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Best article written.If one can follow the rules
Outlined and forget about beating the market these
article is the gist of the stock market.Everything
else is rubbish.
--- JB <jrbois@xxxxxxxxxxxxx> wrote:
> Bob has layed out a very good plan, you should read
> it carefully and save
> your money on trading systems.
>
> John
> -----Original Message-----
> From: Metastockusers@xxxxxxxxxxxxxxx
> [mailto:Metastockusers@xxxxxxxxxxxxxxx]On Behalf Of
> Bob
> Sent: Monday, August 22, 2005 7:59 PM
> To: Metastockusers@xxxxxxxxxxxxxxx
> Subject: [Metastockusers] Re: Metastock System
> Tester and trading strategy
> question
>
>
> I don't have a lot of time to waste on this issue.
> However, you are so
> far away from the truth you couldn't see it with
> telescope.
>
> You need to get an education on trading. Here it
> is.
>
> 1. Indicators are only so so. Most of them work
> pretty good some of
> the time. However, you're going to feel the need
> to ask what the best
> indicator is, or test them all yourself. Good
> luck!
>
> 2. Trading is about strategy. It's not about a
> trading system.
> http://www.elitetrader.com/tr/index.cfm?s=17 Read
> every article in
> this series. This article is like the first grade.
> It gets harder from
> here.
>
> 3. Once you have a strategy, which will take you a
> few years to
> develop, backtesting it is of limited value.
> Ninety nine percent of
> the people who use the tester don't have a clue as
> to what they're
> doing so their results are poor. System test
> results never match live
> trading results. Proper system testing is as hard
> as learning to use
> TA. It's a whole separate education.
>
> 4. Almost every system works well in an up trend.
> Nothing works well
> in a down trend. Yeah, yeah. I know all about
> shorting, etc. I stand
> by what I'm saying. I've tested over 1000 systems.
> I get it.
>
> 5. You need to learn to identify the market
> conditions. If you trade
> correctly for the market conditions you might
> survive.
>
> 6. 95% of all traders lose money. This includes
> you and every other MS
> user. Get ready to grieve, chew frustration and
> question life itself.
>
> 7. Entry systems are a dime a dozen and almost
> worthless. Exits are
> difficult. Money management is almost everything.
> The market
> conditions are everything.
>
> 8. The best buy and hold book ever written is
> William Bernstein's Four
> Pillars of Investing. Nothing, including trading,
> generally beats a
> proper asset allocation model. Bernstein will
> explain why and how to
> find the proper model. Read that book, and sell
> your copy of MS on
> ebay. You'll be money ahead. By the way, speaking
> of testing, I did
> test Bernstein's models, extensively. If you can
> beat the results from
> his models through trading, you're going to be in
> the trading hall of
> fame. Don't forget to factor taxes into it.
>
> 9. Read Roy's newsletter. There's nothing better
> for teaching you how
> to use MS and how to trade.
> www.metastocktips.co.nz It's cheap, it's
> very good and you need to buy all the back issues.
>
> 10. I've been trading full time for several years.
> I make a very good
> living from it. It's the hardest thing I've ever
> done, and I've done a
> lot of hard stuff very successfully. Take my
> advice and quit while
> you're ahead.
>
> 11. Read everything I've written here several
> times until you get it.
> If you won't take my advice and quit now before
> you lose your butt,
> then you better read every trading book you can
> get your hands on.
> I've read 200 of them. Read rule 9 again and
> again, until you believe
> it. It's the truth.
>
>
>
> --- In Metastockusers@xxxxxxxxxxxxxxx,
> "GaryNielson" <gary@xxxx> wrote:
> > I am new to Metastock EOD. I just finished the
> training CD and
> > workbook, "Finding the Right Trades with
> Metastock." It was excellent
> > and in it, Bret Charlesworth goes through how
> you can system test, or
> > backtest, dozens of trading strategies on a
> particular stock you are
> > interested in and select the trading strategy
> that works best with
> > that stock. You might employ a Bollinger Bands
> strategy with one
> > stock, a moving average cross strategy with
> another, etc. Do a lot of
> > Metastock users trade like this and how
> successful is such an
> > approach? Is the Performance Systems Plus add-on
> Bret mentions during
> > training worth it? It apparently has 52
> additional trading strategies
> > but the website doesn't state what they are.
>
>
>
>
>
> SPONSORED LINKS Business finance course Small
> business finance Business
> finance schools
> Business finance online Business finance
> class Business finances
>
>
>
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>
S.M.Deen
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