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Just because a tool can't be coded or mechanized does not mean it has no
value in trading. Some things require an understanding beyond lines of
code. I guess we are now entering the realm of discretionary versus systems
trading, and that's a discussion I have no interest in pursuing.
Bob
----- Original Message -----
From: "Bill Wynne" <tradewynne@xxxxxxxxxxx>
To: <Bheisler@xxxxxxxxx>; <softexcl@xxxxxxx>; <mr_bond@xxxxxxxxx>;
<ebonugli@xxxxxxxx>; <omega-list@xxxxxxxxxx>
Cc: <rfurse@xxxxxxxxxxxx>
Sent: Saturday, February 23, 2002 12:45 PM
Subject: Re: OddBall as a market timing tool
> >From: "Bob Heisler" <Bheisler@xxxxxxxxx>
> >
> >I've been using Ticki for several years now and find it an invaluable
tool
> >for daytrading the indexes especially when combined with Premium and to a
> >lesser extent Tick.
>
> >I'm not a systems person, but with what I know about Ticki I'm not sure
how
> >it could be used in any mechanical way.
>
> Once again I applied my humble coding skills and contrary personality
traits
> to the ticki....
>
> WARNING: code that follows is only for comparative purposes. Test it
> yourself and see what you think. IMO I would not trade either system
below,
> however some might find value in the basic comparative info.
>
> I tested various time frames, but found 60 minute data the most revealing.
> Data1 SPX, data2 Ticki, data3 Tick, data4 Prem.
>
> Fades ticki, tick, prem extremes:
>
> inputs: Y(22),X(500), Z(5);
> If highest(h of data2,2) > Y
> and Highest(h of data3,2) > X
> and Highest(h of data4,2) >= highest(H of data4,Z)
> Then sell;
> If Lowest(l of data2,3) < -Y
> and Lowest(L of data3,2) < -X
> and Lowest(L of data4,2) <= Lowest(L of data4,Z)
> Then buy;
>
> Flows with ticki, tick, prem extremes:
>
> inputs: Y(22),X(500), Z(5);
> If highest(h of data2,2) > Y
> and Highest(h of data3,2) > X
> and Highest(h of data4,2) >= highest(H of data4,Z)
> Then buy;
> If Lowest(l of data2,3) < -Y
> and Lowest(L of data3,2) < -X
> and Lowest(L of data4,2) <= Lowest(L of data4,Z)
> Then sell;
>
> FWIW, "fader" actually had a higher % of winners in my
> short test while losing bigtime (66%, lost $271K+), while
> the "flow" version won less often (59%) it made more (+$271K).
>
> I take back what I originally said about the ticki being
> a waste of time and I want to thank everyone that brought
> it back to my attention. It is indeed a fine tool.... ;-)
>
> BW
>
>
>
> WARNING: Trade at your own risk! Commodity trading can be risky and is not
> appropriate for everyone! The information presented is for
> informational purposes only. Investment in futures involves a high degree
of
> risk, your investment may fall as well as rise, you may lose all your
> original investment and you may also have to pay more on the original
amount
> invested. Consult your broker or advisor prior to making any investment
> decisions. Past or simulated performance is not a guide to future
> performance.
>
> NO CLAIMS ARE MADE THAT THESE TRADES HAVE BEEN
> OR ARE LIKELY TO BE PROFITABLE.
>
> NOTICE: This information is believed to be reliable, but is not guaranteed
> as to its accuracy or completeness. This information is subject to change
> without notice. Neither the information, nor any opinion expressed herein
> constitutes a representation by Smart Trades Inc., or a solicitation for
the
> purchase or sale of any commodity futures, or options of any kind. Those
> using the information herein for trading purposes are responsible for
their
> own actions and no claim is made that the recommendations will be
profitable
> or that they will not result in losses. Smart Trades Inc., its officers,
> employees, or members of their families may have a position in the markets
> contrary to the information contained herein.
>
> REQUIRED CFTC RISK DISCLAIMER: HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY
> INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION
> IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR
> LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP
> DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL
RESULTS
> SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE
> LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY
> PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING
> DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN
> COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING, FOR
> EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR
> TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN
> ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER
> FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY
> SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE
> PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN
> ADVERSELY AFFECT ACTUAL TRADING RESULTS.
>
> © Smart Trades Inc. 2002. All rights reserved.
>
>
> >From: "Bob Heisler" <Bheisler@xxxxxxxxx>
> >To: "Bill Wynne" <tradewynne@xxxxxxxxxxx>, <softexcl@xxxxxxx>,
> ><mr_bond@xxxxxxxxx>, <ebonugli@xxxxxxxx>, <omega-list@xxxxxxxxxx>
> >CC: <rfurse@xxxxxxxxxxxx>
> >Subject: Re: OddBall as a market timing tool
> >Date: Fri, 22 Feb 2002 18:55:22 -0600
> >
> >I've been using Ticki for several years now and find it an invaluable
tool
> >for daytrading the indexes especially when combined with Premium and to a
> >lesser extent Tick. It's especially useful for trade management although
> >it
> >can also be involved in trade setups. Outlining all of the details on
how
> >to use it is beyond this email, but paying attention to extreme readings
> >(+/- 22 or higher/lower) at S/R levels would prove a useful endeavor.
And
> >sometimes a reading of +/- 28 can occur at interesting times especially
if
> >Premium/Tick are saying the same thing. However, is you use Fibs or some
> >other form of calculated S/R numbers then I doubt you'll find much use
for
> >Ticki. It works best with the market's S/R numbers. I also don't
believe
> >it would work very well if used for indications of the market being
> >overbought/oversold, if there is such a thing.
> >
> >I'm not a systems person, but with what I know about Ticki I'm not sure
how
> >it could be used in any mechanical way. Plus the quality/frequency of
the
> >data varies widely between data vendors. It's an acquired taste for
sure,
> >and the only certainty about it that I know of, besides it always trades
> >between +/- 30, is that it will take time to learn how to use it. But
it's
> >a very valuable tool if you do invest the time.
> >
> >Bob
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