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6min chapter
185: How to avoid creating trading strategies that degrade quickly - Timothy Masters
Better System Trader
Profit Factor
Timothy Stanley: I love profit factor only when it's computed at very, very fine granularity. If you're going to compute it based on closed trades, then no, he would not recommend profit factor. Why find granularity? Well, we have a slide here that shows what I envisioned for marked to market profits of an open trade.Stanley: The pain within a trade is monumental and it's almost certainly mostly random. It accounts for the variation that's going on within your trade.
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