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Re: [EquisMetaStock Group] How to Build a Trading System without Lace



PureBytes Links

Trading Reference Links


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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