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metastockuser,
Am i right in thinking you use TrendMedium for
stocks only?,
Peter
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>
----- Original Message -----
<DIV
>From:
<A title=metastockuser@xxxxxxxxx
href="">metastockuser
To: <A
title=equismetastock@xxxxxxxxxxxxxxx
href="">equismetastock@xxxxxxxxxxxxxxx
Sent: Tuesday, February 17, 2004 12:21
AM
Subject: [EquisMetaStock Group] Re:
MetaStock Plugins
--- In <A
href="">equismetastock@xxxxxxxxxxxxxxx,
"stevendecanio" <sdinc@x...> wrote:>
Can anyone offer some feedback (positive or negative) on any of > the
plugins offered by Equis? The write ups on them make them > sound
easy to make profitable trades.... Any info or experiences >
appreciated. Thanks, SteveA couple of comments.
Trading in general is more about the individual than the tools
heuses. Once you know how to trade, you can probably use just about
anytool out there to trade with. I think that's a dirty little
secretpeople don't often talk about.In buying Metatock you were
searching for charting software and toolsto give you a statistical
edge. All you need is a statistical edgeand to combine that with the
basic disiplines of a trader to make money.So, the tools are not the
end all be all.About plug-ins. I have three.1.
TradeSim: The metastock system tester has some issues I wont
gointo. So I purchased a third party system tester to help
out. I likethe fact that Tradesim makes it so easy for me to view
the drawdownthe system creates and other stats. It also has far
greatercapabilities then the metastock tester. The drawback?
This requiresyou to create "trade data bases" using very specific language
that isboth in Metastock and some unigue to tradesim. It has a
pretty largemanual that you would have to print up and deal with.
Since I am avery very poor programmer, this was a real challange to get
past.2. ICE: Ice is easy enough and it going to get
better. It allows youto optimize all existing tools in Metastock
that are reasonableagainst any stock or index you want to trade. It
does that by settingup optimization simulations within the Metastock
system tester. Youcan select all the optimizations in a single
family of indicators andrun that family against a stock. Then dig
through it to see whatlooks good to you. Once you find several
divergent indicators thatlook good it's up to you to figure out how to mix
and match them tomake a good system. Ice also has a formula tool due
out this month tohelp with the nasty task of setting up formulas for the
optimizationyou like. The formula issue is a big deal with me so I'm
lookingforward to this upgrade with is free to those who already own
ice.3. Trendmedium. It's a one shot pony. I like it and
use it for a fewsystems. But I think it's nothing more than
complicated movingaverges optimized massively. From my testing it appears
you can use itto develope a statistical edge, watch out for the
drawdown. I tend towander outside the presets. In fact I'll load a
ticker up 25 or moretimes and set up a broad range of settings for
trendmedium to use init's optimization process. I then run the
results through my thirdparty software looking at drawdown, annual
returns, etc.This is how I play a traiding system. Lets say
I develope a tradingsystem. I may even backtest it and know it's
drawdown, optimize it toreduce drawdown. Often drawdown is still
more than I like.So when I get a "buy" from a system I take that as a
"suggestion" tobuy. My next step is to look at the chart and look
for trend, supportresistance. If the "Buy" is up against resistance
or a downtrendline...I wait a day or two to see if resistance can be
crossed. If Itake the buy, these days I tend to use the ICE trailing
volatilitystop loss in nearly every system I trade. Even for pattern
plays. Every system I ever built would put some buys in
obviously poorplaces. A quick glance at a chart should be able to
tell you if thereis reason to take the buy, wait a day or two on the buy,
or forget thebuy. So I'm not a pure system trader. And I'm not
particularlyinterested on becoming a great system builder. My goal is just
to beatbuy and hold. I'm not worried that my "systems" may not be
the bestsystems out there. You don't have to have the best system
out thereto make
money.
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