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Peter, you use "a few moving averages, maybe an RSI and MACD..."
Bad data can and will give you drastically different MA/RSI/MACD plots
from the norm. For example, a moving average based on a stock's
unadjusted price after a split, will give massively different and
erroneous results.
> I do have another data supplier (which I pay for BTW) for another
> software programme I use and have NEVER found any difference in the
> end of day data v the FREE data I get for Metastock
If you can find no difference there, then I suggest that you save your
money and ditch your current data supplier, whose data source is
probably also a free one.
> my "simplistic "trading strategy"" generally returns between 30 -
> 50% per annum on average. This year I expect it to be closer to 60%
> return.
If you can do this year in and year out, then good for you.
A simple buy & hold strategy can also generate similar results.
The big question is the drawdowns in between.
There is more to successful trading/investing than the profit bottom
line, such as capital preservation. If one's trading capital is
important, then a few bucks a year for reputable data is a small price
to pay for peace of mind.
jose '-)
--- In equismetastock@xxxxxxxxxxxxxxx, "pjonz2002" <peterorr@xxxx>
wrote:
>
>
> See, I told you this would happen.
>
> So Jose, I couldn't agree with you more... IF... I were interested
> in system development.
>
> Paralysis by analysis has killed off many a new budding share trader
> in the past (myself included many years ago).
>
> I have since used the KISS priciple... a few moving averages, maybe
> an RSI and MACD which gets the analysis done very quickly and gives
> me time to invest early for more profit instead of analysing the
> crap out of the stock. I tend to stay in the trade longer these days
> also.
>
> As for technical analysis... its like any mathematical formula...
> you can make it show what you want to see simply by changing the
> parameters. This is far too advanced for a new investor hence my
> advice of free data and a simple system to follow to get him
> started.
>
> If he wishes to tackle writing his own systems at a later date then
> OK.
>
> I do have another data supplier (which I pay for BTW) for another
> software programme I use and have NEVER found any difference in the
> end of day data v the FREE data I get for Metastock (other than the
> extra two hours each day I have to wait for it to be adjusted).
>
> Just one further note:
> my "simplistic "trading strategy"" generally returns between 30 -
> 50% per annum on average. This year I expect it to be closer to 60%
> return.
>
> Just imagine what I'd get if I was good at this?
>
> Peter
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "Jose" <josesilva22@xxxx>
> wrote:
>
>
> Your comments show that you have little or no idea as to the real
> purpose for accurate data. Error-free & adjusted data is
> absolutely essential for system development, and has little to do
> with actual trading.
>
> As for your simplistic "trading strategy" advice - it also shows
> an absolute lack of comprehension as to what is involved with
> trading in the real world.
>
> Your Yahoo data downloader may be fine for weekend hobbyists, but
> it is far from a serious adjunct to system development.
>
>
> j.
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "pjonz2002" <peterorr@xxxx>
> wrote:
>
>
> > > Hi Jerry,
> > >
> > > Below is an email for the latest version of Smart Downloader, a
> free
> > > software add on for metastock that gives you access to free
> data.
> > > I've used yahoo for more than a year now with no issues to note.
> > >
> > > Ignore the comments of "you get what you pay for" because they
> are
> > > either selling data or needlessly paying for it.
> > > When you are using end of day data you'll only be buying and
> selling
> > > at irregular intervals. It may be months/years between a
> purchase
> > > and sell if you've picked the right stock.
> > >
> > > Only keep between 6 and 10 stocks, have no more than 20% of your
> > > bank in one stock (adjust 2 times a year) and allow no more than
> 2%
> > > of your total bank as a stop loss. eg $10,000 total bank would
> be
> > > max loss on any stock $200.
> > >
> > > Large diversification of funds is the reason for losses not the
> > > prevention of same. This is why you should have no more than 10
> > > packets.
> > >
> > > If you've made more than 10% profit in a month... put in a very
> > > tight stop and sell as soon as it breaches. No stocks can
> maintain
> > > this growth for long... 150%+ so they are going to drop quickly
> whan
> > > others sell. You can always buy the back when the rise again.
> > >
> > > Hope this helps. Smart Downloader Email to follow.
> > >
> > > Cheers
> > >
> > > Peter
> > > Auckland NZ
> > >
> > >
> > > Dear Free Tools User,
> > >
> > > Equis Smart Downloader 1.0.0.36 v2005 is available to download.
> > >
> > > What's new:
> > > A. Optimized code on WinXp SP2 and Win .NET B. Optimized Yahoo
> and
> > > MSN Datafeeds
> > >
> > > In order to download you need to be registered and logged on our
> > > Forum http://forum.hypertrader.ws
> > >
> > > More detail and additional information are available at:
> > > http://www.hypertrader.it/sdownloader.shtml
> > >
> > > For update correctly to new version, is required to uninstall
> the
> > > version in use, before to start the new installation.
> > >
> > > If you have any questions do not hesitate to contact us
> immediately.
> > >
> > > Yours Sincerely,
> > > HyperTrader Tech. LLC
> > >
> > > ***********************************
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