[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

[EquisMetaStock Group] Re: system tester shortcomings...



PureBytes Links

Trading Reference Links

Preston and Super

With big apologies to Roy, who I do not wish to draw into this.  My
point is not really Roy's track record, nor do I wish to for him to
justify himself.  My point really refers to supers comments in post
18139 and his general tone that so many of the gurus out there
actually do not know what they are talking about since they are not
trading or would not make it if they were.  I actually agree with this
to some extent, but I think even they can contribute.  I think we can
learn from a person who knows how to present a good seminar, even if
he never touched the markets.  It seems super thinks we should 'wake
up' and run away from the so-called experts.  I also quote from one of
his most recent posts:

..................
Over the years I've met a lot of people involved in this business and
the overwhelming majority of those who make a living from the trading
business don't trade, including the gurus. To me that's somewhat of a
problem if they're going to be giving trading advice and selling
trading products
..................

Yet super makes no secret of promoting Roy's work.  What I am saying
is that what is good for the goose is good for the gander.

Personally I really can see the value that Roy can add, but, using
super's own yardstick, I'd have to wonder about it unless he is making
a gazillion bucks.

I think what I am actually saying to super specifically is, don't be
so hard on honest people out there trying to contribute.  If there is
say some lady working in back-office that is excellent at settling
deals with bank ABC, then she contributes to the whole trading
business, even though she does not trade.  If there is guy in IT,
writing option calculators - even selling these for a living - and he
does not trade, he still is contributing.  If there is an operator
making sure servers are running all night, and maybe sells these
services to traders to make their life better, he contributes though
he knows not the difference between a CFD and a share.  I don't think
it should be a requirement that somebody selling trading products
should be a successful trader.

Long ago I worked in a dealing room and we obtained Advanced Get.  The
guy who developed it was an engineer, then started trading part time
and started writing AGet.  Then he quit his job and just traded, then,
it seems, he just sold AGet and then, when we looked at AGet, he was
just going around presenting training courses on AGet.  Our conlusion
- it pays to be an engineer, it pays more to be a trader, even more to
sell software but it pays best to present training seminars!

Regards
MG Ferreira
TsaTsa EOD Programmer and trading model builder
http://www.ferra4models.com
http://fun.ferra4models.com 

--- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@xxxx> wrote:
> MG,
> 
> I don't normally do this but in this case I will.
> 
> I can't tell you about Roy's performance or track record. I can tell 
> you that I have seen a system that he developed with a greater than 
> 80% successful track record. Roy's work is not about finding a 
> successful system though. It is about finding ways to work within the 
> Metastock formula language to successfully code indicators and 
> formulas. He has written a group of indicators called Trade Equity 
> that work within the explorer and perform as a system tester. Little 
> is said about this work but from my perspective I was personnally 
> floored to see its performance. Equis claimed it could not be done. 
> The same holds true for indicators/formulas that he writes. 
> 
> Roy's publication is more about working around those wonderful 
> nuances that drive you stark raving bananas. If you write code then 
> his publication is a must! I am a subscriber and for my money its the 
> best buck I spend.
> 
> On the other hand there are those who write about trading, in this 
> case its a horse of a different color. Most of the work is 
> interesting but in reality I as well doubt their capability to 
> survive in the real world of trading.
> 
> Trading is not an easy road to follow. Learning how to do it takes a 
> lot of time and hard work. Success does not fall into your lap 
> overnight. 
> 
> 
> Preston
> 
>     
> 
> --- In equismetastock@xxxxxxxxxxxxxxx, mgf_za_1999 <no_reply@xxxx> 
> wrote:
> > I feel bad about this post already, and wish I could take it back.  
> I
> > really do not want an answer nor am I asking for Roy's track record.
> > 
> > But....to be far.....
> > 
> > What I really mean is this: you mention all the guys that write 
> books
> > or magazines but won't survive trading.  You also actively promote
> > Roy's work.....
> > 
> > 
> > Again, simply to be fair.....
> > 
> > The same yardstick should apply don't you think.
> > 
> > Regards
> > MG Ferreira
> > TsaTsa EOD Programmer and trading model builder
> > http://www.ferra4models.com
> > http://fun.ferra4models.com 
> > 
> > --- In equismetastock@xxxxxxxxxxxxxxx, mgf_za_1999 <no_reply@xxxx> 
> wrote:
> > > To be fair, I should ask, hesitatingly so, if Roy trades the 
> markets
> > > and what his track record is like.
> > > 
> > > Regards
> > > MG Ferreira
> > > TsaTsa EOD Programmer and trading model builder
> > > http://www.ferra4models.com
> > > http://fun.ferra4models.com 
> > > 
> > > 
> > > --- In equismetastock@xxxxxxxxxxxxxxx, superfragalist 
> <no_reply@xxxx>
> > > wrote:
> > > > I use the system tester, but I don't consider the results from 
> it or
> > > > any tester to match what I'm going to get in live trading. The 
> results
> > > > from the tester are relative. You can compare one systems test 
> to
> > > > another systems test if you've used similar settings. This 
> gives you
> > > > basic information as to the number of trades, duration of 
> trades, etc.
> > > > That information can be used to rank systems, define conditions 
> under
> > > > which one system works better than another system. However, if 
> the
> > > > systems tester tells you you're going to get a 28.5% annual 
> rate of
> > > > return and you believe that, oh well.
> > > > 
> > > > After you've traded live for awhile, you should be able to 
> calculate
> > > > the real rate of return for those market conditions. Each set of
> > > > market conditions will have a different rate of return 
> regardless of
> > > > the system design.
> > > > 
> > > > I test almost all systems with buy or sell on open with a 1 bar 
> delay,
> > > > even though I don't trade that way. It's all about keeping the
> > > > comparisons relative. Once the system test is done, I go back 
> to my
> > > > history files, pick periods corresponding to specific market
> > > > conditions, and paper trade the system historically. That gives 
> me a
> > > > feel for what's going to really happen in each of those market
> > > > conditions. I keep those stats and compare them to the live 
> trading
> > > > stats. 
> > > > 
> > > > Yes, it labor intensive but so is earning back the money you 
> lose if
> > > > you believe anybody's system tests results are really right. 
> > > > 
> > > > I don't know Nora or JD. 
> > > > 
> > > > I use version 9 but it has a lot of bugs in it as all previous
> > > > versions of MS have had, and Equis doesn't intend to fix any of 
> the
> > > > bugs because there is no money in fixing bugs as long as the 
> basic
> > > > functions work as described.
> > > > 
> > > > Roy's newsletter is the best source of indicators and MS trading
> > > > methods out there. He covers everything you will ever want to 
> know
> > > > about the tester and explorer. 
> > > > 
> > > > I like some John Ehlers code. Most of it doesn't test out any 
> better
> > > > than anyone else's. The IFT of the RSI is pretty good as is the 
> DCF.
> > > > Both of them are fully explain in the newsletter. 
> > > > 
> > > > I like David's stuff. 
> http://www.alticom.com/indicators/overview.html
> > > > 
> > > > Some of it is coded in Roy's newsletter. Equis has some of it 
> on their
> > > > site but the code is wrong. The code in TASC is wrong also. The 
> B&Q is
> > > > in the newsletter. I've coded several of his indicators, and 
> they work
> > > > better than most of Ehlers except for the IFT and DCF. All of 
> David's
> > > > stuff is hard to code. Oh, well. 
> > > > 
> > > > Have fun!
> > > > 
> > > > 
> > > > 
> > > > --- In equismetastock@xxxxxxxxxxxxxxx, "jim" <jimk_30045@xxxx> 
> wrote:
> > > > > dear superfragilistic...how are you..i appreciate your 
> outrageous 
> > > > > unselfish and huge notes on anything you respomd too..i still 
> think 
> > > > > your JD...how's nora doing....and i hope your doing 
> > > > > well....anyway...here is my note...after reading all the
> > > ^^(^^(*^*(^*^*
> > > > > (^(*^(*^(*^(*^*(^ crap on the ST...do you use it...and the 
> delay
> > is a 
> > > > > bunch of crap so do you do your alerts at 3:30pm as suggested 
> by
> > the 
> > > > > classic Sprunger note to get an O H L C  and do an order based
> > on the 
> > > > > close....and place your trade by 4...i hope thiu is not 
> > > > > nonsense.......did you upgrade to 9.0.... the mesa note...do 
> you
> > use 
> > > > > any on his code....or s. karnsisch code..thanks...





 
Yahoo! Groups Links

<*> To visit your group on the web, go to:
    http://groups.yahoo.com/group/equismetastock/

<*> To unsubscribe from this group, send an email to:
    equismetastock-unsubscribe@xxxxxxxxxxxxxxx

<*> Your use of Yahoo! Groups is subject to:
    http://docs.yahoo.com/info/terms/