Before you get a bunch of cracks about Betty Crocker, let me post the link: http://www.tradingrecipes.com/
Here's what I think, this is the second website that I have been on today that said about the same thing. If it really worked never in a million years would they be selling it for $3,000. Second, trading 15 futures markets at the same time does not seem like the most workable strategy for anyone other than a very well funded trader. If it were my money, and I were looking for a simple Trend Following System, I would buy William J Oniels "How to Invest in Stocks" $14 Bucks A monthly subscription to TC-2000 $29 bucks A daily delivery of IBD $175 bucks Not getting ripped off for 3 grand PRICELESS!!!
Actually Trading Recipes is not a buy when the you see a green arrow<>sell when you see a red arrow newbie rip off black box junk type of thing at all, he just included some simple systems for demonstrating purposes thats all. Actually what it is is a great software for backtesting multi portfolio trading and money management strategies, the latter being the only holy grail if ever there was one, that's all, and was actually the only such software available for backtesting that before Wealth Lab started working on something similar recently. The guy selling Trading Recipes is a CTA running a fund, that's also the reason he wrote the software for himself to backtest position sizing strategies, and then he started selling that, but the two ventures are otherwise completely seperate. If you want more info on the software check out chuck lebeaus discussion board: http://www.traderclub.com/discus/board.html
It just seems to me that Testimonials and Audited Financial statements are two separate things. I see the testimonials, am I missing the Audited Financials??
I guess the way you need to think about Trading Recipes is that it's exactly like Omega's Tradestation or WealthLab, meaning it's a software that let's you develop and backtest gazillions of mechanical trading strategies yourself, no more and no less, and then on top of that, as does Wealth Lab these days, it's got the added feature of allowing you to backtest with numerous money management strategies as applied over a whole portfolio of different financial instruments or just one, depending on your needs. So, where Tradestation told you what would have happened with say a single contract using some system you yourself had written and backtested, Trading Recipes or Wealth Lab these days show you what happens when you add the crucially important money management as in different position sizing strategies to the equation. So it's just a backtesting software, not some crummy black box system. Regards
Trdrmac, You misunderstood the info on TR's webpage entirely. TR is not a system; it is a system development tool like TS and Metastock. TR has features that TS and MSP don't have: test an idea across securities, ie, do a portfolio test. It also has the ability to create bet sizing rules and risk management reules. You can run multiple systems together, ie, create a portfolio of systems. I use TR as my primary development and trading tool although I own TS because that allows me to look at ela ideas. If I find anything that interests me, I re-write the idea in TR. TR lacks one of TS's big features - optimization. Personally, I think that is a plus. TR is not as sexy looking as TS; it's DOS based. It would be nice to have better visuals but it's not a big deal for me. The language is a great deal easier to use than TS's - there are none of the voluminous manuals that come with TS. I would highly recommend TR but not for the beginning trader. The beginning trader should keep his costs down - use Excel or buy a second hand (not hacked version) of TS. If the beginning trader survives, then have a look at TR. Regards, Mike
... for all opinions. I agree that tool is a tool, there is no magic to it. For my personal use combination of TS and Excel gives me what I need, but there always can be better calculator to put the things all together right ? Also, open question for me is whether trading software biz is more profitable than trading biz itself ? Let me know
There is no doubt in my mind that it is more profitable to sell "something" than it is to use it, or why sell it? About a year ago I went to a local guys seminar, stock splits, rolling stocks, covered calls, basic Wade Cook stuff. There were probably 50 people in the room at $400 a pop, (well 49, I went with my girlfriend who paid). That's good work if you can get it. I went back and looked over the site and my opinion has not changed. Backtesting does not ever seem to work as well in the present as it did in the past. Certainly there are exceptions to this. There is supposed to be a magazine called "Futures Truth", I read about it in "How I Trade for a Living", by Gary Smith. Apparently they rank the various systems on the market. Happy Trading