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I read that article, too. Unfortunately I didn't keep it and now I can't
find it at Futures Magazine's website, so if anyone else has it, please post
it.
The criticisms were valid. I recall one was that Bill Williams blasted the
$3,000 trading system and black-box vendors, and then made sure to mention
his Investor's Dream software. I think the other criticism was an example
of a 3-month Dell trade using his system that produced a $35,000 profit.
Williams did not mention that the capital required to execute all the buy
signals was $180,000. In fairness to Bill Williams, this was just an
illustration of how the trades are executed. That kind of capital allocated
to a single security is not required to trade the system.
I would add a couple more criticisms, myself. First, he repeatedly (and
annoyingly) refered to the formula for calculating a price midpoint as
(H-L)/2 rather than (H+L)/2. Second, some of his descriptions of his
indicators were less than precise and it took some work to accurately define
them. I must say, though, that his trading group in Texas City, Texas were
helpful in clarifying this for me.
To call Bill Williams a scammer, however, I think is a bit harsh.
-----Original Message-----
From: Mark Brown <markbrown@xxxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>; MetaStock listserver
<metastock@xxxxxxxxxxxxxxxxxx>
Date: February 9, 1999 12:07
Subject: Re: Bill Williams' Profitunity indicators
>In Futures Magazine, they wrote an article that mad Bill Williams out to be
>a Scammer..
>
>and this new book was at the center of it....
>
>
>
>Matt:
>
>You mentioned that you tested the Awesome Oscillator and Acc/Dec. I did so
>as well, and was disappointed by the results until I realized these
>indicators are essentially money management tools to signal an add-on to an
>existing position. The fractal buy and sell signals, however, signal the
>initial entry. It was with this that I got interesting results.
>
>Did you do any testing of the fractal buy and sell signals?
>
> -----Original Message-----
> From: Matt Bowen <bowenarrow@xxxxxxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>;
>metastock@xxxxxxxxxxxxxxxxxx <metastock@xxxxxxxxxxxxxxxxxx>
> Date: February 9, 1999 07:11
> Subject: Re: Bill Williams' Profitunity indicators
>
>
> Hi Glen,
>
> I also tested the indicators for Bill's new book:
> (click on book to go to Amazon)
>
>
> IMO, the book reads well and the concepts are sound...
> However, after testing the system It's not the holy grail, in fact you
> could use a Moving Average system with DMA's that will produce about
> 2X greater profit. I tested the Awesome Oscillator alone and combined
> Awesome with the Acc/Dis on the test...
> I'm not knocking the book, in fact it's a good book that will help many
> new traders understand (or at best show them) what it takes to produce
> a winning system. The bottom line on Bill's new concepts...
> They are profitable over a wide margin of stocks in database of all
> NYSE, AMEX and NASDAQ stocks...
>
> Best Regards, Matt
>
> ----- Original Message -----
> From: Glen Wallace <gcwallace@xxxxxxxx>
> To: <metastock@xxxxxxxxxxxxxxxxxx>
> Sent: Monday, February 08, 1999 8:51 PM
> Subject: Bill Williams' Profitunity indicators
>
>
> >My first post here. I'm quite new to this listserver, so this is
>probably a
> >"been there, done that" but ......
> >
> >Is anyone interested in comparing notes on Bill Williams' Profitunity
> >system? I wrote the Formula Language code for most of the New Trading
> >Dimensions indicators and did some pretty extensive walk-forward
>testing of
> >the fractal buy and sell signals. Interesting results and I think
>there is
> >something there -- maybe not the Holy Grail, but perhaps a nice,
>pewter
> >grail.
> >
>
>
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