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I cant really comment on what Eugene is or isnt.
However as Jay rightly points out it is not the
indicator thats going to make anyone any money. It is
the ability of the trader to comprehend price
movement.
Some traders are gifted enough to the extent of being
able to discern price direction, quantum of the move
etc etc simply by observing price movement alone. Some
like me need an indicator. The trick is in being able
to comprehend how price behavior relates to the
behavior of indicator i.e. use the indicator purely as
a reference point and not the last word.
So it is best that one focusses on understanding the
construction and working of an indicator and then
understand how price behavior relates to the workings
of the indicator. Unfortunately black boxes dont allow
the users to do that and IMHO are best avoided. Saves
the money that would be spent on buyng them as well as
any losses that one would have to suffer in the world
of trading.
Rakesh
--- JayTownsend@xxxxxxx wrote:
> In a message dated 4/24/2003 11:18:31 AM Pacific
> Daylight Time,
> pring99@xxxxxxxxx writes:
>
> > MS users - anyone using this product from Eugene?
> >
> > If so, what are you trading with it and what are
> your general stats
> > using it on actual trades?
> >
> > Pring
> >
>
> Eugene has repeatedly touted his product(s) on this
> list while never
> contributing one iota to MetaStock issues. He once
> responded to one of my
> posts with directions to his web site and one of his
> MS plug-in "solutions."
> He has black box software and does not reveal
> formulas. This is a quote from
> Futures Magazine regarding black box software:
>
> "There are a number of underlying conceptual design
> limitations and
> weaknesses in today's system software programs that
> are primarily responsible
> for their failure to live up to their claims.
>
> What's wrong
> First, there is a nearly exclusive emphasis on the
> use of nondisclosed logic.
> The trader is prevented from understanding how and
> why the system's trading
> signals are generated. And the technical indicators
> that comprise the logic
> are preset and cannot be controlled or altered by
> the trader.
>
> Extensive historical testing has shown that a
> trader's understanding of the
> logic and control over its technical indicators
> (along with his command of
> market dynamics) contribute more to his overall
> trading success than the
> logic or indicators themselves."
>
> The entire article can be found at:
>
> <A
>
HREF="http://www.day-trading-commodities.com/why_system_software_fails_futures_traders.asp";>
>
http://www.day-trading-commodities.com/why_system_software_fails_futures_trader
>
> s.asp</A>
>
> It is my opinion that Eugene is nothing more than a
> lurker and a SPAMMER and
> I too would like to know if anyone has had success
> with one of his plug-ins.
> And you too Eugene could also publish some of your
> real time results to this
> list, if in fact your black boxes work.
>
> Jay
>
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