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Am I missing something or am I the only one to think that the MS System
Tester is perfectly useless?
The only available entry/exit options (up to v7.2 anyway) are Open, Close,
High, Low. Surely what is required in order to reflect real life is the
option to enter or exit a trade at a specific intraday price. For example,
if you are a swing trader like myself, you may want to enter a trade a tick
above yesterday's high or, say, when the price crosses a moving average.
Does anybody really use the high/low options for entry/exit testing? If you
do, your systems will backtest brilliantly.
IMO, the other major shortcoming is the inability to enter a second trade
before the previous one has been closed. Once again, this is
unrepresentative of real life where one may wish, say, to add to an
existing position if the move continues in one's favour.
I now use Excel for all of my system testing. Tests are pretty easy to set
up and you can plot equity curves and lots more besides. Excel formulas for
practically all of the Metastock indicators are widely available on the
web. You can either copy and paste MS data into your spreadsheet or there
is a great little package called Metalib that enables you to read Metastock
data into Excel in batch mode thereby performing one, or several, system
tests on several equities at the same time. I found Peter Zierl at Metalib
to be extremely helpful when I was initially setting it up for myself.
Nearly all of the other testing requirements that I have seen mentioned in
this forum can easily be realised using Excel. I hope that this may be of
some help to the Group.
End Testing Misery Now!
Regards,
Kevin
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