|
PureBytes Links
Trading Reference Links
|
RT,
This is my first post, and just want to say how much I enjoyed the
forum.
Re Robert Miner's DT program, I have been using Version 1 in conjunction
with SuperChart for about 8 months, and have just received the updated
Version 2. I've never used GET but have reviewed all their promotional
materials and demo. DT doesn't come with an auto Elliot Wave counter.
I have traded with Elliot Wave for around 7 years and believes that to
trade EW, it will require study, thought, knowledge, and yes, even
occasionally, judgment. If GET provides an Elliott wave count on each
and every data file, it assumes there is a valid and practical EW count
on every data series. I think GET will force to provide a wave count if
none existed. I agree with Miner in that EW is clear and tradable about
50% of the time. The other times, you have to use others tricks and
tools. Version 1 is slow on a 486, you will need a faster machine. I
think the code is not as well written as it should be. However, version
2 is a great improvement with new tools, such as Gann fan lines and
price and time square, which I don't use. Regardless, Miner's
methodology is very valid, and his push for a simplified and tradable EW
approach and adding simple bar patterns (ie. candle stick) for entry is
right on the money. His software comes with a study course which is
one of the most realistic course in this over hyped market place. If
you're looking for an automated approach, DT is not for you. But if you
want to understand a valid methodology and willing to spend the time to
master it, AND if you think that EW is a approach that might match your
personality, DT is the way to go. There is some similarity between DT
and Nature's Pulse (I think in the time and price forecast area, please
correct me if I am wrong). You might want to check out NP if time and
price is the only thing you want to do.
Anyway, I see a lot of posts re simplifying your approach. I would like
to add to that with an approach I used to help out new traders. This
approach has helped me evolved to be a better trader. Here it is:
1. If you are a new, start with a simple mechanical trading system. It
doesn't matter what it is (nice if is profitable, break even is fine).
It is best if it is not a stop and reverse system because you want to
learn how to take losses. Focus on the stops. Your goals are not to
loss that much money, take losses, and love it!
2. Continue to learn about the market and new techniques and systems.
You will revise your system every so often. The only rule is that FOR
EACH NEW RULES YOU ADD TO YOUR SYSTEM, YOU MUST SIMPLIFY TWO EXISTING
RULES OR TECHNIQUES by combining or just throwing them out. Your goal
is to simplify to a point where you could basically trade with just a
bar or candle chart (It doesn't mean that you will). Anyway, learn so
you can forget. Oh yeah, here's a rule, for every new book you read on
techniques, balance it out with one on psychology. You will not
appreciate what these books are all about until you have traded for a
while. Save these books and go back to them for reviews. One more
item, GET or other software or overpriced seminars, I have not seen a
software that will make you a better trader overnight. Good traders
don't really need any fancy software. No substitute for passion and
hard work.
Good trading!
Willard
> ----------
> From: Tony Golan[SMTP:tonygol@xxxxxxxxxxxxxx]
> Sent: Wednesday, January 28, 1998 10:36 AM
> To: realtraders@xxxxxxxxxxxxxx
> Subject: GEN: Robert Miner's Dynamic Traders
>
> Can users of Robert Miner's Dynamic Trader please
> post your experience with the software ?
>
> Especially if you have experience with Advanced GET ?
>
> Thanks in advance,
>
> -Tony.
>
|