Jan, I am curious how you and other discretionary
traders are using
afl and the backtester. You mentioned constructing some models you
use. Are you also backtesting those models?
I'm intrigued by the tools used by discretionary traders, but I would
not feel comfortable embarking on a discretionary trading career
without testing the trading techniques on historical data.
There have been some occasions when I have used the study drawing
tools and wished for an easy way to incorporate the drawing tool into
a rule-based system. I would like to see additional afl functions to
expose the drawing tools to rule-based systems. I think this would
benefit both rule-based and discretionary traders.
Cheers, Steve
--- In amibroker@xxxxxxxxxps.com,
"Jan Malmberg" <jan@xxx> wrote:
>
> How97,
>
> You speak for your own personal interests as a systems-only-trader.
You
> should look at things from TJ's side as well. Since he asked us, it
is clear
> that he wants some input on how to improve Amibroker's charting side as
> well.
>
>
>
> By the way, you are very much mistaken if you think that discretionary
> traders have no use for Amibroker and its AFL capabilities. I have
> constructed quite a few models that I use, and have lots more
coming, that
> in no way are for system users only. There seems to be a widespread
> perception that all that discretionary traders do is draw a few
trendlines,
> label some Elliott Waves, and look at a few Fibonacci levels. That
is not
> true. For instance, I have run various tests on most of the MA's I
watch in
> order to assign them their proper level of importance when making
decisions
> – which was greatly simplified using Amibroker. Also, a lot of
discretionary
> traders use quite advanced custom made indicators in order to
extract more
> information from the market. Amibroker is excellent for those things as
> well.
>
>
>
> No matter how much I like the program, I will continue to ask for
> improvements on occasion, especially when the programmer asks for input.
>
>
>
> You also mention that if this and that program has better abilities,
why do
> we not use it? The reason is this: Amibroker lacks a few minor
things from
> that program, a few minor things from this program, and so on, while
having
> great general and (some) advanced charting capabilities. For TJ to
gradually
> add a few useful things from other programs to further improve
Amibroker for
> all kinds of users will in the end equal more money for TJ, which in
the end
> equals if possible even more dedication, even better software, if
possible
> even better support.
>
>
>
> Since Amibroker in itself is not a system, from my point of view
there isn't
> any downside to TJ improving all aspects of Amibroker in order to
attract
> more and more users.
>
>
>
> Lastly, I know of many people who are discretionary traders at various
> levels of proficiency to whom I recommend Amibroker. It is a very
simple and
> mostly user-friendly program, and you get much for the price of the
program.
> So, until I see some statistics about the Amibroker users, I would not
> assume that most of them are hardcore systems or auto-systems
traders that
> desperately need all of the (arguably very good and useful) features you
> mentioned, nor would I assume that even if most customers are system
> traders, that they would disapprove of new charting features,
features that
> in the end may give them new ideas for their system designs.
>
>
>
> Well, just my 0.13 SEK, and I am not yet an Immortal.
>
>
>
> Best regards / JM
>
>
>
> _____
>
> Från: amibroker@xxxxxxxxxps.com
[mailto:amibroker@xxxxxxxxxps.com]
För how97
> Skickat: den 19 augusti 2008 17:17
> Till: amibroker@xxxxxxxxxps.com
> Ämne: [amibroker] Re: 'Rule Based' versus 'Discretionary' trading...
>
>
>
> I believe it is clear that the large majority of the AB users want
> to have the possibility for rule-based trading, backtesting,
> automatic analysis, automatic trading etc. For that group Amibroker
> is just excellent and it is constantly enhanced in these
> possibilities. And that is what the large majority of its users
> wants. And AB strongly supported by its users and driven by their
> wishes.
>
> The large majority of users is clearly not the discretionary
> traders. These may need better or specialized charting. That may
> well be. If this better charting software exists already as you are
> saying, why are you not using it, why did you come here to AB? What
> were you looking for?
>
> I think it is also a clear preference of Tomasz to develop AB into a
> direction where most of its users wants to ahve it. And that is
> good. A lot of the stuff in AB is much too complex if you are just
> looking for other kinds of charting. So why bother? You need to use
> a different software.
>
> By the way: In my opinion AB allows excellent charting.
>
> Regards
> how97
>
> --- In amibroker@xxxxxxxxx <mailto:amibroker%40yahoogroups.com>
ps.com,
> "sidhartha70" <sidhartha70@>
> wrote:
> >
> > From my perspective, and this is really why I connected charting to
> > the ideas of 'rule based' vs 'discretionary' trading... if you are
> a
> > discretionary trader, from a software perspective it is ALL about
> > visibility. If the software you are using doesn't or can't give you
> > the best visibility available then you are at a disadvanatge. You
> > can't make sensible discretionary trading decisions without being
> able
> > to see how current market structure has evolved, what market
> dynamics
> > are at play, how the auction process is evolving at different time
> > frames etc..etc.. You simply don't get that from bar & candle
> charts.
> >
> > Hence my obsession with Market Profile & Equivolume and generally
> more
> > accessability and adaptability to AmiBroker's charting facilicites.
> >
> > Currently it's a fabulous piece of software, particualrly for 'rule
> > based' traders.... But probably a less fabulous piece of software
> for
> > discretionary day traders for example. But of course, I appreciate,
> > it's hard to be all things to all men...
> >
> > --- In amibroker@xxxxxxxxx <mailto:amibroker%40yahoogroups.com>
ps.com,
> Ken Close <ken45140@> wrote:
> > >
> > > One simple suggestion for charting improvement:
> > >
> > > Put in the ability to insert a "Tab" character in a
Title
> statement
> > in order
> > > to make it easier to produce multi-line tables with
"columns"
> left
> > justified
> > > no matter how many decimal places in previous values in the same
> row. I
> > > have done it via complex IIF statements but how nice it would be
> to
> > insert
> > > the code for a tab character to create columns. No, I do not
> want to do
> > > this with the gfx commands (too complex for this application).
> > >
> > > Ken
> > >
> > > -----Original Message-----
> > > From: amibroker@xxxxxxxxx <mailto:amibroker%40yahoogroups.com>
ps.com
> [mailto:amibroker@yahoogrou <mailto:amibroker%40yahoogroups.com>
ps.com]
> > On Behalf
> > > Of Tomasz Janeczko
> > > Sent: Monday, August 18, 2008 4:33 PM
> > > To: amibroker@xxxxxxxxx <mailto:amibroker%40yahoogroups.com>
ps.com
> > > Subject: Re: [amibroker] 'Rule Based' versus 'Discretionary'
> trading...
> > >
> > > Hello,
> > >
> > > Not wanting to hijack this thread but whenever I ask about some
> itemized
> > > list of what is exactly "weak" in AB charting, I don't
receive
> any
> > > meaningful reply. I would really want to know some objective
list
> > instead of
> > > statements I heard on ET that "charts are ugly" which
for me
> > unfortunatelly
> > > means nothing, considering the hunderds of ways charts can be
> customized
> > > according to user taste in AB.
> > >
> >
>