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Hi,
well in all fairness to PO and MB, this frustration results more from
someone who was not able to create a trading strategy with the given
software. That does not say anything about the quality of the "developing"
software unless the software seller claims you will make huge profits (which
sounds more like a system seller) with my software. Well, and maybe in this
case it might be a border line.
Anyway. I am doing system development since I can count numbers. Why was I
doing it? To make easy money. Easy money for me is, place an order, be
percistent and make consistent profits. ;-)
Personally I feel that the focus of to many people here is on intra day
trading. Intra day trading is putting me infront of the screen again = work
= no freedom = not for me!
And then you get this never ending discussions of this RT data is 2 minutes
delayed, oh no it is not delayed, it is the time stamp that is delayed, oh
no ticks are missing....!
I say: So what!
Any system that need 100% crystal clear intra day data will never survive.
Because real live looks different. Then the quality of the real time data
becomes the excuse for the personal failure (or failure of the system).
The market has been manipulated to do intra day trading (more commission,
pay more for data, buy more expensive software). Or maybe those who failed
in longterm trading think they have to make it short term? Who knows.
Oh and did I mention commission - slippage - average profit ratio...
There have been numerous articles in the www.traderclub.com forum, about
longterm trading with EOD data, good money management and diversified
markets. Some how it seems to work.
My suggestion is, test a system and use the worst entry point (the high or
the low of the bar), and see how it would have done then.
So, this is just my personal opinion.
Volker Knapp
Wealth-Lab Inc.
http://www.wealth-lab.com
http://www.wealth-lab.de
PS: I am surprised to see PO and MB hand in hand ;-)
++-----Ursprungliche Nachricht-----
++Von: Beyond OddBall [mailto:beyond_oddball@xxxxxxxxx]
++Gesendet: Samstag, 16. Marz 2002 15:12
++An: omega-list@xxxxxxxxxx
++Betreff: A Professional comments on Pierre's software - - -
++
++
++
++Before any of you go out and drop 29.5 G's (or even 5
++G's) on any of Pierre's creations (or any other system
++vendor) you may want to read one of the better emails
++I received on Friday. This guy asked me to please not
++mention specifically his former occupation (which
++unfortunately would add even more validity to his
++creditials). Note what he mentions though about his
++previous career and you'll probably figure it out:
++
++
++Beyond:
++
++I've been trying for years to find something that will
++work Out Of Sample.
++No luck; no big money lost so far, except Trade
++Station costs.
++
++Spent 3 months one winter, trying to get Safir-X to
++generate a trading system that would work OOS- no
++cigar. In fairness to Pierre, he did
++offer good technical support, and really tried to help
++me succeed. However, I think Pierre's Back Prop NN
++algorithm does not generalize well into
++new, unseen market behavior (other NN algorithms may
++work better, but this is not clearly supported by
++research). But it was Au Revoir. Never saw anything
++from Safir-X that came close to adequate OOS
++performance.
++
++It was a demo, so I never got stuck paying the big
++money Pierre is asking, for a product that did not
++succeed for me.
++
++Spent the last 2 years trying to get various Trade
++Station systems developed in several markets, but they
++always failed in OOS tests.
++
++Worked with Neural Shell for 6 weeks: No luck. Got
++most of my money back.
++
++Just spent 6 weeks with another trading software
++package: No successful OOS performance that is even
++remotely tradable. Supposed to get my money
++back.
++
++And I've got programming skills, and scientific
++research credentials/publications from a previous
++career!
++
++I'm mad, and though I've been personally lucky so far,
++I'm tired of hearing about the men and women who spent
++big money on trading software, and ended up holding
++the bag (a lot of my friends). No one should have to
++spend money on trading software that is bogus.
++
++Now, after your post, I can get what I want cheap,
++work with it for as long as I like, and if I ever do
++get something that does work, I'll gladly
++go to the vendor, and buy the latest version at the
++retail price.
++
++Knowing that some sincere vendors do put in
++considerable cost and effort into their products, my
++conscience would push me to purchase the latest
++version, at the current price. After I know the stuff
++really works, and I can build a career on it.
++
++No more "30 day trials" that expire before I really
++have had the time to thoroughly research and test out
++trading software.
++
++Thanks from a grateful aspiring trader.
++
++********************************************
++
++Beyond sez:" Ok, Pierre, it's time to put up that
++.ela, or shut up. Prove your stuff works. No more
++beating around the bush, no more delays."
++
++
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