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In a message dated 98-03-27 00:35:24 EST, you write:
<<
>backtesting beyond the past few months is a complete waste of time. What
happened in >1982, 1987, 1992, 1995, or 1997 has absolutely no bearing on
how the stock index futures >trade today.
>>
Maybe for you but not for me!
Not true with my SP day system. The indicator pattern I got Thursday has
not occurred in my system since August of '97. The same filter saved me
from taking any positions on this anemic day as it would have in '95 or
whatever. But it's there in my system because of backtesting and only because
of backtesting beyond 4 months.
I agree that new dimensions have taken place with the advent of electronic
entry, the blossoming of global markets and the current mindset that equities
are the way to invest. And I submit that this became evident about this time
last year, not 4 months ago. I also agree with Michael that this is much more
of a challenge
to daytraders than position traders. However, old standby situations reoccur.
Beware of the new but respect the old. I'll make my system work over all of
it
or I won't trade it. Period. There are no guarantees but I wouldn't trade
without the old situations coded into my system.
Dave Stanley
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