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Re: [Metastockusers] Re: looking for tips, tricks, and secrets on MS

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i think it is ienvitable notto agree with you. these are exactly the same things that i offered in my newsgroup. i have been a fundamental analyst before but in time i switched to technial trading. it saves much more time and you can do engineering on a system easily, besides it is used more in foreign markets (larger the market more technical it is)
 
i visit barnes and noble and borders. i came across martin pring, dr elder, bollinger but not the ones you mentioned. can you give these ames more specifically so that i can search about those guys.
 
i suppose the fashion these months is swing trading. almost all the books mention swing trading and cycles. none of them explains exacty what parameters they use market specifically. yeah, one may say that it depends on your trading rate, but still i believe there may be some optimized numbers that clustering occur around..
 
good luck
 
 
 
 
 
----- Original Message -----
Sent: Sunday, January 16, 2005 11:33 AM
Subject: [Metastockusers] Re: looking for tips, tricks, and secrets on MS


Same question, different presentation. Send me all of your stuff that
works, please. No, I don't think I will. 

Sign up for Roy's newsletter. It's the best.

www.metastocktips.co.nz

Here's a repeat of a post from the other site. Pay attention to the
part about reading every trading book you can buy. No single guru or
trading book has the answers. You have to read a 100 of them and then
create a system that fits you from what you've learned. There is NO
short cut--other than losing all your money. That's the fastest way
to learn how to trade.

You should also pay attention to the paragraph about who to listen
too. That's an important issue.

I know this answer is not what you want to hear, but rather than
reading a bunch of my posts on this and other sites, the better thing
to do is to start reading some of the system's development books that
will really answer your questions. Setup a reading schedule, consider
it your graduate education in trading. That will benefit you a lot
more in the long run. You will get a bigger return from your book
investment than you will get from your trading.

For example, rvalue just brought up the issue that stops reduce
profit. There's no quesiton that in most cases that's true, but it's
not true with all stops and in all cases. Different types of stops
are used in different circumstances. You can learn about this from
guys like Thomas Stridsman, LeBeau and Chande and others.

I have two stops on my trading screens, one is based on Chandelier
exits and one on adaptive ATR stops. The Chandelier stop is tighter
and adaptive ATR is somewhat more relaxed. Which stop I take depends
on the market conditions at the time. You can't program that into a
systems tester. However, when I use the adaptive ATR stop in the
tester the profitability of the system goes up so why wouldn't I
follow it exclusively? Market conditions!

I can't possibly explain enough about using stops in a couple of
short posts to teach anyone anything that will save their butts. I
learned the adaptive coding from Perry Kaufman and the Chandelier
methods from LeBeau. It took awhile to get it right, and it didn't
come from a post or two. Both methods use the ATR but there is a huge
difference in how they use it.

Andy asked the question about support and resistance for setting
stops. You can do that, some people advocate it, but it will cause a
lot of traders to go broke because they are not stopping out when
they hit the maximum loss they can afford for the size of their
capital account. (preservation of capital is more important than
profit) In addition, you can't get two people to agree on where
support and resistance is at on a chart.

Rvalue says stops reduce profit--as I said in most cases they do, but
they keep you in the game. Using a very, very large stop is called
buy and hold.

Boards allow many, many people to express their opinions.
Unfortunately most of the opinions are not backed up by any education
or substantive facts, so they are of little value, and at the worst a
lot of them are down right wrong. So I wouldn't come to a chat board
to learn anything. I would go to people who actually have to depend
on what they do to make a living. I don't mean the people who want to
sell you their trading systems and seminars. I'm talking about people
like Kaufman and Stridsman who develop systems for a living and share
they knowledge of what works and what doesn't in their books.

I often hear people say that they can't afford to read the books, or
they don't like reading, etc. Well, if you lose $20,000 trading, how
many books could you have afforded.

You can get your degree from Harvard night school for less than
$40,000 (night school doesn't have the entrance requirements like the
day program so that's not an excuse, and the diploma doesn't say night
school). How many people would do that as compared to those that have
lost more than that amount trying to trade. It's ridiculous how high
the cost of ignorance is.

When I was first starting in the investment business, I had a friend
who had been in the business for many years and was very successful.
He told me that if you asked 100 people if they wanted to be rich,
99% of them would say yes, but only 1% would be willing to do what it
takes. He was dead ass right!







--- In Metastockusers@xxxxxxxxxxxxxxx, adnan alsmail <adnanksa@xxxx>
wrote:
> Hi all,
> I am new member to your group, and I am trying to
> educate myslef and learn more on Tehcnical Analysis
> (TS), Metastock (MS), and successful trading system.
> So far I have read a lot on TS and started to use MS.
> Though, I want to learn from the experts in this group
>  some tips and tricks on the TS and MS, and which
> trading techniques that worked with them.
>
> I would apprecite it if you either share with me your
> expeirence or direct me to the best sites which could
> help me sharpen my skills on TS, developing uccessful
> trading system, and/or utilizing the features of MS.
>
> Thanks in advance for your help and your help is
> appreicated.
>
>
>
>            
> __________________________________
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> Yahoo! Mail - Easier than ever with enhanced search. Learn more.
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