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Yuki,
I know we shall never agree on the H&S criteria, if we speak for more
than 2 persons [I disagree even with my code, sometimes].
What I said was to write down *your* point of view [trying to include
all requirements, objective or not] and then try to code it.
I had two purposes in this thought :
The first, to give an "real" opinion, probably useful for the readers.
The second : I am sure, if we ever do this job, that we shall find
two identical [as for the conditions] H&S [or any other pattern] and
you will recall that you traded A and ignored B. This is the main
subject. The same 100 well written and tested criteria are not enough
to pull the trigger, if trading is important for you [I don´t say
trading for living...]. These "personal" parameters are not coded
easily. But, at this crucial point, do not be surprised if the
majority followed the same way, the N100 composite tickers give
enough evidence. On the other side, you know very well that the same,
sucessful composites failed to describe this [for ...adults only]
^N225 market.
Thank you for the interesting discussion.
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> Hi wavemechanic,
>
> Monday, November 17, 2003, 9:42:22 PM, you wrote:
>
> w> Exactly, Yuki. And in this case, proper consideration of volume
> w> is essential. A number of commercial and "home grown" programs
> w> have tried to duplicate "eyeballing" patterns. Works sometimes
> w> but "eyeballing" indicates that it misses or misidentifies at
> w> other times. As a descretionary trader, such a program would
be
> w> the Holy Grail, and maybe someday it will be available. I
suspect
> w> by then, however, that I'll be rocking the days away and watching
> w> sunsets.
>
> I think DT knows how much I respect his coding ability -- and that
is
> not even comparing it with my own (almost non-existent) coding
> ability. ^^_^^ He is great, and there is no doubt about it.
>
> But like you say, I have grave doubts about the ability of anyone to
> code these formations in a way that is going to be very useful to
me.
> Here we are talking about a H&S. This is usually somewhere near the
> beginning of any book on TA formations. It's pretty basic. But even
> this supposedly basic formation has so many possible variables that
> it's doubtful to me that we all could agree on what exactly is a
H&S,
> and what isn't. Maybe I'm wrong, and we actually could agree. But
> somebody is sure to complain about the relationship of the high of
> the shoulders to the high of the head, or the slant, or the pullback
> level, or the volume, or the number of bars, or something. TA by
> committee is probably trades never taken. ^_^
>
> I genuinely respect the attempt to code these things, but even the
> reason for attempting to code them runs kind of counter to my method
> of trading anyway. As many who have known me for years already know,
> I trade the same stuff over and over and over. I have a basic
basket
> of stocks which right now numbers a whopping 19, and I know those
> issues inside and out in terms of the way they trade. I just never
> stray (I do some pair trading, too, but the pairs are in the 19),
and
> I'm convinced by my own experience that I don't need to trade
outside
> this small universe -- ever. (Once in a great while I can't resist
a
> fling outside that universe, but I almost always get my fingers
> burned.) Over the years, my basket of stocks has never grown. It's
> always become smaller and smaller. This type of coding is used I
> guess to search a large database of stocks, one that is too large to
> search manually. But I just don't trade outside of my little pond,
> and I can examine all the fish in there every day. I do use
> explorations to make life easier, but I also eyeball each chart
every
> night, and in a leisurely way, not in a rush of scrolling. I can
> take the time to look at lots of different sheets for the same
issue,
> and I have the time to put some serious "A" into my "TA". I'm sure
> this pays off for me, but I'm also sure others prosper just as well
> with less of a concentrated focus. As you said, if anyone ever gets
> this "eyeball" stuff down just right, it would be like the holy
> grail. But I won't live to see it, I'm sure.
>
> Best,
>
> Yuki
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