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Another DJ publishes a metastock programming guide and worthless
newsletter. His book unfortunately is basically a repeat of the MS
language primer that anyone can get for free. You spell your name
differently so I don't want to confuse the other members.
David Jenyns
Professional Trader, Author, MetaStock Coach!
That DJ publishes the book and has posted phony messages to this board
trying to mislead people into buying his book. I guess he's not very
popular. In addition, he's tried to mimic and copy some of Roy's
keywords so web traffic would be directed toward his site. Nice!
As far as sample issues go, when Roy first started publishing MSTT he
only had a couple of issues so he couldn't send out a complete one as
a sample, or there would have been little reason to subscribe.
In addition, each issue has a lot of code in it and all the code is
vetted and tested before publication. Many, many hours of work go into
each issue in code alone. I can understand why Roy was reluctant to
simply give that away to anyone who wanted it.
Most newsletter simply pick stocks. They don't tell you much about how
they picked them. In Roy's newsletter, everything is revealed and
given to you.
Next year after Roy has about a year and a half of newsletters out,
he's going to give people the first issue as a sample.
You can wait awhile longer and then you'll be able to get a complete
sample issue.
--- In equismetastock@xxxxxxxxxxxxxxx, "David Jennings"
<david.d.jennings@xxxx> wrote:
> I have to say I've made, and continue to make, good money from
Murphy's CPR, but would agree with you that I have filtered out a lot
of signals in code/ by eye. I'm sure that most of the breakouts I've
traded could have been spotted by other means - but CFD trading is
only a part time activity.
>
> I bought a number of other plug-ins on Ebay(caveat emptor) The only
one that appeared to show any promise, imvho, was AlphOmega. However,
the software didn't come with a password, so can't hack into it so it
doesn't give me any useful signals in an exploration. The reason I
haven't junked it is that the Wolfe Wave is a low probability - very
high reward pattern I like to trade. However, I tend to spot these
opportunities after the event. If anyone has a password they are
prepared to send I'd be much obliged so that I can junk this one as well.
>
> I know it sounds churlish but the reason I've not put my hand in my
pocket as a purchaser of the newsletter is one only gets part of a
newsletter and not the full thing. So I regularly walk away, with the
nagging question, why only part of the document and what is being
hidden? Let's be clear, it's not the purchase price, but most vendors
give you a trial copy of their publication to enable one to form a
rounded judgement.
>
> DJ
>
>
>
> ----- Original Message -----
> From: Andrew Tomlinson
> To: equismetastock@xxxxxxxxxxxxxxx
> Sent: Sunday, April 03, 2005 11:32 PM
> Subject: RE: [EquisMetaStock Group] Re: Metastock Add-Ons and Plug-Ins
>
>
>
>
> I have PowerPivots, Murphy's Chart Patterns, Nison's Candlesticks.
I didn't
> use any of them for more than a couple of weeks.
>
> PowerPivots looks great but doesn't seem to do much at the right
hand edge
> of the chart - some hocus pocus going on there?
>
> Half the chart patterns that the Murphy software pulls up look
like a dog's
> breakfast - nothing like most of the patterns you expect to find.
I don't
> think the coding is yet sufficiently developed to do this
effectively. If
> you're interested in chart patterns, read Edwards & Magee, read
Murphy, take
> a look at Bulkowski - but don't expect to get anything you can
backtest.
>
> I found the Nison program the most interesting - the candle
patterns are
> much more precisely defined than in thee Metastock defaults, and its
> interesting to see where he puts his stops and price targets. If
you're
> interested in working with candles then its worth a look, but once
you've
> got the idea (an afternoon) there's nothing you can't do yourself,
assuming
> you've read the books (and you should). His tapes are worthwhile
if you can
> get your hands on them for a sensible price.
>
> My understanding is that the Bollinger add-on just gives you the
formulas to
> go with the book - again, if you read the book and get yourself
some basic
> Metastock coding skills, nothing you can't do by yourself.
>
> I would second superfrag on this. Get the formula primer and work
through it
> (available on the home page for this forum or from equis) and then
get Roy's
> newsletter. The price to useful information ratio is way better than
> anything else out there. I just wish it had started a year earlier
so I
> could have saved the $1500 or so that I spent on other Metastock
"guides",
> most of which just paraphrase the manual.
>
> I would be interested to hear if anyone is making good money from
any of the
> add-ons. All I know is that they didn't work for me..
>
> Happy trading
> Andrew
>
>
> -----Original Message-----
> From: superfragalist [mailto:no_reply@xxxxxxxxxxxxxxx]
> Sent: Sunday, April 03, 2005 6:05 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Re: Metastock Add-Ons and Plug-Ins
>
>
>
>
> I don't mean to sound like a broken record, but I've used and/or
tested
> almost all of the plug-ins and none of them are very good in my
opinion,
> especially for a longer term investor. I've benched marked the
plug-ins
> against all of the systems I use daily, so I know how they perform
against
> my standards.
>
> The only one that's worth much is Bressert's, but it's really
designed for
> day trading. It can be used EOD also.
>
> Trade Oracle is almost the same as Performance systems but it has
more gloss
> on it. It's a lot of small formulas that catch an entry here or
there. Even
> though the formulas are simple, some of them work okay. As far as
exits go,
> there's nothing in there I would bother with. Trade Oracle has the
best
> front end of any MS product. Some of it is better desgined and
programmed
> than MS itself. It also costs nearly twice as much.
>
> AlphOmega is Elliot wave wanta be stuff, but I think it uses peak and
> through functions, which create their own problems.
>
> Chart patterns is so, so. Most patterns aren't reliable for a long
term
> trader. Some chart patterns in general seem to work okay, but I've
found
> higher probability ways to trade so I don't bother with too much
searching
> for patterns.
>
> Bollinger Bands was the least effective of the ones I looked at,
at least in
> my opinion. Candlesticks is okay, if you like candle sticks. But
there is no
> magic in there. Power Pivots is more peak and trough functions.
>
> ICE is good for developing symbol specific systems. Most people
who buy it
> don't know how to use it properly. If they did they'd get much better
> results. It's best for a trader who doesn't know anything about
systems
> development but wants to only trade a small group of stocks. I
like ICE
> because it will force you to struggle through systems development
exercises
> until you learn about systems development--well, some people will
learn!
>
> Trend Medium is curve fitting but on a daily basis. ETS is one I
haven't
> used--and I don't think many other people have either. MetaMarket
is so low
> on the fundamental analysis scale it doesn't register as far as I'm
> concerned. SpyGlass is a mish-mash of old tools.
>
> Now for the broken record part. The absolute best add-on you can
get for MS
> is Roy's newsletter, even if you don't want to learn to program
your own
> functions. www.metastocktips.co.nz
>
> Roy realized from the beginning there was a limited market for
programming
> education so he added a lot of information on the systems tester,
> explorations and now a trading series.
>
> I've tested and traded everything that's going into the first
trading series
> from Roy. In my opinion, all of the techniques in MSTT produce better
> results than the other MS plug-ins and add-ons. The April and May
issues
> have some of the best information on trading using TA that you're
going to
> run across--well, again I should say, it's the clearest, most logical
> trading information I've run across. Someone else may have better
stuff so
> if they do, I wish they would share it with Roy's subscribers so I
can get a
> chance to test it.
>
> Most people who try to use TA go off on an indicator fascination
trip trying
> to find the one or two indicators that work in every market and
find the
> best entries. That's a wild goose chase. (grail chase)
>
> Using TA to trade stocks is not that difficult, if you understand
a few
> fundemental things and you use the right strategy and approach to
markets.
> Most people don't. They start out thinking that TA is some magic
bullet
> that's going to make them rich. Or that a specific indicator is
going to
> tell then when to buy and sell a stock.
>
> After a couple of years chasing their butts, they figure out that
they've
> missed the boat. Some get lucky and stumble on something that
works okay for
> them, but most spend thousands of dollars listening to guru's fill
their
> heads full of crap, and then they still don't make any money. The
statistics
> that say that 95% of TA users and want-ta-be traders fail is true.
How can
> so many people be chasing the wrong stuff.
>
> Based on my experience, what's wrong is not TA itself, but the
strategy and
> approach newbie's take trying to figure out what to do with it.
Why do you
> think that MS DOES NOT come with a template that allows everyone
to make
> money as soon as they install MS on their computers? Because there
is no
> such thing, so Equis can't sell it to you.
>
> Making money using TA is not about having the right indicators,
the right
> plug-ins, the right guru chart setups--it's about how you see the
markets
> and understand what works and why it works and when it works.
>
> The reason I keep recommending Roy's newsletter is because it's has
> information in it that will change the way people see trading. It
will open
> their eyes to how money can be made on a consistent basis.
>
> At this point, the skeptics are going to say, well if the stuff in
it works
> so well, why doesn't everyone use it. The techniques in Roy's
newsletter are
> simple. Some people like simple, some people don't. Some are happy
making
> 80% of the maximum amount they could make without having to become
a full
> time student of TA and get a Ph.D in trading. Others want to move
beyond the
> 80%, and they feel they're willing to pay the price to get there,
or at
> least lose everything trying.
>
> That's fine. You only have to ask yourself a simple question--is
what I'm
> doing working or not!
>
> If it is: keep doing it. If it isn't, the cost of Roy's newsletter
is an
> inexpensive way to learn a lot of new stuff you didn't know and
get a chance
> to experiment with simple instead of complex. If it works for you
then it
> was worth many, many times it's price, and if it doesn't, it was
cheaper
> than a bunch of plug-ins that you have to sell on ebay.
>
> Yes, it has coding instruction, indicators, system tester
information and
> explorer information in it, so everyone can get something useful
out of it
> to apply to their trading. However, what I think is the most
useful part of
> the newsletter is the way it will change people's view of trading
and could
> help them find a strategy that's comfortable, consistent and easy to
> execute.
>
> The April and May issues are going to consolidate many of the
things that
> have been said in back issues to this point. Then from June
through the next
> few months Roy is going to have articles telling you how other
traders do
> things so readers can contrast other's trading methods and find
what works
> best for them.
>
> Rather than give Equis $250 or more for plug-ins you're not going
to get
> anything out of, you be far better off giving Roy $180 for 18
months worth
> of learning about how use MS to make money.
>
> For those of you who are tired of hearing me say Roy's newsletter
is an
> important tool for learning to trade, sorry I bore you. I guess
you should
> stop reading my posts.
>
> If you're a subsriber, you know why I keep posting these messages,
and after
> May you'll feel even better about where you are and what you've
gotten.
>
> Maybe someone else will give you some feedback that one of the
plug-ins is
> the cat's meow when it comes to trading. I don't know.
>
> Have fun!
>
>
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "calc103" <calc103@xxxx> wrote:
> >
> >
> > I have Metastock 8.0. I have been learning the system through
> > Metastock Programming Study Guide. I am a buy-and-hold trader.
> >
> > I am prepared to purchase three Metastock Add-On or Plug-Ins.
> >
> > Which three would best suit my purpose?
> >
> > Thanks for any advice.
> >
> > calc103
>
>
>
>
>
>
>
> Yahoo! Groups Links
>
>
>
>
>
>
>
>
>
>
>
>
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