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Dans un courrier daté du 25/02/98 00:43:33 , Tony Haas écrit :
(Warning :Various snip occured below)
<<
ribau wrote (in part):
>I'm curious... How do other list members feel about buying systems from
>non-traders?
I would NEVER buy a system from a non-trader!!! This is first of my
TRADING commandments...THOU SHALL NOT BUY TRADING SYSTEMS FROM
NON-TRADERS...PERIOD!!! Etched in stone.
Would you buy an oil deal from a non-geologist or non-petroleum engineer?
Would you buy a computer from a vacuum cleaner saleman? How about a lawyer
performing brain surgery? (sorry, couldn't resist <g>) And so on. To claim
to only KNOW about trading is a poor excuse to justify selling systems.
>>
You are absolutely right.
<<
if 0 is true, then
1. Does the system vendor use the system in his / her own trading? If not,
WALK AWAY!
>>
And cross the street...
<<
if 1 is true, then
2. Will the system vendor release audited account statements documenting
the real time system performance? I require records for a MINIMUM of ONE
YEAR for day trading systems and THREE YEARS for EOD systems. Sounds
tough??? Well, so is losing YOUR MONEY trading a CRAPPY SYSTEM!!! If the
system vendor does not comply, then WALK AWAY!
>>
3 years EOD?
Not enough!
I use 30 years on 30 min ntraday data
I test on unseen data with more than 500 years with daily bars.
<<
if 2 is true, then
3. Will the system vendor provide a fully functional trial version for your
real time evaluation? Most vendors will gladly let you use a full blown
version (under lock and key, of course) for 30 days for about $100. Most
will credit the evaluation cost to the full purchase price should you
decide to buy it. Again, if the system vendor does not comply, then WALK
AWAY!
>>
Righty again
The sytem will work by chance during 30 days
<<
if 3 is true, then
4. Is the system BLACK BOX (code locked, no user input at all), GRAY BOX
(code locked, user input allowed), or WHITE BOX (code unlocked and user
available). This rule requires
your "box" choice based
on your own personal perferences. My preference is for WHITE BOX systems
only...my reasoning is that since I bought the code, then I should be
available to look at it. Also, you might want to lease the system for a
monthly fee (should the vendor not be willing to release the code) if you
like the system and it passes the three tests above. That way, if it's
junk, you cancel the lease and go your way. If you intend to become a
serious trader (part-time) or full time trader, then only buy WHITE BOX
systems.
>>
Unfortunately, there are very limited.
One of the best that I have seen (according to Future Truth) was a ONE LINE EL
CODE.
Price list>1200$.
Seems to be an Aberration (c) and (g)....
<<
PS1: So as not to enrage any ORSP's that provide EL support on a per hour
basis, I'm not referring to you. I may have an occasion to use your
services to program trading ideas beyond my meager understanding of EL. I
would only require that you sign a nondisclosure agreement covering any
code you developed for me. This is a standard industry practice. If you
don't sign an agreement, I WALK AWAY.
>>
This practice is common in the programming business, not only with ORSP.
<<
PS2: So as not to enrage any ORSP's that provide TS add-ons such as
HashNums, etc., (no affliation or personal interest, first one that came to
mind), I'm not referring to you. Products that extend TS's capabilities
are welcome additions to most users.
>>
We like them too
<<
PS3: So as not to enrage Pierre Orphelin, a very vocal ORSP on this list,
I'm not referring specifically to Safir-X or SirTrade. I don't consider
those to be systems per se, but more of a system development toolkit or
package (based on my preview of a downloadable version of Safir-X and
SirTrade several months ago). What I'm referring to in this post are fully
tradeable, out of the box, 100% mechanical systems...just plug into TS and
go. Pierre's neurofuzzy thingy requires a lot of thought as to the proper
inputs to get
t 30
hours) on intraday S&P data and was impressed. But not enough to shell out
4 grand now.
>>
Again, you are absolutely right. We sell a development tool.
Even for us it is a gray box, and we do not care...
Finally, as as usual , I always end to meet intelligent people her, after some
words....
Sincerely,
Pierre Orphelin
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