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<TT>Traders,</TT>
<P><TT>A friend had me review some programs which he had gotten</TT>
<BR><TT>from Russell Sand in 1995.</TT>
<P><TT>When it became apparent that all this system was doing</TT>
<BR><TT>insofar as NORMAL entry and exit points was what Richard</TT>
<BR><TT>Donchain had proposed MUCH EARLIER and the moneymanagement</TT>
<BR><TT>in the program did not work, I rewrote this for my friend</TT>
<BR><TT>and the following is the initial part of the program.</TT>
<P><TT>The attached .ela file may prove useful.</TT>
<P><TT>If you are careful in how you use the "Donchain" concept</TT>
<BR><TT>it works.</TT>
<P><TT>Ross's comments about percentage losers fits with my</TT>
<BR><TT>testing so beware of the TURTLE -- HE MAY BE SLOW BUT</TT>
<BR><TT>HE IS DEFINITELY A SNAPPING TURTLE ! ! !</TT>
<P><TT>{</TT>
<BR><TT>System: Turtle #1,Restricted</TT>
<BR><TT>Notes : Short term system with one contract only</TT>
<P><TT> Seperate length for Highest High for Long Entries
and</TT>
<BR><TT> for
Lowest Low for Short Entries.</TT>
<P><TT> Allows definition of parameters (Length & Multiplier)
for</TT>
<BR><TT> money management
exit based on ATR.</TT>
<P><TT> Allows use of a trend direction function for entry.</TT>
<BR><TT> Where is close
relative to smoothed (hh+ll)/2</TT>
<P><TT> Allows definition of Beginning and Ending date for
trade</TT>
<BR><TT> simulation to
easily evaluate change of</TT>
<BR><TT> parameters over
specific time periods of</TT>
<BR><TT> same data set.</TT>
<P><TT>Original concepts from program(s) by Russell J. Sands</TT>
<BR><TT>those ideas Copyright July 1992 by Russell J. Sands</TT>
<P><TT>HOWEVER, the original idea for this method of trading</TT>
<BR><TT>seems to have been offered by Richard Donchian much</TT>
<BR><TT>earlier so Sands/Dennis probably were pulling people's</TT>
<BR><TT>leg about this aspect of their system. I would appear</TT>
<BR><TT>from the original code that some sophisticated money</TT>
<BR><TT>management scheme was envisioned but did not work as</TT>
<BR><TT>it was programmed.</TT>
<P><TT>Modified 1995-1998 by Clyde Lee, Futuresmagic (c)</TT>
<BR><TT>Copyright 1997,1998 --</TT>
<P><TT>The copy of the original Sands program that I</TT>
<BR><TT>was furnished did not work.</TT>
<BR><TT>I simplified the dickens out of it and</TT>
<BR><TT>tried to bullet proof and add "trend" help.</TT>
<P><TT>Released for EDUCATIONAL PURPOSES ONLY.</TT>
<BR><TT>THIS SYSTEM SHALL NOT BE USED FOR TRADING OTHER</TT>
<BR><TT>THAN SIMPLE TESTING PURPOSES WITHOUT AGREEMENT</TT>
<BR><TT>OF THE AUTHOR WHICH HAS NOT BEEN GIVEN AS OF THIS</TT>
<BR><TT>DATE (7/31/97).</TT>
<P><TT>NO COPYING OF SYSTEM CODE ALLOWED OR GENERATION</TT>
<BR><TT>OF CODE THAT PERFORMS SAME OR ESSENTIALLY SAME</TT>
<BR><TT>FUNCTIONS.</TT>
<P><TT>}</TT>
<P><TT>Inputs: enBars (15), {Number of Bars for HH or
LL for Long/Short Entry}</TT>
<BR><TT> exBars (40), {Number of Bars for LL or
HH for Long/Short Exit}</TT>
<BR><TT> atrMult(2.), {Multiplier for ATR
value to set entry stop}</TT>
<BR><TT> {Used to limit
risk from Entry Price}</TT>
<BR><TT> BegDate(650101), {begin date
for computation of p/l}</TT>
<BR><TT> EndDate(991231); {end
date for computation of p/l}</TT>
<BR><TT>
{set to 999999 to close on last bar}</TT>
<BR>
<P><TT>Kovacs, Ross R wrote:</TT>
<BLOCKQUOTE TYPE=CITE><TT>Do not accept the offer from Russell Sands.</TT>
<P><TT>The Turtle System is a two part trading system, one part for trading</TT>
<BR><TT>signals, the second part for money management.</TT></BLOCKQUOTE>
<TT>--</TT>
<BR><TT>- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -</TT>
<BR><TT>Clyde Lee Chairman/CEO
(Home of SwingMacine)</TT>
<BR><TT>SYTECH Corporation
email: <clydelee@xxxxxxx></TT>
<BR><TT>7910 Westglen, Suite 105
Work: (713) 783-9540</TT>
<BR><TT>Houston, TX 77063
Fax: (713) 783-1092</TT>
<BR><TT>- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -</TT>
<BR><TT> </TT>
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