|
PureBytes Links
Trading Reference Links
|
Your point is well taken. I do think $300 or $400 is a hefty price to pay
(or $5 for that matter) for something that will probably cost you thousands
if it isn't proven to reliably find good trades (cause more harm than good).
If I designed an exploration similar to Mr. Murphy's, I would want to know
its efficacy before using real money with it, let alone selling it to the
public. I agree it's not a "system," but it still has an implied duty to
perform better than a dart-throwing monkey in regard to its advertised use.
Does it find "Head and Shoulder" formations 89.8% of the time or 23% of the
time?
Just commenting on the two ways to make money in the markets: (A)
"Investing" or (B) selling a tool to make money "Investing." Unfortunately,
those that can't make money "Investing" go to plan B, or buy products from
those marketing plan B. If you want to make money investing, fire up
Metastock, delete all the indicators, and study "Candle Stick" style charts
for a couple hours a day until you see the obvious...
Dave D.
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of Simon Roberts
Sent: May 08, 2001 3:14 AM
To: metastock@xxxxxxxxxxxxx
Subject: Re: John Murphy's Chart Pattern Recognition software
David,
You are completely missing the point.
Murphy's chart pattern recognition software is not a system. It is exactly
what it says on the box. It is software, a metastock exploration, which
recognises a few basic chart
patterns.
These you will have to learn to use using your own judgement and
discretion. Personally I would like to be able to tweak the lookback
periods.
Only dreamers expect to buy a system which you install and then
trade without any discretion or input, and make money.
If you dont think Murphy's product any good , then please produce something
better and I
will buy that too.
Simon
-----Original Message-----
From: David DeFina <ddefina@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: 07 May 2001 17:43
Subject: RE: John Murphy's Chart Pattern Recognition software
>I think it's interesting to sell a plug-in for $300 with no historical or
>actual performance figures, and I assume no way to back test it? Does John
>Murphy make money with a real trading account? Maybe they should publish
>his actual trading record using the plug-in! I read that the "infamous"
>Nick Van Nice, the commodity trader, who has sold his trading methodology
>for years, was actually a fraud and never traded his own account. He had
>his own account 10 years ago but lost money! I still don't believe anybody
>sells a system that actually works. Why not trade or manage money with a
>working system rather than sell it and possibly undermine its performance?
>
>http://www.cftc.gov/opa/enf00/opa4455-00.htm
>
>
>ddefina@xxxxxxxxxxxx
>
>-----Original Message-----
>From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On
>Behalf Of Curtis Newberg
>Sent: May 07, 2001 7:04 AM
>To: metastock@xxxxxxxxxxxxx
>Subject: Re: John Murphy's Chart Pattern Recognition software
>
>I tried it and returned it for a refund. I had no problem getting a refund
>to my credit card. Do it within the thirty day period they allow.
>----- Original Message -----
>From: Brian Gaddis <bngaddis@xxxxxxxxxxxxxx>
>To: <metastock@xxxxxxxxxxxxx>
>Sent: Friday, May 04, 2001 9:01 PM
>Subject: John Murphy's Chart Pattern Recognition software
>
>
>> Anyone here use John Murphy's Chart Pattern Recognition plug-in?
>> What do you think of it?
>>
>> Thanks.
>
>
|