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<SPAN
class=612530008-03122000>John:
<SPAN
class=612530008-03122000>Thank you for the excellent advise. I, too, have
worked in the computer business (22 years for me) and I've written some pretty
complex programs. Reading the indicator descriptions made me wish I'd paid
more attention in math classes!
<SPAN
class=612530008-03122000>
The
picture that's slowly forming is that I use an Exploration to scan a large
number of stocks that meet some criteria. Then I use the System Tester,
with a test that's somewhat based on the criteria used in the Exploration, to
back test and see if the System would make money on those particular
stocks.
<SPAN
class=612530008-03122000>
<SPAN
class=612530008-03122000>Once I have a System that works I write an Expert that
looks for the criteria that the System Tester used (or can I copy a Tester into
an Advisor?). I move the stocks that I've selected from the output of the
Exploration into a Watching folder and attach my Expert to each chart.
Then each day, after making sure my Watching folder has been added to the
DownLoader list to get prices updated, I scan manually through each chart
waiting for an Expert alert telling me to take a position.
<SPAN
class=612530008-03122000>
<SPAN
class=612530008-03122000>Once I do, I move the stock into a Long or Short folder
(and add these folders to DownLoader list) and have the same Expert attached and
scroll through them each day waiting for an exit alert, or advise on setting
stops.
<SPAN
class=612530008-03122000>
I
know this would get more complicated by having several Experts that get attached
& detached - probably offering conflicting advise, but is this the basic
method of using MS? Explorations find stocks that meet a criteria so they
can be segregated and have an Expert attached and be manually scrolled through
each day looking for alerts?
<SPAN
class=612530008-03122000>
<SPAN
class=612530008-03122000>Bill
<BLOCKQUOTE dir=ltr
style="BORDER-LEFT: #008000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px">
<FONT
face=Tahoma>-----Original Message-----From:
owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of jhmtnSent: Friday, December 01, 2000 12:42
PMTo: metastock@xxxxxxxxxxxxxSubject: Re:
Metastock.
Bill,
I'm another "newbie". I call myself that although I've had the
product for several years, it has only been the last 6 months that I've taken
the time to really learn how the coding for explorations
and indicators works. (I haven't written my own exploration yet,
but that is coming -- real soon now.)
1. My advice is go slow and don't frustrate yourself! Expect to
spend some time to
really understand how the functions work. It took me several months
of writing explorations to get a real "ah-ha" experience, and I was a
programmer at one point in my career.
2. Read, re-read, and work at your computer with your book at your side
and look it up if you don't know.
3. Start with writing some simple explorations. One way to do that
is to pick one that comes with the program and copy it into a new one, then
change it. The packaged one may come with a 14 day period for example
--- so change that to a 8 day or a 13 day period and run it.
4. Create some utility explorations -- like find issues that may have
split yesterday or find issues in your files that no longer trade. (I
have a version of these I've written if you run into trouble).
5. Create a simple 1 moving average exploration. once that works expand
it into a 2 moving average crossover system.
6. Now tackle some momentum indicators similar to #5.
7. Now comine MA's and momentum indicators.
8. Read Technical Analysis of Stock and Commodities magazine and
implement the code you find there as indicators.
9. Go to the Metastock and Guppy sites for other indicators.
10. Now go through the book and "play" with some of the functions
you haven't used in code yet. Ensure that by writting an exploration for
them you understand what they do and how they work. (I found it helpful
to place a small check mark in the book by each function that I did this for
and really think that I understand.)
There is no reason to buy a $5,000 canned system as long as your willing
to take the time to learn Metastock yourself. There are some things that are
beyond the current version that I have (7.0) of Metastock. If you have a
system that MS just can't handle, then you might want to look into purchasing
the DLL generator. I have found that every time I wanted that whiz-bang
indicator that needed more sophisticated code, that I found some other
way to accomplish the same thing with what is provided or that the complexity
of the system was not really needed for my trading style
(swing-trader, these days in a very short time frame!).
Hope this helps! .......(And Good Tradin').....................
John
----- Original Message -----
<BLOCKQUOTE dir=ltr
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Bill
Irwin
To: <A href="mailto:steveb@xxxxxxxxxxx";
title=steveb@xxxxxxxxxxx>steveb@xxxxxxxxxxx ; <A
href="mailto:metastock@xxxxxxxxxxxxx";
title=metastock@xxxxxxxxxxxxx>metastock@xxxxxxxxxxxxx
Sent: Friday, December 01, 2000 12:07
AM
Subject: RE: Metastock.
<SPAN
class=294155907-01122000>Thanks Steve. I know what it can be like
after you become familiar with a product. I've used Quicken Home &
Business for several years and, although I'm quick to point out its
shortcomings because I think some of them are just oversights, I use it
every day and it's very functional at doing most of what I need. I'm
constantly striving for that perfect world where all the software does
everything perfectly... 8^)
<SPAN
class=294155907-01122000>
<SPAN
class=294155907-01122000>I've made a folder to contain my positions and I'm
moving stocks there as I create them. Now I just need to determine
which of the myriad of Experts I want to believe!
<SPAN
class=294155907-01122000>
<SPAN
class=294155907-01122000>Do you (or others) have favourites that I could
start with, or do you use custom ones that sell for $5,000 each? I
realize this is probably a Pandora's Box ... like asking a group of traders
what the best software is.
<SPAN
class=294155907-01122000>
<SPAN
class=294155907-01122000>Thanks for the feedback. I appreciate
it. Funny how it took until after 10 PM tonight for your message to
reach me and you sent it at 10:41 AM ...
<SPAN
class=294155907-01122000>
<SPAN
class=294155907-01122000>Bill
<BLOCKQUOTE
style="BORDER-LEFT: #008000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px">
<FONT
face=Tahoma>-----Original Message-----From: Steve Brann
[mailto:steveb@xxxxxxxxxxx]Sent: Thursday, November 30, 2000
10:41 AMTo: metastock@xxxxxxxxxxxxxCc:
Bill-Irwin@xxxxxxxxSubject: Metastock.
Hi Bill
Welcome to the world of Metastock - to
jaded old hacks like me its refreshing to read you speaking so well of the
product. Having got used to it I tend only to see what is doesn't do
yet claims to do. However, enough of that cynicism.
I do not know of any feature that allows
you to "flag" a security that you have a position in. I can only
suggest that when you take out a position you move that security into a
separate list or folder (create a long folder and a short folder) and
then run your "close position" explorations against securities in those
folders. A bit long winded but really only a couple of clicks within
downloader once you have the folders set up.
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