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Mark,
I'm interested in how much time you have "invested"
in your quest for the grail? 10, 100, 10000, or 100000 hours? And, I
believe you are partially right: "the Holy Grail does not exist". There is
not a Holy Grail...there are many Holy Grails.
Many traders put "blinders" on and are looking for
the "cup" that matches their imaginary illusion. The grail can be as
inconspicuous as a styrofoam, 6 oz. coffee cup...with lipstick stains.
I've seen the "grail" in many hands of people
that spent all their time praying for it's delivery/arrival...only to be tossed
aside for hundreds of silly reasons. Very few successful mechanical
traders are willing to share their work. I can understand
why.
Efforts to educate individuals is often met with
negative prejudices about the markets, indicators or style. When an
individual embraces a successful approach, many times they toss out common
sense (money management principals) because they are overcome by
greed.
I have tested thousands of mechanical systems,
and I guess I must admit that very few mechanical systems work. But,
very few things will start my car. If I try starting it
with a rock or a chunk of wood...it's not successful. I could try to start
it with thousands of instruments...to no avail. On the other hand, give me
a bag of keys and a couple thousand hours and I will assure you I can get that
thing to turn over.
Mechanical systems start with sensitive
and reliable indicators. They then need to be framed by a set of rules
that objectively trigger trades. And finally, it all needs to be wrapped in
a neat package that addresses money management.
So, the Burger King styrofoam cup is OK by
me. In fact, my research has turned up discrepancies about the
history of the "grail". The biblical scholars that I talk with think that
maybe the last supper was a barbeque and the over the years, the translations
were a bit off. They believe we should be searching for the "grill" (with
"holes") in the bottom (the prototype of today's Weber).
Take care,
Steve Karnish, CTACedar Creek Trading<A
href="http://www.cedarcreektrading.com";>http://www.cedarcreektrading.com
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A href="mailto:MRWattles@xxxxxxxxxxxxxxx";
title=MRWattles@xxxxxxxxxxxxxxx>MRWattles
To: <A
href="mailto:metastock@xxxxxxxxxxxxx";
title=metastock@xxxxxxxxxxxxx>metastock@xxxxxxxxxxxxx
Sent: Tuesday, October 16, 2001 6:18
AM
Subject: RE: hello from a newbie
<FONT color=#0000ff face=Arial
size=2>Newbie,
<FONT color=#0000ff face=Arial
size=2>
<FONT color=#0000ff face=Arial
size=2>Regarding mechanical trading systems, the Holy Grail does not
exist.
If
it did, I would own the New York Stock Exchange.
<FONT color=#0000ff face=Arial
size=2>
Mark
Wattles
<FONT color=#0000ff face=Arial
size=2>PS
<FONT color=#0000ff face=Arial
size=2>Very, very, very few mechanical trading systems make
money.
<FONT face=Tahoma
size=2>-----Original Message-----From: <A
href="mailto:owner-metastock@xxxxxxxxxxxxx";>owner-metastock@xxxxxxxxxxxxx
[<A
href="mailto:owner-metastock@xxxxxxxxxxxxx";>mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of Herman van den BergenSent: Tuesday, October 16,
2001 7:20 AMTo: metastock@xxxxxxxxxxxxxSubject: Re:
hello from a newbieThank you Maurice, for your
introduction, and welcome to the list!We have quite a variety of
traders on this list, some very good, some with 'almost' public' trading
systems and others who sound very successful and knowledgable but who never
talk about their systems. All in all a good bunch.Then there are
many like me, who are still struggling to get a system to work in all
markets ;-) and who once in awhile complain about the shortcomings of MS and
suggest using a standard programming language to do the job (not easy). But,
complains and bug reports are good discussions and can prevent you from
wasting a lot of time. There are other sources for MS formulae and
systems on the internet and you may want to browse these list archives for
some of the sites: http://clubs.yahoo.com/clubs/equismetastock
http://groups.yahoo.com/group/Metastockusershere are some sites you
might like to
visit:http://www.guppytraders.com/index.htmlhttp://www.cedarcreektrading.com/momenoscdef.htmhttp://www.paritech.com/education/technical/custom/default.asphttp://traderclub.com/cgi-bin/discus/show.cgi?107/107of
course there are more sites...Take care and happy
trading,HermanCanadaYou'll find a lot of MS expertise
here... support@xxxxxxxxx is also helpful and generally gives prompt replies
within a couple of days.At 05:13 PM 10/16/01 +0800, you wrote:
>>>>Hello fellow
technicians,I
am a newcomer to this list and thought it would be polite to givea brief
self-intro. My
name is Maurice, am 34 years old, have been into TA since1995, and am a
fund manager in the Philippines. I currently useMetastock 6.52.I'm
a chart pattern trader first, and an indicator guy second. I don't know
much about the heavy math indicators and writingindicator code, but I do
have a keen interest in market / traderpsychology and risk/money
management approaches. I hopeto be able to some contributions to this
list, and am sure willlearn a lot from the many fine minds present. May
the trend be with
you,Maurice<<<<
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