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Hello Sursod,
Thankyou.
I don't have the time to become involved in a lot of that type of
discussion, and also the forum isn't the best possible place for it.
On the other hand, I do have a bee in my bonnet about the absolute
rubbish that is put around about trading on the net.
I think collectively the forum can do a bit better with a little
informal guidance here and there.
You make some interesting points for discussion.
To be fair to Mr Pardo.
The book was written in the early 90's, its a short book and it
appears to be intended as an introductory text.
It does do a good job of that.
It does set out all of the concepts in a logical and understandable
way.
I admit I am a very hard marker.
It's certainly a book I that I go back to.
I would like to have seen his more advanced concepts or a more in
depth discussion of exceptions etc.
When I say that I don't agree with all of his conclusions that is my
way of placing a disclaimer to indicate that I don't believe people
should follow anyone blindly.
On the other hand, I appreciate that it is *a cheap shot* to make
contrary statements without any supportive argument.
At some time in the future, when I can do a proper job of it, I might
lay out the arguments to support some of the statements I have made
about stats and system design etc. and give the forum a chance to
make their critique.
Brian *:-)
--- In amibroker@xxxxxxxxxxxxxxx, "sursod" <sursod@xxx> wrote:
>
> Hi Brian,
> I enjoy your posts of ideas.
> I agree with you regarding derivative indicators although I use
> Stochastics (SRSI) and Bollinger Band of RSI, both derivative of
> derivative of price. Personally I do not rate any TA indicator as
> better than 35-65% accurate and often randomness decides when. It
is
> more important to know the indicator we use so we understand when
it
> might fail then to chase newer and fancier indicators thinking
> computation sophistication equates the holy grail.
>
> I value Pardo's book on systems design very much but ultimately we
> have to make our own rules and write our own script, there is no
> holy bible and no absolute truth except the inconvenient truth at
> the bottom line of the trading account.
> Sursod
>
> --- In amibroker@xxxxxxxxxxxxxxx, "brian.z123" <brian.z123@>
> wrote:
> >
> > Hello Bill,
> >
> >
> > I'm pleased you read the reply as I hadn't seen you around for a
> > couple of days and thought you might have disappeared.
> >
> > Trialling (it's not in my dictionary either - I haven't been to
> > school for a while) = = trial and error (paper trading or virtual
> > trading where you visualise the outcomes of your systems in your
> > minds eye or imagination).
> >
> > I base this approach on my theory of success (template) = = theory
> > (reading?)followed by practice (backtesting?) followed by
> application
> > (trading or virtual trading) and then back to the drawing board
to
> > fix up your mistakes - the path to success is perpetual
> application
> > of the above cycle (continuous improvement in business terms).
> >
> > I discussed *The Success Template* in more detail in a previous
> topic
> > on Trading Psychology.
> > It was of minority interest only and some forum members didn't
> like
> > it at all so it may not be to your taste either.
> >
> > Trading bank = = trading capital = = the amount of money you have
> to
> > trade with.
> > Depending on your definition of ruin i.e all of your capital is
> gone
> > or 50% of your capital is gone, once you trade to ruin it is game
> > over until you can put together another stash (by the way ruin
> isn't
> > in my trading goals).
> >
> > I understand your point on AccDis.
> >
> > I am a liberal and free thinker.
> > As far as I am concerned feel free to speculate and use examples
> etc
> > in discussions.
> > There is no pressure on from me to be correct.
> > It is only a discussion.
> >
> > If you are going to write a book etc it is a different matter.
> >
> > Brian*:-)
> >
> > P.S
> >
> > I am not a training guru so feel free not to believe anything you
> > can't verify for yourself.
> > When in doubt put it in the holding pen.
> > If it doesn't stack up throw it in the rubbish bin.
> >
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, Bill Halliday <halliday_mo@>
> > wrote:
> > >
> > > Brianzee123,
> > >
> > > Thank you for your response. I appreciate them very much.
> > >
> > >
> > > Am I on the right track?
> > >
> > > Definitely.
> > > It's a long way to the top though.
> > >
> > > Unquestionably true!
> > >
> > > Suggest improvements to your approach?
> > >
> > > Keep doing what you are doing (reading, thinking,
questioning,
> > > discussing, trialling; you are in good company with AmiBroker).
> > > It will be interesting to see what you can do in a few years if
> you
> > > are still around.
> > >
> > > I will read, think, and question. Discussing my findings in
> this
> > > forum is the way I plan to verify/focus my approach.
> > > Trialling isn't in my dictionary, what is it?
> > >
> > > Suggest improvements to your system development?
> > >
> > > I would say to think carefully about the criteria you use to
> > evaluate
> > > your systems (there is discussion in Pardo about this-I will
> read
> > it) and to
> > > understand the principles of money management thoroughly (there
> are
> > > 1000's of systems but you only have one trading bank).
> > >
> > > I'm not faminiar with the term: trading bank, what is it?
> > >
> > > My initial reason for starting the document was to learn what
> a
> > > system was composed of and how to put one into practice.
> > > It's a start!
> > >
> > > Soon I'll be up to the place where I can set realistic goals
> for
> > a system.
> > > As you point out, the Accumulation/Distribution System wasn't
> > intended
> > > to be used as a system, but was only used for the purpose of
> > learning
> > > to think/write/plan etc. in "Systems".
> > >
> > > Thank you for reviewing my approach and providing comments on
> it.
> > >
> > > I look forward to your comments on my next offering.
> > >
> > > Bill
> > >
> > >
> > > ---------------------------------
> > > Have a burning question? Go to Yahoo! Answers and get answers
> from
> > real people who know.
> > >
> >
>
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