curve trading covered in the first installment, this article will look at two different methods of equity curve trading applied to three different real life trading strategies. Reviewing the results may allow some generalizations and conclusions about equity curve trading to be made.
Strategies scrutinized

Myths and facts of equity curve trading 淨值曲線交易的神話與真實狀況

  
先講結論,避免有一些人說我在造謠,我的目的是要透過文章佐證並且釐清一些事實

結論:本文作者認為,簡單的使用技術指標來去針對淨值曲線進行交易系統管控是不好也具有反效果的,但是或許有其他的不同方式或是思考點可以達成做這個動作的目標->停止表現差勁的策略避免交易

Most traders have heard the concept of turning a trading strategy on and off — or increasing/decreasing size — when the equity curve rises above or falls below a specified moving average, breaks to a certain new low (or high), or has a specified number of consecutive losing days. The fact is every trader does some sort of equity curve trading, whether they realize it or not. Once a trader makes a decision based on the equity curve, he is in effect equity curve trading.

大部分的交易者經常聽到有關於交易策略的開啟/關閉或者是增加或減少交易部位的一些概念~例如當淨值曲線高於或低於一個特定的移動平均值的時候,淨值曲線創下新高或新低的時候,又或者是採用特定連續虧損天數之類的一些概念來進行控制,事實上,每一位交易者如果都針對淨值曲線的順序來進行決策,他們其實就是在針對淨值曲線進行交易!