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This is why I haven't used my Metastock (Upgrades paid for since 4.0 Ouch!)
for the last 4 months. I have decided to test MM strategies against a random
entry indicator. The only way I can do this is to write my own software from
scratch (in Delphi). This gives me "infinite" control over the next trade
decision.
Can Metastock scale -in/out. No it only trades the full whack!
WBMOT (Without Blowing My Own Trumpet <g>) I CAN test:
legging in, legging out, moving stops, pyramiding, and betsize
relative to total equity.
I can test things I haven't thought of yet like .... Oh yeah I haven't
thought of them yet.
Anyway when I get the SW in a fit state, I intend to give it away. You will
prob have to create DLLs for it to test.
-----Original Message-----
From: TKruzel [mailto:TKruzel@xxxxxxxxxxxxxxxx]
Sent: 22 April 1999 12:09
To: metastock@xxxxxxxxxxxxx
Subject: Re: Money management
In general I would recommend the book. How useful it is to any
given individual depends upon the mathematical background of that
person. I thought it was well written. IMHO would be traders spend
much too much time creating indicators. None of these indicators in
the long run will give you more than a 50:50 chance at making money.
The real "holy grail" is managing money and risk. Those are the only
factors that you can control and the only way you can win in the long
run. It is unfortunate that the writers of trading software totally
ignore this aspect. Much more emphasis should be placed upon developing
a product that allows one to test more sophisticated money management
strategies (e.g. legging in, legging out, moving stops, pyramiding, and
betsize relative to total equity). But I suppose most people hate math
and like pretty pictures so that is the target market for so called
trading software.
OK. Sorry for the rant. Yes I would recommend the book.
Regards,
Tim
Glen Wallace wrote:
>
> Has anyone read "The Mathematics of Money Management" by Ralph Vince? It
> was recommended to me as an advanced, yet practical book on money
management
> and risk management.
>
> Any comments?
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