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Good show Mike!
Now we're telling it like it is. I'm so glad to see these optimized wonders
being exposed for what they are....They all work in certain kinds of
markets...that's about all. Perhaps your $25 report saved some guys a lot
of money.
Just like the vendors do it...I will give you a co-endorsement for a job
well done doing your homework!
I believe if someone wants to system trade, they can simply use 2-3
DIFFERENT types of SIMPLE, FREE systems that they manually toggle on under
different conditions. You only need a simple volatility breakout type for
short pops, a "Turtle" trending type for staying in, and maybe a chop
range type. These are all simple code and will work as well as any of the
other high priced junk. THE PROBLEM, as always, is determining WHEN to
toggle the proper one on at the proper time. THAT'S why I feel a "general
method" , not a rigid system coupled with your brain (discretionary) is the
best way to make money. Your "experienced" brain will tell you when to
trade for chops, trend, or whatever.
To be honest with you, I don't feel ANY of those Futures Truth reports
really mean a damn either way, no matter how long they are run. "Cuz ALL
systems are gonna get hot then cold in a random fashion over time. To even
put credibility to "testing" an optimized system is poor science in the
first place. I will repeat what I've said before....UNTIL a system is able
to forecast the type of market coming up, and turn on the appropriate
parameters for that particular market time slot, (and there appears none
can do that now, and probably never will) then all systems are really
optimized for a particular market type, thus prone to get good results
followed by being trashed at RANDOM times. Add expenses, (slippage,
commissions) spreads, and human screw ups, and you wonder why you ever
quit your day job for THIS.
Ya know, Mike, if you and I weren't such nice guys <g>, we'd just say to
these vendors:
"Just keep pumping those systems out, baby! - $$$ Just keep pumping 'em
out! "
Tom Cathey
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Michael Paauwe reported on the ETS system:
> Here's the highlights from the Futures Truth published report:
> ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
>
> Trading S&P 500 on the daily bar:
> +++++++++++++++++++++++++++++++++
>
> Drawdown is high and performance is well below a buy and hold comparison.
> **See the buy and hold benchmark below, and compare profitability &
maximum
> drawdown.
>
> March 31,1997 to current date of report December 31, 1997: Net Profit of
> $32,375 with Max Drawdown of $39,825. This compares to $108,790 and
$36,245
> on a Buy and Hold. Between August 97 and December 97 ETS lost $39,525 on
> daily bars, giving back more than half of what it made in the earlier
part
> of the year.
>
> Trading the currencies - the JY, SF, & BP:
> +++++++++++++++++++++++++++++++++++++++++
>
> It's a NET LOSER on currencies during the reporting period. It lost
> $7,137.50 on the BP, Lost $2,450 on the SF, made $1,787.50 on the JY. The
> Win Ratio was 33%.
>
Snip Snip - gag me
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