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Dear Super,
I can categorically assure you that the only thing
I have in common with Jeyns. apart form the same forename, is that I earn
my living from trading. Not sure that I could call myself professional insofar
as I don't sell my services to others, albeit, I did get very close to starting
my own fund 18 months ago. It may be useful to give a bit of
background. My background is that I got interested in the stock market at
university. After university I joined a v. large oil company - the one that had
reserve problems recently.
Until I started paying school fees, I used to trade
on my own account quite aggressively - earning approximately half my salary from
the markets. I then traded special situations for a number of years. Anyway, in
work terms I was on the trading management team for a number of years.
Quite interesting, in emotional terms, holding a 10 million barrel position
tends to concentrate the mind. One tick on the screen is a Ferrari either
way. Sadly, when one is enjoying oneself and doing well, one tends to be
promoted. So after a series of more responsible but increasingly uninteresting
jobs I left the oil company to trade on my own account about five years
ago. I found the emotional issues of trading ones own money day in day out
hard to get to grips with - even after years of saying if this was my own money
what would I do.
I use a number of different bits of software and
techniques. My main activity is futures trading. However, of more relevance to
this board is that I use Cynthia Kase's ideas quite a bit for position
sizing and stop placement in CFD trading. My portfolio management stuff
dates back a long way - to some of the early work on the efficient frontier by
Jensen and King. What I do in hard code can probably be done in a spread sheet -
tempus fugit. Directionally, I'm looking to do more with CFDs and less with
futures.
Getting back to the Newsletter. Over the last
thirty years I have bought more books than is good for me. Every time, I read
one I say this is the last "how to" book I'm ever going to buy. I bought
a book on pairs trading the other day - it was quite clear that the guy who
wrote it either knew very little about arbitrage or was being deliberately
obstructive - hence my cynicism.
This no slight on Roy, I recognise that the
partial newsletter is a marketing decision. Clearly, he demonstrates his
ability day in day out.
I'm sure the newsletter will be the next
"how to" I purchase.
Yours (having no relation whatsoever to
David Jenyns
Professional Trader, Author,
MetaStock Coach!)
DJ
----- Original Message -----
Sent: Monday, April 04, 2005 2:26
AM
Subject: [EquisMetaStock Group] Re:
Metastock Add-Ons and Plug-Ins
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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