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Hi Ian
I have read the book - and its basically two different subjects it covers in detail:
1. Support/Resistance points using the highest high principle
2. Directional day (as you are refering to) which basically measures the difference between the open and say 60 minutes out in the session and uses that to identify if it is an upday or not.
The book is ok - however I would download the information about paralell functions that is available on his website and study that in more detail instead - that topic is much more interesting if you ask me.
Frode
http://www.futuressystems.net
----- Original Message -----
From: "Ian Waugh" <ianwaugh@xxxxxxxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Cc: <ianwaugh@xxxxxxxxxxxxxxxxxxx>
Sent: Saturday, December 29, 2001 9:11 PM
Subject: Clayburg - Four Steps to Trading Success
> Has anyone read this book and tried the methods?
>
> The indicators are available on his web site (www.clayburg.com).
> Unfortunately, they are copy-protected so while you can use the indicators,
> you can't modify them or easily incorporate them into a mechanical trading
> system.
>
> Although ostensibly for use with both stocks and futures, most of the
> examples use stocks. I have had virtually no success with his methods on
> futures although this was trying to code a mechanical system.
>
> His Directional Day Filter, professes a 75% success rate in predicting the
> direction of the day but no concrete historical testing is provided to back
> this up. In addition, the filter is very much an "eye ball" thing with no
> instructions given for taking a mechanical stance. This being the case, how
> was he able to backtest it to come up with the "75% success" figure...? My
> efforts at coding it and using it on the futures market reveals a positive
> bias both more like 30% than 75%.
>
> Has anyone achieved anything positive from the book?
>
> Cheers,
> Ian
>
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