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I tried out another plug-in yesterday. It's the Performance Systems
Plus plug-in, which is a collection of experts that didn't come with
Metastock.
First off, none of these are a complete trading system. They're open
code experts that are based on a variety of indicators. The way I
tested them was the same way I test everything else. I compared them
against the system I use for benchmarking, which has produced the
best results of any system I've tested so far--an that's a lot of
systems. After that test, I eyeball the three top performers on a
chart.
All of the experts were tested on a handful of stocks. To really find
out what an expert can do, you should create an exploration that
searches for stocks that fit the criteria of the expert. Then you
test the expert against a benchmark system using the stocks that the
expert picked. The reason I didn't do that is I don't have time to
test 54 plus experts one at a time with an exploration for each.
If you only trade from a small stock pool, then it's also appropriate
to test against those stocks to find out which expert system works
best with that pool of stocks.
Many of the experts can be tweaked, combined with indicators, or have
addtional code added that improves their performance. I tested one
expert that fell short of the benchmark by 50%. I made some
modifications to it and the performance improved to 75% of the
benchmark. I realize that may seem like a lot of performance
difference, but in actual trading with indicators and human
judgement, the spread would narrow considerably.
So what's the bottom line: Basically, if you don't already have a
trading system developed this isn't a bad plug-in. In addition, with
the open code, it lets you see a number of examples of coding and how
to approach things. You can change the code, as I did, or you can run
optimizations on the variables to optimize the code specifically for
your stocks.
Again, none of these experts make up a complete trading system, but
you could build a trading system from some of the code in the
experts. Bressert's is the only plug-in I have (I haven't tested all
of them but almost) tested that is a complete trading system, and the
results from it were very close to my benchmark system. That says a
lot for the Bressert plug-in. However, Bressert is not for everyone.
You actually have to read the manual and study what he's doing.
There's a learning curve.
This is my opinion, it's not gospel, and for those
of you who are paranoid that everybody that says something good about
Equis, or one of their products, MUST work for them. I don't, I won't
and that's the end of the story. Get it!
Sorry I have to repeat this, but---Don't email me and ask me to share
my system. You already know the answer to that, and you have nothing
to trade that I'm interested in, period, so forget that one too!
Unless you can get Sandra Bullock to marry me (without pre-nups
please), there's nothing I'm interested in. According to the System
Tester there's a zero probability that will happen, so don't waste
your time.
Speaking of wasting time, Marshall is already working on the Bullock
thing. He's so far ahead of you, none of you have a chance of
catching him, so don't bother.
JO
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