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Good point.
However, if one is serious about trading, consider applying your
system signals to a 3:30pm market data snapshot, and entering before
the close of that day.
jose '-)
--- In equismetastock@xxxxxxxxxxxxxxx, "Andrew Tomlinson"
<tomlinsons@xxxx> wrote:
> Gradually getting through the articles, which I do find well-
written. I do
> notice that in his discussion of types of trading strategy his TS
formulae
> assume entry on same day as the signal is given. Apart from being
physically
> impossible for EOD traders, new system testers should be aware that
an entry
> on the next day's open is much more realistic.
>
>
> -----Original Message-----
> From: superfragalist [mailto:no_reply@xxxxxxxxxxxxxxx]
> Sent: Wednesday, October 20, 2004 7:31 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] How to Build a Trading System
without Lace
>
>
>
> 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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