I am not sure if I can talk too much about this program listed in the above post on ET...They might ban me..... If you are a user of that useful program I listed above then PM me...I do not think Baron would appreciate me furthering this program anymore.... Michael B.
Well guys, Holy Grail, it ain't, that's for sure. I went long only, as Electric Savant suggested, and this improved me at best to 44 %, with overall net profit loss. This was for Dow Stocks and SPY. With low-beta NYSE stocks, results were much worse overall. My test period, BTW, was from 1989 - present, for Daily Bars. Last 3 months of data for 1-min bars, with similar results. Herein lies the value of backtesting, and my investment in Wealth Lab. One cannot just look at a chart for a couple of days or weeks, and think they have a good system. Although there is slippage with these back-tests, the results will always give you a very good approximation of real-world trading. These studies and posts intrigued me, but I'm onto something else....Elder may be a great mathematician, but he sure as heck isn't making any money trading his algorithms......
Hi hayman, Glad to hear you feel that you got a bit wiser. But why would you then suppose that Elder is a great mathematician? Maybe he wouldn't even qualify as a small mathematician. Perhaps we better put him with the other non-backtested sacred cows. nononsense
NoNonsense, I always give the benefit of the doubt to all, until proven otherwise. Yes, you are correct. Elder may be nothing more than a crackpot at best. Thanks for your messages. Regards, Doug
I tried to think what I was doing.... Your back test should buy 1/2 hour or more after the open. Also on exits too.... Also beta was not the only criteria....I rank the stocks with an involved criteria to give me a universe that would skew the results... I also use a "time series forecast" and a "price envelope" for confirmation... Also I do not enter during a bearish general market trend(intermediate). This cycle length is 10-30 days..... My goal was to accomplish an outperformance of the SP500 and my entries and exits are not precision...but more of an investment philosophy....This portion of my portfolio, I generally do not think is ET material... Michael B. P.S. do not discount the use of the multiple periods I use...that you did not use in your backtest...You are very quick to rely upon your data.....
I'm looking to trade DOW Futures. I've got Sierra Chart with a live MyTrack feed - What are the suggested settings for ADX/DMI+/- i plan to use 1 min/2 min or 5 min charts.
NYC Hotshot great thread .... It's unselfishness like this that makes ET great ... thanks I owe you one. I've been watching it today on CSCO and easy .20 cents today. Is anyone trading futures with this technique?
NYC - We haven't heard from you in awhile. I hope your doing well. I had one question and I was wondering if anyone else has had this experience. I have tracked this method for about 10 days now and it seems OK. I'm finding that on a 1 minute chart with a .05 target CSCO and using the red/green cross as a stop or bail. I miss out on some good moves and get chopped up allot. Has anyone found any other good filters to keep you in or out of these trades. ? Thanks....