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Jimmy,
Was trying to get off a reply, but damnit you beat
me to the punch line!
I totally agree.
since I already started my reply, I'll finish up later
and fire off my observations as well..
too funny..
thank you for sharing,
michael
--- Jimmy Snowden <jhsnowden@xxxxxxx> wrote:
> Hey Ron,
>
> When you sign this email Tradestation 7 Easylanguage
> Specialist does
> that mean that you are or have ever worked for
> Omega/Tradestation? If
> so then it is true there is no system that makes
> money commercial or
> non-commercial.
>
> If you do no nor ever have had a position at
> Omega/Tradestation then
> yes there are plenty of systems that make money
> trading the eminis.
> Yes some are totally automated, but I don't have
> one. I'm scared of
> totally automated. I don't sell systems and wont
> sell you one but I
> have a bunch of systems that work. I would never
> trade them but they
> do make money. They are designed to work on the S&P
> and NASDAQ eminis
> but not both without adjustment. Serious
> adjustment. Yes they hold
> up long term. I'm a discretionary trader so
> mechanical systems are
> fun to build but I can't build one to trade the way
> I do.
>
> I would never buy a system from a vendor. I could
> never trade
> a system that didn't suit my trading beliefs. I
> figure nearly all of
> them are trash or will be soon anyway. Just my
> opinion. Ask yourself
> why would anyone sell a system. If they can't trade
> it themselves why
> don't they hire a monkey to do it for them. They
> will make more in
> the market than they ever will selling systems.
>
> So my BS is all opinion because I don't trade my own
> systems. I'll be
> glad to send you a report on the one I'm working on
> but I don't
> trade it so what value will it have?
>
> Send me the whole history of the emini NASDAQ in
> TS2ki format or ASCII
> and I will test it on all the data and send it to
> you. Otherwise I
> can only send you a few months of testing. Better
> yet change your
> approach to the market and build your own system.
> One really smart
> guy posted to this list quite some time ago that you
> need to see
> something in the market that works then code it.
> Now that isn't
> exactly how he said it but it is close enough.
> Think about that.
> They guy knows what he is talking about. Take any
> pattern that
> happens then code it up. If it doesn't work then
> figure out what the
> difference is between when it works and when it
> doesn't. Then code
> that in. The guy that builds a good system is the
> guy that can see
> what the market does and he can also figure out how
> to code it. I'm
> al lousy coder but I can see the market pretty fair.
>
> Then the really big trick is if you have the system
> can you actually
> follow it? Can you do what it tells you? That
> alone probably takes
> more than half the traders that buy or build a
> system out of the game.
>
> Anyone agree with any of that BS?
>
>
> Best regards,
> Jimmy Snowden
> mailto:jhsnowden@xxxxxxx
>
>
> Monday, February 2, 2004, 3:48:37 PM, you wrote:
>
> RH> I would like to entertain/stimulate a discussion
> about the myths/truths of
> RH> emini stock index futures day trading systems. I
> have done a lot of research
> RH> on this subject, and I'm not just trying to bait
> or badger system ideas out
> RH> of anyone. I am sincerely interested in testing
> my own theories and debating
> RH> the topic with others who share my
> interest....so here goes:
>
> RH> My 8+ years of research so far on this subject
> has led me to hypothesize the
> RH> following:
>
> RH> 1. There is no proof that anyone has made money
> consistently using a 100%
> RH> mechanical system to day trade emini stock index
> futures. This is not meant
> RH> to insult those who claim to be doing so, or to
> call them liars. I am
> RH> well-aware that many CLAIM to be making money
> consistently day-trading a
> RH> 100% mechanical system on eminis, and I
> sincerely trust the honesty and
> RH> integrity of these people. However, I have seen
> no PROOF that anyone does it
> RH> consistently, year-after-year. I don't know or
> care how it would/could be
> RH> proven, I just want to state my hypothesis that
> no such proof is available
> RH> to the public. In other words, "the suggestion
> that one can day trade the
> RH> emini stock index futures with an automated
> system has not been publicly
> RH> proven."
>
> RH> 2. One of the most "robust"
> commercially-available 100% mechanical systems
> RH> for day trading the big S&P contract is the
> R-Mesa program. This conclusion
> RH> is based on my search for the last 8 years of a
> viable system for trading
> RH> the eminis. I have learned a lot about
> curve-fitting and "robustness." I
> RH> understand that most systems are simply fit to
> past data. However, judging
> RH> by published track records for every commercial
> S&P system I've ever seen,
> RH> R-Mesa seems to be the only one that has
> performed consistently since 1985.
>
> RH> I have asked the developer of R-Mesa (John
> Ehlers) and others about using
> RH> mechanical systems on the eminis. The consensus
> seems to be that even the
> RH> best big contract S&P systems will not "work" as
> well on the eminis, and
> RH> that maybe NO system can work on the eminis.
> These ideas have led me to the
> RH> following "master" hypothesis:
>
> RH> 3. There is no commercially-available 100%
> mechanical system for day trading
> RH> the emini futures that can show a "reasonably
> robust" performance record
> RH> over the entire life history of the emini
> futures (works on over the
> RH> life-of-contract for all 7 emini markets <2-7
> years depending on the
> contract>>). If such a system exists, then it is in
> very high demand and
> RH> would become well-known to the public very
> quickly. Therefore, I have
> RH> concluded it is "reasonable to assume" that no
> such system has been
> RH> available since the emini futures began trading.
>
> RH> Okay, those are three of the hypotheses I'm
> working with. I would appreciate
> RH> an opportunity to discuss/debate this topic with
> others....assuming anyone
> RH> else shares my fascination about this. I have
> even thought about writing a
> RH> book about this, and I'm hoping that creating a
> thread here will help me
> RH> gauge public interest in such a book. Maybe it's
> old news and I'm just slow
> RH> to realize what everyone else already knows.
> Maybe I've missed some
> RH> important information, or maybe I'm missing out
> on some great opportunities
> RH> to become an emini systems day trader.
>
> RH> I'm just another wannabe trader like everyone
> else. I've never made a dime
> RH> trading futures, and I don't claim to have any
> secret power to help anyone
> RH> else do so. I'm just a Tradestation "enthusiast"
> who's fascinated by the
> RH> mystique and fantasy of day trading the emini
> futures. I'm currently trading
> RH> a system on the YM, but I feel my expectations
> are reasonable. I don't
> RH> "expect" the system to make money, and I've
> accepted it as at least 50%
> RH> possible that I willI lose the max drawdown
> amount ($4000.00) of my system.
>
> RH> I understand that there might be system-assist
> brokers or system vendors of
>
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