|
PureBytes Links
Trading Reference Links
|
There's been a lot of talk about trendmedium so I got the software
and ran a few optimizations. Most of the discussion has centered
around testing. I have my own system for testing.
Over the last year, I've written a couple of experts that I trade
with everyday. They have been tuned specifically for the dozen stocks
I trade.
I compared the results from TrendMedium and the resulting experts
were pretty good. I find that mine still beat TMs by a few tenths of
a percent, (in live trading, not in system tester or whatever) so I
wouldn't switch to the ones that were generated with TM. I calculated
that against the results from live trades, entry and exit points.
The experts I've written are very profitable when applied to the
small universe of stocks I use them on. I have written explorations
and they work well in finding stocks that are about to trigger buys
or shorts in my system. But I don't search for stocks because I make
plenty of money just trading the swings on the stocks I trade
everyday. Sometimes I trade mutual funds. I wrote a great expert
system for mutual funds, but the market is not in the mutual fund
mood right now.
I would put TM's experts in the top ten percent of the ones I've
tested or programmed myself. I have tested over 160 of them, It took
me many hundreds of hours and dozens and dozens of revisions to get
my experts to work as well as they do. You can get ninety percent of
the way there with TM, without the hundreds of hours of work.
That being said, I have no clue if you can make money using TM. If I
subsituted TM's experts for mine, I would still make a nice return,
but I can't speak for what other people are trading. When I tell
traders what I trade and how I trade, they look at me like I'm an
idot, until they find out the daily profit percentage of the system.
I'm a believer in the axiom that you have to trade stocks and use
systems that fit your personality and style. I see people on this
chat site wanting better ways to search 7000 stocks a night. How are
you going to find stocks that fit your style, if you look at 7000
everyday to find 100 new ones.
I told someone today that in one of my revisions I programmed a
system that worked great on a wide variety of stocks. I traded with
it for a few weeks and hated it. It was dead on, but when you don't
like something, you're not going to make money for long with it. I
started making the most money when I picked stocks that fit me first
and then programmed a system for trading them. It fit like a glove,
and now I actually look forward to trading everyday. While I didn't
lose any money with the other system, I was losing my smile, which is
equally as important as how much you make.
TM is not bad. There's a few things I haven't figured out how to do.
The manual is a little sparse.
I would buy it and keep it, if I didn't already have optimized
experts on my charts. I found Bressert's to be the second best plug-
in, if you need a day trading system and can't write one. I've used
almost all of the Metastock plug-ins. They aren't suppose to be a
complete trading system and find all the profitable stocks in the
universe. However, they gave me many good ideas which I have used in
my other systems that produce the results I was looking for.
I see lots of questions regarding plug-ins and my answer is simply
that asking what's the best plug-in is like asking is a 38 R suit
better than a 44 tall. Well, it depends on who you are and what your
size and style happens to be. No one has invented a one size fits all
suit yet either.
Good luck!
JO
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Buy Ink Cartridges or Refill Kits for Your HP, Epson, Canon or Lexmark
Printer at Myinks.com. Free s/h on orders $50 or more to the US & Canada.
http://www.c1tracking.com/l.asp?cid=5511
http://us.click.yahoo.com/sOykFB/k9VGAA/ySSFAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
Metastockusers-unsubscribe@xxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|