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Guys,
I fully concur with the sentiment that much of the stuff on sale is absolutely useless. Over the last several years, I've tested truely thousands of systems. I have drawers full of system test reports for both my own views on systems and proprietary systems and much of it is garbage. In some cases the system purveyor has changed advertising,
Let me come to the point. I will post (depending on feedback) some systems which work in order for us to have some common yardsticks as to what makes a good system. They do not contain proprietary elements and can be found, or something very like it, in the public domain. They will be in pseudo-code as I tend not to use Metastock regularly. I believe these systems back-test OK and are presented as full systems. They will not suit everyone's trading style. Whilst I believe I am highlighting something that works better than most of the junk refered to earlier, I would welcome some feedback as to how they might be improved. It's not my intention for us to just knock the systems presented but to collectively improve upon them. Who knows - we might be able to invent a worthwhile plug-in!
The first one is based around the Narrow Range 7 Day (NR7)
pts= Optimize("points",3,0.5,10,0.5);
numbars = Optimize("NumBars",1,1,10,1);
NR7Day = (H - L) < smallest range of the last six days
InsideDay = H < Previous High AND Low > Previuos Low
Filter is true if it's an NR7 day and also an inside day.
BuyStop = Previous high + pts;
SellStop = Previous low - pts;
go long if filter was true yesterday and if market crosses above the buystop on a stop
Sell if price crosses below the sell stop
ShortStop = Previous low - pts;
go short if filter was true yesterday and if market crosses below the shortstop on a stop
CoverStop = Previous high + pts;
Buy to cover if the market crosses above the coverstop.
Exit any position after numbars
As you can see it's not rocket science, but it should give a positive expectation.
Other things to try might include the addition of a low volatility check and say a doji formation etc. etc.
Over to you.
DJ
----- Original Message -----
From: Lionel Issen
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Saturday, January 13, 2007 8:29 PM
Subject: RE: [EquisMetaStock Group] Re: Using the enhanced system tester
Right on target.
_____
From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of eqmts
Sent: Saturday, January 13, 2007 6:43 AM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group] Re: Using the enhanced system tester
Before proceding i think u should know the following things:
1. In this field (technical analysis) i saw more charlatans than in my
entire life - my activity in this field is for almost 7 years
2. Why are they selling their plugins if those plugins make money, why
not using the plugins to make money from the market instead profiting
from peoples hopes? The answer is that 99,9(9)% (remember, not 100%) of
the plugins are ABSOLUTELY USELES...some of them showing flash vids
with profitable trades, disgusting, and people are like kids reciving
kandies. PLEASE PEOPLE THINK, THINK, THINK
3. About seminars and trade courses: techincal analysis is much more
simple than it sounds if u properly understand mathematics (or should i
say aritmetics?). U probably will attend at seminars with all sort of
gurus, well, if u ask me there are well known gurus that make money
from the market and teach in the same time, the only problem here is
that they usually present only half or less from their strategy. Now,
even if they would show the entire strategy i`m pretty sure that the
students can`t profit from that strategy becuse of lack of confidence-
even if they can test it- and that is due to the fact that usually
they don`t understand (or know) the edge (u know..probabilities,
statistics...) of that strategy
3. and there is more
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[Non-text portions of this message have been removed]
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