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Mike,
I was quick because I didn't want to do what I was getting ready to
do. LOL.
Best regards,
Jimmy Snowden
mailto:jhsnowden@xxxxxxx
Monday, February 2, 2004, 4:54:56 PM, you wrote:
mb> Jimmy,
mb> Was trying to get off a reply, but damnit you beat
mb> me to the punch line!
mb> I totally agree.
mb> since I already started my reply, I'll finish up later
mb> and fire off my observations as well..
mb> too funny..
mb> thank you for sharing,
mb> michael
mb> --- 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
>>
mb> === message truncated ===
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