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Got to thinking and want to make a few more comments. I feel Andy's posting
someones code wasn't quite the way to go about what he was trying to do. Yet
I agree with his feelings. Since Michael Mermer chose to attack I'll use him
as an example, since I have had first hand experience. I am posting this just
to give newcomers a feel for what I meant in my first post.
I got interested in his approach based on an ad and I responded. Got a
demo which was a canned slide show, and it indeed look interesting. Seemed to
be based on a "study" which was a line running thru the chart, and a quote
unique proprietary indicator, whose purpose was to keep you on the right side
of the trend.. I contacted Mr Mermer and found him quite helpful. But I've
been burned enough, and to just shell out $2000 which was the price at the
time, with no look, and no money back just didn't cut it. He finally
consented to selling me a live one month demo for $250, but stated that there
were rules that govorned and he wouldn't include them for that price. I felt
this was a bit silly, but still felt I could gain something for that price, so
I took it. Also I knew that I would be getting code that was locked whereas
for full price the code would be available. I installed and looked at the
system, and it was clear that the signals wouldn't be profitable without the
rules, so I began to just observe and see what I could figure out. First thing
I notice was on a gap opening the "Study" changed directions after 21 bars.
Hmmm. My my a simple 21 bar moving average. With that and seeing the
parameters on the secret trend indicator being 21 and 5, it took another 5
minutes to figure out it was just a 5 bar rate of change of the 21 bar moving
average. Now come on. To claim this as a unique idea that you've developed
is a joke. My disgust caused me to sort of drop the whole thing.
Subsequently and by accident, I obtained both the code and the manual. No.
DON''T ASK. I will not post either. That code is indeed Mr. Mermers. What
it does sure isn't unique to him, and I don't mind even saying what it did, as
I figured that out myself. Now in all fairness, the total approach as
spelled out in the manual has a lot of value and frankly if someone could by
the manual which does spell out the study and indicator for $300 to $500 it
would be an excellent value, as there are a lot of good idea's. But can
someone with no background take the software, and trade it and make money.
Maybe, but I doubt it. Would I recommend it at its current price. No. Did
I get my money's worth. Once I saw the manual, I'd have to say absolutely.
To Michael Mermer, if what I wrote upsets you, I apologize. But
newcomers to the futures business, need to understand these things, because
typically system vendors use hype in there advertising and it is misleading.
I would also say in all fairness that the approach put forth by Michael Mermer
is probably one of the more useful one's I've seen in all the junk I've looked
at.
Pete
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