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David:
Right on.
Excellent advice.
Lionel Issen
lissen@xxxxxxxxx
----- Original Message -----
From: "David DeFina" <ddefina@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Wednesday, May 09, 2001 10:10 AM
Subject: RE: John Murphy's Chart Pattern Recognition software
> 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.
> >
> >
>
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