Dr. Tharp teaches that objectives are 50% of designing a system that fits you. Lesson 3
Examples of possible objectives:
No system is a money-making machine that can be turned on and print cash forever. Systems must be evaluated and revised to adapt to changing market conditions. And while there are ways to measure the quality of the system, you will never trade a system properly if you don’t feel comfortable trading it, just as you might have trouble following the advice of newsletters because you don’t feel comfortable taking certain trades that they recommend.
Improving your trading performance will not come from some indicator that better predicts the market. It comes from learning the art of trading and understanding how to create a trading system that fits your wants, needs, desires, and lifestyle.
So ask yourself, how much time and money am I willing to lose trying to trade other people’s systems?
Many traders think about system performance backward. They develop a system to see what results they can get. But that’s not effective. Instead, start with the performance you expect and design a system to that specification.