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Michael
Thanks for the link,
I'm looking at it but I'm not sure it is capable of dynamic betsizing as
TR.
You got this sw?
Nicola
> -----Messaggio originale-----
> Da: Michael Suesserott [mailto:MikeSuesserott@xxxxxxxxxxx]
> Inviato: martedì 30 gennaio 2001 18.35
> A: omega-list@xxxxxxxxxx
> Oggetto: AW: MY TRADING RECIPES REVIEW
>
>
> Nicola,
>
> you should have included BITM (www.tarnsoft.com) in your review.
> IMHO, it is
> a far superior product. You can download and test it for free.
> (Disclaimer:
> no connections etc.)
>
> Regards,
>
> Michael Suesserott
>
>
>
> -----Ursprüngliche Nachricht-----
> Von: Nicola Prada [mailto:nicola.prada@xxxxxxxxxxxx]
> Gesendet: Tuesday, January 30, 2001 18:05
> An: omega-list@xxxxxxxxxx
> Betreff: MY TRADING RECIPES REVIEW
>
>
> MY TRADING RECIPES REVIEW
>
> After my post on the Chuck’s le Beau Trader Forum I received
> several emails
> from people interested in my first impressions using a software called
> “Trading Recipes”. I like to post my experience here on the list.
>
> A week ago I received my copy of Trading Recipes (TR). I used at
> the office
> Tradestation for several years (since it was in version 3.0) and I tried
> Add-ons for it in order to implement portfolio analysis and money
> management
> studies.
>
> I can say for a *non daytrader / researcher* point of view TR is a more
> powerful and less expensive (dollars and time) sw compared to others.
>
> --------------------------------
>
> DISCLAIMER
>
> I am an Italian technical analyst and I develop systems for private and
> institutional customers. My language is not English so I apologize for
> possible grammar mistake.
>
> I have no affiliation with Trading Recipes or with its vendor,
> Bob Spear. I’
> m only a satisfied customer and I DO NOT authorize anyone to copy this
> message, in whole or in part, for advertising purposes.
>
> This is *my* personal opinion originated from my need to choose the right
> software for me.
> -------------------------------
>
> I compared TR (v 4) functionalities to the ones available in others
> commercially available software:
>
> ******* What I like:
>
> 1) TR is able to backtest in a SINGLE step a diversified portfolio of
> securities (stocks, bonds, currencies, commodities....). Tradestation
> ,Metastock and others are only able to test 1 tradable at time. For me
> interested in Stock market it's the only available sw that lets me test a
> REAL stock portfolio.
>
> 2) TR has a function called "Simultest" that let you test
> different systems
> over a diversified portfolio at the same time! You can have a
> trend follower
> system for the currencies and a countertrend system for the equity indices
> that trade your account.
>
> 3) At the same time TR implements *FULLY* programmable Money management
> strategies for betsizing & risk control. You have not to be dependent of a
> pre-programmed money management strategy. You can setup also
> different risk
> level for different groups or sectors.
>
> 4) TR can do a "Worst case scenario analysis" : It automatically selects
> each trade in sequence making it the very first trade entered and it save
> results from each run in an ASCII text file. You can know how your system
> performed when run for a lot of different start points.
>
> 5) I think the Trading Basic language is simple and can be
> directly compared
> to Tradestation's Easy Language.
>
> Principal differences are:
>
> * you view your variables in a spreadsheet (and you use it as
> your debugger)
> * the resource /entry /exit are coded in different statement/pages.
> * bar reference:
>
> suppose you want to code a system that buy the open if the
> previous close is
> > than x
>
> In TS: if C > x then Buy Next Bar at market;
> in TR: if C[1] > x then Buy Open
>
> If you have fear to write code TR is not for you. If you are a
> power user of
> Tradestation you will have no problem in learning the Trading Basic
> language.
>
> 6) TR allow the user to access external data items available for each
> market, each day, and this allow the backtesting of cot, spread ,arbitrage
> strategies or to implement the minimum lot test (useful to test a real
> italian stocks portfolio).
>
> 7) With Trading Recipes one can introduce postdictive errors and
> this lets
> the user to test things like “Maximum Slippage Test” as pointed
> out by Mark
> Johnson in a previous post.
>
> This is impossible to do in Tradestation4 and 2000i without the
> need to use
> an external .DLL.
>
> 8) TR has not showme, indicators, paintbars, functions as Tradestation but
> it has only “Systems”. This means if you want a show me you have to do a
> computation in TR and after say plot this as an histogram. This is a good
> work around. But there is to remember that TR is born as a
> backtest tool not
> as a chart software for discretionary traders.
>
> 9) Only with TR I was able to see the power of betsizing and to see an
> equity curve go exponential also with a simple channel breakout +
> *dynamic*
> betsize provided with the software. I think I’ll focus more on
> the betsizing
> side and less on the entries / exit setups from now.
>
> 10) Last but not least the support provided from Bob Spear. He helped me
> with his sw and with minor Windows trouble (not directly related to TR). I
> never had before a support of this quality for a sw.
>
> ****** What I do NOT like:
>
> a) TR is a DOS sw (for now) and it is limited in graph
> resolutions by the
> MSDOS limits.
> As Bob Spear pointed out I admit this is true but does not
> influence trading
> results.
>
> b) There is not (for now) an optimizer but there is a “batch
> function”. I
> think optimization is dangerous but I like to see the graphs of the
> distribution of the results based on different parameters in order to
> evaluate the robustness of the systems. A TR “batch run “– export to
> ascii – import to excel can solve this.
>
> ****** Why I bought Trading Recipes , I like it and I am so happy:
>
> I was looking for a sw able to implement portfolio simulation and
> *Dynamic*
> money management (betsizing) studies.
>
> The only alternative I found was:
>
> Option 1:
>
> Tradestation 2000 : (2,399 usd) +
> Rina Portfolio Evaluator 2000 (995 usd) +
> Rina Money Manager 2000 (1,995 usd) =
>
> Total= 5,389 u.s.d.
>
> And
>
> Option2: Trading Recipes (2,295 usd)
>
> I excluded Athena software from Tharp because it is a lot overpriced.
> I excluded another’s 2000 usd sw because it is not completed yet (now it’s
> in the 1.0 release).
>
> *First* I compared 5,389 usd to the 2,295 usd asked for Trading Recipes.
>
> After I compared the functionalities of these 2 different options:
>
> * I do not need real time capabilities provided by
> Tradestation because I
> focus myself on position trading and asset allocation studies.
>
> * Trading Recipes lets me test my entire portfolio all at once, Rina
> requires that I individually test every market in my portfolio in
> Tradestation first and then export them to a file and them pull them back
> into the Rina program. This approach doesn’t work for me because
> I value my
> time. A test that would take 2-3 minutes in Recipes could take
> several hours
> with Rina software.
>
> * Trading Recipes lets me apply a real DYNAMIC position sizing and
> recalculates it every day based on the real equity.
>
> * Trading Recipes is a complete backtesting and trading
> software, it is not
> an add-on to another software.
>
>
> For these reasons I bought Trading Recipes and I am a lot
> satisfied. I think
> it is a great backtesting and trading tool.
>
>
> Nicola Prada
> nicola.prada@xxxxxxxxxxxx
>
>
>
>
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