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I can't comment on Futures Truth as I have never followed them nor do I have
any interest in mechanical systems per se, but I will add to your comment
"that a newbie should get some kind of help at the start."
I couldn't agree more with that statement, however I would strongly advise
aspiring traders to spend More time studying PRICE action & behavior in an
effort to develop their trading plan, and Less time looking at PRICE through
the thick fog of squiggly lines.
Regardless of what methods you end up deciding to employ, this is only the
beginning of the journey as then you must learn how to trade. Unfortunately
many traders mistakenly think these are one in the same.
Just my 1.5 cents...
Bob Heisler
www.rjhtrading.com
----- Original Message -----
From: "Patrick Gamble" <pgamble@xxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, December 20, 2000 10:26 AM
Subject: Re: Re[2]: Futures Truth Bashing
> I was a subscriber to Futures Truth and was going to buy one of the
> systems that always seem to do well in their chart. It was supposed
> to be so good that each subcriber was limited to one contract.
>
> Though I live outside the US, I have a contact in a reputable firm that
> conducts a business trading systems. For what it's worth, I was advised
> that they had had clients purchase the system and 'it had not lived up
> to expectations'. Make of that what you will.
>
> On the other hand, they believe that Aberration, though very simple, is
> a very good starting point for new traders. The code has been posted
> here before, and there was someone (Mark Johnston?) who had a
> bet sizing algorithm that was producing 70% plus per year. The
> drawdown on Aberration can, I believe, be quite scary, so it is not
> for everyone. But it may well be a good place to start.
>
> I strongly believe that a newbie should get some kind of help at the
> start. Otherwise, one sits there, overfitting like mad and then pulling
> back when the first few trades don't make 100% return. I know,
> cos I've been there. Aberration or Chuck Le Beau are at least good
> first steps on the road.
>
>
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