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Just to make sure non-subscribers to MSTT are not getting the wrong idea,
many people (including me) use Roy's newsletter primarily to learn to code
Metastock better. That to me is much more important than yet another fancy
indicator, and is the key to what Roy is providing as far as I am concerned.
I make a rule that if I don't understand the math of an indicator completely
and intuitively, I don't use it, so that rules out a number of the items
that have been mentioned. But if I can learn to code MS faster and more
efficiently, then over time that's priceless, as it will let me backtest my
own ideas with confidence - if you teach a man to fish, and all that.
Oh, and while I'm up on the soapbox, and in the interest of maintaining
diversity of expression in these discussions, there are plenty of traders
working with 100% mechanical systems who make money. If you want to use one
type of model in one type of market then you just write in a trend filter.
If you have to guess whether the market is going up before you use your "up"
model then you're a discretionary trader (yes there are lots of them too). I
lost about 25% of my equity doing the relative strength type trading that
has been promoted aggressively here over the last few weeks. I'm now
rebuilding my equity quite successfully with mechanical systems of my own
devising. Horses to courses - everyone should find a trading method that
works for them. And resist the temptation of calling everyone else idiots.
Although the more people who trade that way the better for the rest of us,
so I guess I should shut up now....
Happy trading - oh, and by the way if you haven't been making thousands of
dollars on the advice in Roy's letter, then don't worry. You're not alone.
And you're not a moron. Roy's newsletter isn't snake oil. It's just being
marketed like that by some people on these forums (not you metastkuser - I
kind of used your thread to let off steam so I wouldn't just walk away from
these forums all together).
Andrew
-----Original Message-----
From: metastkuser [mailto:andysmith_999@xxxxxxxxxxx]
Sent: Monday, March 14, 2005 6:29 PM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group] Roy Larsen's Newsletter -- an honest opinion
I'd like to put in my 2 cents about Roy's newsletter and offer my own
experience as someone new to this field who has closely followed his
newsletter (and this message board).
I've read and re-read every one of Roy's newsletters. Each one presents a
goldmine of information each time around. If you implement the amazing B&Q
indicators, the DCF, the noise filter, use an RSC methodology (with a tool
such as Jose's uRSC), use MAs to guide you on weekly and daily market bias,
accept the importance of always letting the market bias dictate your trading
strategy, trade from a prescreened list, understand sector rotation and take
a top-down approach to trading -- just like it says in quite some detail in
Roy's newsletter -- you will be a better trader, period. At a minimum,
you're going to better off simply because each of the steps I just mentioned
skims a few probability points in your favor. And you can augment all of
this with additional reading over time. I believe I am identifying (and
trading) some much higher-than-average probablility trades than many traders
out there thanks to what I have learned from Roy's newletter. Keep it coming
Roy.
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