I don't know how long this thread will last before the moderator deletes it. Mark is a vendor, but he is too cheap to become a sponsor of ET. Instead, he interfers with other people's threads to promote his products. I am starting this thread for him, so that he can have a place to hang his hat. He does not have to hackle in other people's threads anymore. All discussions about him, his tactics, and his strategies may be carried out here.
<img src="http://newsletter.neoticker.com/wp-content/OddballSystemEquity.gif"> Here's the equity curve of the system. You can see it performed well during the internet boom, but fell flat on its face in the past years. ref: http://newsletter.neoticker.com/?p=60
Mark Brown has given out many free trading systems throughout the years. Give him some mechanical rules for a Jack Hershey trading method, and maybe he would code something for us. It will be great for everybody to see how Jacks methods backtest!
What a great idea. I would love to see a backtest of SCT, I am sure it would be a very active thread. I don't think it would return 3 * H-L as Jack suggests however.
Neoticker code of the system: Code: # NEOTICKER DATA BEGIN ScriptType=Indicator Description=OddBall System Name=OddBall Language=Formula Links=2 MinBars=0 TimerInterval=100 MetaStyle=Normal ValueRange=Same as Source Placement=Smart Multiplot_num_plots=1 Multiplot_color_0=255 Multiplot_style_0=Line Multiplot_width_0=1 Multiplot_enabled_0=1 Multiplot_breakstyle_0=0 UpdateByTick=0 TradingSystemUI=1 PrimaryLinkOnly=0 NotifyOnRemoval=0 Param_count=3 Param_name_0=Period Param_inuse_0=1 Param_type_0=integer.gt.0 Param_default_0=7 Param_name_1=Long Threshold Param_inuse_1=1 Param_type_1=real Param_default_1=3 Param_name_2=Short Threahold Param_inuse_2=1 Param_type_2=real Param_default_2=1 Explanation_Lines=0 # NEOTICKER DATA END ' Oddball System ' originally created by Mark Brown ' adapted to NeoTicker by Lawrence Chan plot1 := currentequity; myroc := roc (data2, param1); longatmarket (xaboveconst (myroc, param2), defaultordersize, "Long"); shortatmarket (xbelowconst (myroc, param3), defaultordersize, "Short"); ref: http://newsletter.neoticker.com/wp-content/oddballsys.for
Seriously, lets backtest Jack Hersheys methods! It would finally place Jacks methods in proper perspective. Everybody here at ET would be interested in what the equity curve would look like!
Since a screenshot from our blog is shown here, got to clarify the following, 1. As far as I remember, the Oddball system was released to the public for at least a year and a half before the peak of the equity curve shown in the screenshot. 2. The instability of the advance issues data was very clear since last part of year 2000. As a summary, if you understand clearly the principle behind OddBall, then you should benefit from the system and should be able to adapt that to the current trading environment. Mark has given a lot to the trading community for many years. His contribution should be recognized and put into proper perspective.
Which is a very interesting coincidence considering that the system was shown to the wider public in the December 2000 issue of Active Trader magazine. http://www.oddballsystems.com/active.shtml
Quote from marcbrown: Jack Hersheys rules are in the back pocket of "the kings clothes" written on an invisible piece of paper... don't you see them? Jacks cult member's do see the invisible paper.... what's wrong with us. It's easy to see that Jack's method isn't a realtime method: Look at an indicator at the right edge of the chart. How will it change? That depends on what happens in the next 5-min interval. It may indicate something entirely different when the next 5-min interval is in! Strictly hindsight.