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It's not that people don't like the idea of sharing systems, it's just that
one builds up a level of automatic cynicism/skepticism after a while.
a) This is an industry with a -very- high number of snake-oil salesman
(research the "3000 club" for example).
b) Creating good historical results is -very- different from actually trading
them (see Mike Higgs comment:"kicked the kids, wife, bucket")
c) Profit factor is useful, but not the only thing to consider. Smoothness
of equity curve is another, eg using the Sharpe Ratio (Bob Fulks has
written some excellent stuff on the subject:
http://www.venus.it/homes/ik2hlb/sr.htm)
d) It always pays to allow a LOT of slack in your system dev. Expect
high commissions, bad slippage, sleeping through trades, x-ed trades,
having your stops gunned out, system failure, getting ripped by your
broker, bad data..... if you trade for long enough, you'll see all of
this.
Absolutely, you can minimise a lot of it with careful research and/or hard
work,
but this is the unfortunate reality (hence people's coments about 1.67 not
being
enough - what about if you missed your best trade in 2 years because your kid
was sick, how would that affect things? etc etc etc)
Regards
Si
At 13:49 28/11/01 -0800, you wrote:
>From: "Robert Linders" <mugsnug@xxxxxxxxx>
>
>I have always understood that the profit factor should be 1.5 or greater, in
>here it is 1.66 (with $180 comm/slipp., almost 2.0 without commission).
>
>Why do not many people seem to favor the idea of sharing/exchanging systems
>?
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