|
PureBytes Links
Trading Reference Links
|
At 08:05 PM 7/12/98 -0500, cb wrote:
>Neal Hughes wrote:
>>
>> OmniTrader uses optimization of multiple trading systems
>> (100 or so) to help you find the best mechanical systems for
>> any particular chart, and to find charts where multiple
>> mechanical systems (optimized) are firing trading signals
>> simultaneously. You should not expect to trade these signals
>> blindly, this is what causes people to feel ripped off, they
>> buy the system and then find that trading the signals
>> blindly does not make them rich..
>>
>>
>
>I have been involved in futures in a small way for about 2 1/2 years. I
>am still very much in the searching-for-a-method stage. Would
>Omnitrader be useful to learn what indicators are more valuable than
>others? While it does seems as a system it might be an optimized
>monster, i was wondering if you ran backtests on some rather long
>continuous contracts, if it would show which indicators tend to work and
>which (even if popular) dont'. Then you could concentrate on using the
>"good" ones in your own system. Any thoughts?
>
>I have found Babcock's book on systems and Le Beau/Lucan's book to be
>along these lines and interesting. Babcock's book in particular tested
>a number of indicator/strategies.
>I have Tradestation; so would OmniTrader be redundant, or would its
>automation (testing many many systems at once) be worth the cost, to
>learn about what indicators work and which don't.
>
>
Some will disagree with me (of course), but I suspect that the
result of your test would prove that _some_ indicators/systems
worked well on _some_ charts _some_ of the time in the _past_
but what will work best in the _future_ is not necessarily what
worked best in the past.
After spending a few years studying every indicator known, and
then creating some myself, I found that only after I specialized
on a few was I really able to trade them with confidence. It matters
less which indicators you pick, if you spend a lot
of time with 3 indicators, you'll become confident in using them
to "read" the markets. Mix a few leading and lagging indicators
into your arsenal, then focus on those consistently.
My 2c.
-Neal.
---
DiNapoli Fibonacci techniques -
http://www.fibtrader.com
|