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Re: Steve Karnish Challenge



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How much is 50 GBp in Confederate money?
Lionel Issen
lissen@xxxxxxxxxxxxxx
----- Original Message -----
From: "David Jennings" <DavidJennings@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Sunday, June 10, 2001 2:22 PM
Subject: Re: Steve Karnish Challenge


> Absolutely not, how about opening a book. 50 GBp says Steve wins by a
> country mile.
> ----- Original Message -----
> From: "Lionel Issen" <lissen@xxxxxxxxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Sunday, June 10, 2001 5:55 PM
> Subject: Re: Steve Karnish Challenge
>
>
> > Rick:
> > This personal vendetta and challenges must stop.  It is
counterproductive
> > and distracting to most of us.
> >  If you want to challenge Steve Karnish please do so privately, then
post
> > the results if you want to.
> > Lionel Issen
> > lissen@xxxxxxxxxxxxxx
> > ----- Original Message -----
> > From: "Rick Parsons" <RickParsons@xxxxxxxxxxxxxxx>
> > To: <metastock@xxxxxxxxxxxxx>
> > Cc: <kernish@xxxxxxxxxxxx>
> > Sent: Sunday, June 10, 2001 9:35 AM
> > Subject: Steve Karnish Challenge
> >
> >
> > > Steve,
> > >
> > > I guess if I'm a cynic, it is because it is what I have experienced
and
> > seen
> > > in the past.  As I said on my email, I am open minded enough to
realize
> > > anything is possible.  So I accept your challenge.
> > >
> > > I will check with a dozen users if you provide me their email
addresses.
> > I
> > > sincerely hope you and your users prove me wrong.  If I am wrong, then
I
> > > will be more than glad to apologize.  I probably will even trade your
> > system
> > > and become your strongest supporter.  And I will have learned a
valuable
> > > lesson too!
> > >
> > > Of course we must all realize you have the advantage of picking the
> dozen
> > > names.  No doubt you can easily pick and choose among your list to
give
> > > yourself an advantage.
> > >
> > > I have been looking over your website and have a several questions:
> > > 1)  Are the free stock picks chosen by using the free momentum
> oscillators
> > > listed on your website?  Or do you use a proprietary system?
> > > 2)  I see your charts showing buy and sell signals go back one year.
> For
> > > how long have you actually traded these systems using real money?
> > > 3)  I notice many of your buy signals show large drawdowns before they
> > > recover and exit at a profit.  Can you post the system statistics on
> each
> > > stock chart so we can see the maximum drawdowns?
> > > 4)  How often do you re-optimize the momentum oscillators if at all?
> > >
> > > Thanks for taking the time to help me understand your methods.
> > >
> > > Thanks,
> > >
> > > Rick
> > >
> > >
> > > -----Original Message-----
> > > From: owner-metastock@xxxxxxxxxxxxx
> > > [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Steve Karnish
> > > Sent: Saturday, June 09, 2001 2:32 PM
> > > To: metastock@xxxxxxxxxxxxx
> > > Subject: Re: QQQ System Test Optimizations
> > >
> > >
> > > Rick,
> > >
> > > I seldom waste my time with cynics...but, which would you prefer:
> audited
> > > statements or a list of a dozen clients to contact?
> > >
> > > The problem is not developing something that works...the problem is
> > dealing
> > > with people, like yourself, who are so prejudiced and frustrated by
> their
> > > own inability to appreciate equity (they "transfer" these inadequacies
> to
> > > all traders, brokers, and vendors).
> > >
> > > You got it all wrong Rick:  Optimized systems are the "holy grails" we
> all
> > > dreamed about.  They just happen to be lethal weapons in the hands of
> the
> > > pompous, unskilled and skeptical.
> > >
> > > I dare you to call my clients.  I will give you all the numbers if you
> > > report your findings and then apologize and admit that you are dead
> wrong.
> > > Blantant indictments are stupid and obtuse.  Maybe if you could
actually
> > > develop something that worked and then had the character to follow the
> > > rules, you'd feel differently about the subject.  In the future, watch
> > what
> > > you say: the "thought police" WILL pull you over when you drive down
> that
> > > "dark road" you've chosen to cruise on.
> > >
> > > I've found that the largest critics of investment strategies often are
> the
> > > folks who fall into the traps that they criticize publicly.  Moral:
"Qui
> > non
> > > intellegit, aut taceat aut discat".
> > >
> > > Take care,
> > >
> > > Steve Karnish, CTA
> > > Cedar Creek Trading
> > > http://www.cedarcreektrading.com
> > > ----- Original Message -----
> > > From: "Rick Parsons" <RickParsons@xxxxxxxxxxxxxxx>
> > > To: <metastock@xxxxxxxxxxxxx>
> > > Sent: Saturday, June 09, 2001 8:54 AM
> > > Subject: RE: QQQ System Test Optimizations
> > >
> > >
> > > > Rudoff,
> > > > Let me ask you this:  Have you or anyone ever found an optimized
> system
> > > that
> > > > has worked in every market over the course of years? (The Holy
Grail)
> > How
> > > > many really manage to follow an optimized system over a long period
of
> > > time
> > > > and ended up with a return that beats the market averages?
> > > >
> > > > I am sure there may be a few but I bet over 90% of all who have
tried
> > have
> > > > given up their system at some point due to excessive drawdown,
losses
> or
> > > > emotional second guessing.
> > > >
> > > > I often see advertisements in magazines or on the net for
"optimized"
> or
> > > > "curve fitted" systems that supposedly give wonderful returns.  Then
I
> > > look
> > > > at the testimonials.  Almost all testimonials are people who tried
the
> > > > system and were one of the few lucky ones to make money in their
first
> > few
> > > > trades.  They then rave about the system.  But I have never seen a
> > > > testimonial where a user says "I have been trading this system for
12
> > > months
> > > > (or more) and have consistently made money every single month for
year
> > or
> > > > more.
> > > >
> > > > Often I will email the owners of the "system" and ask them if I can
> > > contact
> > > > some of their customers or  if they have any chat rooms where the
> system
> > > is
> > > > discussed.  Almost every time they will say "We cannot give out
> customer
> > > > names due to privacy concerns" and "We do not have a chat room".  If
> > they
> > > > say this it is because they don't want you to know that there are a
> lot
> > of
> > > > unhappy customers out there.  If the system was really that good,
the
> > best
> > > > way a company can get more customers is to let current customers
rave
> > > about
> > > > the product in a chat room.  But you don't see that.  At least I
> > haven't.
> > > >
> > > > Perhaps someday someone will develop a system that does give
> consistent
> > > > market average beating returns year after year.  Perhaps one exists
> > right
> > > > now.  I am open minded enough to know that anything is possible but
I
> > will
> > > > need to be able to verify the system by contacting customers who
have
> > > proven
> > > > it works over a long period of time.
> > > >
> > > > Rick
> > > >
> > > >
> > > > -----Original Message-----
> > > > From: owner-metastock@xxxxxxxxxxxxx
> > > > [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of rudolf stricker
> > > > Sent: Friday, June 08, 2001 7:31 AM
> > > > To: metastock@xxxxxxxxxxxxx
> > > > Subject: Re: QQQ System Test Optimizations
> > > >
> > > >
> > > > On Fri, 8 Jun 2001 13:03:28 -0500, you wrote:
> > > >
> > > > >Optimization is a variant of curve fitting.
> > > >
> > > > This looks confusing to me...
> > > >
> > > > Optimization is a process to select systematically a "best" set of
> > > > values for a given parametric model to meet some given goals. So its
> > > > not a bad thing at all, and I cannot understand this "optimization
> > > > bashing" going on here.
> > > > Moreover, _any_ TA work uses optimization, e.g. selecting an
indicator
> > > > from several available _is_ optimization.
> > > >
> > > > Most things criticized here in context with optimization do not deal
> > > > with optimization itself but rather with a "bad" parametric model
> > > > (e.g. robustness) or with an insufficient goal function (e.g. max
> > > > drawdown, number of loosing trades, etc).
> > > >
> > > > >Curve fitting has been used for
> > > > >a very long time to analyze data. One of the caveats of curve
fitting
> > is
> > > > >that you don't use the fitted curve for conditions that are beyond
> the
> > > > range
> > > > >of data.
> > > >
> > > > Curve fitting is a fully accepted application area of general system
> > > > modeling (i.e. a combination of a parametric model, a goal function,
> > > > and an optimization procedure). And of coarse extrapolation can be a
> > > > dangerous thing, if the _parametric model_  does not cover e.g.
> > > > changes of the system behavior over time.
> > > >
> > > > So, we should not blame system optimization  for everything done
badly
> > > > during parametric model and/or goal function setup.
> > > >
> > > > mfg rudolf stricker
> > > > | Disclaimer: The views of this user are strictly his own.
> > > >
> > >
> >
> >
> >
>