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Peter, keeping it simple is important but so is clean data. By your
description of preservation of capital and saving a few bucks on
data, you have a nice hobby, in which case I agree you should save
the money on the data.
Jose's perspective, like mine, is based on professional trading where
the quality of the tools is very important, testing is necessary and
opinions without facts don't count for much, except at lunch--after
the market closes.
Professionals don't get paralysis of data analysis. They analyze to
understand, and they understand what they analyze.
Having a hobby is good too.
--- In equismetastock@xxxxxxxxxxxxxxx, "Jose" <josesilva22@xxxx>
wrote:
>
> 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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