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Alex see this thread:
http://finance.groups.yahoo.com/group/equismetastock/message/24411
I have APS for more than three years. The program does exactly what
it is supposed to do and support is excellent. I use it with Metastock
and Wealth-Lab. There is no issue of curve-fitting since the patterns
APS finds are true formations and you cannot change the
timing they occur in the same way you can do that when changing the
period of a moving average crossover.
There are other issues with price patterns:
(1) Statistical significance: often difficult to determie
(2) Endurance: how long a pattern will remain profitable
I never use signals from just a single pattern. I always
look for multiple formations during a specific time frame. In a
Bayesian probability sense this provides a better chance for
profitable signal. I found the delay option very useful.
This article in the APS website discusses the endurance issue for
QQQQ patterns:
http://www.tradingpatterns.com/About_Us/articles/article3/article3.htm
l
Joe
--- In equismetastock@xxxxxxxxxxxxxxx, "Alex Spiroglou"
<a.spiroglou@xxx> wrote:
>
> I recently bought the Price Patterns book from Mike Harris Short-
Term
> Trading with Price
> Patterns<http://www.amazon.com/Short-Term-Trading-Patterns-Michael-
Harris/dp/0934380600/ref=pd_bbs_2?ie=UTF8&s=books&qid=1197792072&sr=8-
2>
> He has written numerous articles in various magazines.
>
> Does anyone use his
> software<http://www.tradingpatterns.com/Software/software.html>?
> I would like to use it as an add-on to my strategy (not rely solely
on it)
> to signal actual trade entry.
> Conceptually it appears appealing, but I dont know to what extend
it may
> borderline with curve-fitting.
>
> I would very much appreciate if anyone could provide client
testimonials.
>
> rgds
> Alex S
>
>
> [Non-text portions of this message have been removed]
>
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