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Jerry
If I could make one suggestion that helped me. Test a lot of the systems and
examine them for draw down etc. I spent three days solid doing this in act
of desperation. Ask your self if you would have kept going with the system.
Check out the stop loss area especially as this is very revealing for what
is most profitable and most likely to happen. Get used to candlesticks.
Look only at volume and price to start with. Don't mess up your charts.
Cover the right hand side to see if you would have seen the drop or rise. If
you buy an add on get Nissan Candlesticks for help in the beginning. Examine
many many charts looking for support and resistance. Study mainly US charts
as they are more liquid. You could actually say that most CDN companies are
small cap. Finally paper trade 1000000 for about 5 years until you have a
winning system.
Martin Blain
Burlington Ontario
----- Original Message -----
From: "jmj951" <jmj95@xxxxxxx>
To: <Metastockusers@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 20, 2004 9:09 PM
Subject: [Metastockusers] Re: How to Build a Trading System without Lace
>
>
> Are you able to show the red and green arrows with Meta stock, with oe
> of their systems?
> Jerry
>
>
> --- In Metastockusers@xxxxxxxxxxxxxxx, "superfragalist"
> <jackolso@xxxx> wrote:
>>
>> For those of you who can't read my posts because of my caustic wit
>> and dry sense of humor, not to mention insulting all groups
>> simultaneously, here is a step by step guide to building your own
>> trading system. (I am removing the pearls from the pig pen so that
>> more people may enjoy them as jewelry! However, there is an art to
>> simultaneously insulting so many with so few words. I do not intend
>> to bury that skill.)
>>
>> Let's us begin.......
>>
>> Read all the articles under Trading as a Business
>>
>> http://www.elitetrader.com/tr/index.cfm?s=17
>>
>> The articles will teach you step by step how to build a trading
>> system.
>>
>> John Clayburg's book Four Steps to Trading Success will show you how
>> to setup a simple indicator system that is among the best there is.
>> It will serve as your basic trading system. It works on all stocks,
>> in any time frame and has no curve fit. Then you add your favorite
>> filters to it.
>>
>> In Roy's newsletter he is building one of the best filtering systems
>> there is. It's a great newsletter for teaching MS coding and systems
>> building. It's only $99 a year.
>>
>> www.metastocktips.co.nz
>>
>> That should be most of what you need to get started and keep you from
>> getting too far off course. Oh, I would also add a 20 bar SMA to the
>> chart because price often regresses to the 20 bar SMA.
>>
>> If you absolutely feel the need to have red and green arrows that
>> scream buy me now, you can use a program like ICE, or the simple
>> systems from Performance Systems Plus. Just remember, any "expert"
>> system is going to generate a lot of false signals, so your other
>> basic buy sell indicators like the Clayburg's and Roy's filtering
>> technique Rule. (Especially Roy's noise filter. I would have paid
>> more than $100 for that alone.)
>>
>> Once you have done this, you will find the system you have built will
>> match the recommendations in the article, and there really isn't
>> anything any better out there for you to start with. You can trade
>> with it without losing your rear.
>>
>> Oh, I almost forgot. Does it come with an exploration. No, it
>> doesn't. But that's not a factor.
>>
>> You really should trade from a fixed group of stocks in my humble
>> opinion. VERY few people have found success searching 7000 stocks a
>> night for the one's that have the little green or red arrows popping
>> up. It's better to use a pre-screened group such as the S&P Platinum
>> Portfolio or the Valueline T1 stocks or the IBD 100.
>>
>> If you don't want to use those, then scan by HAND every night a set
>> group like the S&P 100 or 500. You really do need to look at all
>> those charts by hand because you need to see where in the cycle each
>> stock is and what it's chart looks like. Nothing beats learning to
>> read charts, and exploring every night just won't teach you how to do
>> that. If you insist on having stocks that meet a certain criteria,
>> learn to use Marketscreen.com. Yes, my brothers and sisters, you have
>> to pay for it but it's a much better exploration system than you'll
>> ever get with TA in a box like MS, and it's already programmed for
>> you.
>>
>> You also need to learn to use secondary entries because a stock that
>> is already trending has a better probability of continuing to move up
>> than a stock that has it's little red or green arrow showing. And
>> please remember---resist the urge to trade against the overall market
>> trend. The trend is your friend!
>>
>> What does a secondary entry mean? Well, if you open a chart and the
>> Clayburg are passed their intial buy signal and the stock is showing
>> a trend with Roy's filter, if you buy it even though it's passed it's
>> intial entry point, you stand a very good chance of making money.
>> When the Clayburg's and Roy's filter tell you to sell it, you follow
>> those indications no matter what your intuition tells you, or what
>> the little green and red arrows are doing.
>>
>> Okay, those are my small contributions for those of you who wish to
>> have a trading system but don't know how to create one. You are
>> probably still grasping at straws, which you won't have to do any
>> more thanks to uncle Super.
>>
>> Are we all feeling like good dobee's now?
>
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