|
PureBytes Links
Trading Reference Links
|
Me too neo
Theo
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
neo
To: <A title=metastock@xxxxxxxxxxxxx
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx
Sent: Thursday, November 30, 2000 10:14
PM
Subject: RE: A newbie's first
question
I
agree that a severe limitation of MetaStock is the lack of a Portfolio
Manager.
<SPAN
class=210421321-30112000>
<SPAN
class=210421321-30112000>neo
<SPAN
class=210421321-30112000>
<FONT face=Tahoma
size=2>-----Original Message-----From: <A
href="mailto:owner-metastock@xxxxxxxxxxxxx";>owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Lionel
IssenSent: Thursday, November 30, 2000 12:31 PMTo: <A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxxSubject:
Re: A newbie's first question
Put all the stocks you own into a separate folder,
then you can follow them easily.
Lionel Issen<A
href="mailto:lissen@xxxxxxxxx";>lissen@xxxxxxxxx
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Bill
Irwin
To: <A title=MetaStock@xxxxxxxxxxxxx
href="mailto:MetaStock@xxxxxxxxxxxxx";>Mail List - MetaStock Submit
(E-mail)
Sent: Wednesday, November 29, 2000
11:48 PM
Subject: A newbie's first
question
Hello list members:
I'm a brand spanking new MS owner
(7.03 EOD) and I've just spent the last three days going over the Getting
Started, DownLoader and User Manual. I have to say that, aside from
some keyboard weakness in the Browse dialogue boxes, I'm impressed with
the software's number crunching ability and, what appears to be (at this
early stage), it's configurability for tuning. I'm far from being a
technical expert (which will soon become glaringly apparent to you) so I'm
feeling more than a bit overwhelmed at this point.
After scanning the entire contents of
these three manuals, and reading a good deal of them, I haven't seen any
mention of where you tell MS that you've taken a position, so that it
would know to alert you to exit. The only thing I can think off (at
this early stage) is to attach an exit alert to a stock when you take a
position and to remove the alert after you exit so that you aren't alerted
when you're out.
What I'm hoping to be able to do is to
update prices daily, then run an Exploration across all the stocks that
will alert for buy/short on stocks I'm out of and alert for exits on
stocks I have positions in. Then review the alerts, make my trading
decisions and book my trades for the next day. I know this must
sound very naive to those of you who know MS but we all had to start
somewhere, right?
Perhaps some of you could give me an
overview of your normal daily activities, aside from the arduous task of
testing new systems and tweaking the indicators in search for the optimal
system. I know I have a lot of work ahead of me just to get a basic
understanding of the indicators, so for now, I'm just working with the
canned ones. Getting a feel for how some seasoned users use the
software each day would go a long way towards helping me know where I
should be focusing my time at this point.
I never expected MS to be a portfolio
manager but I thought it should at least know which stocks I have a
position in so it knows what and when to alert me.
Thanks for any advise and suggestions
you may be willing to share with me.
New List Member Bio: I've
been interested in technical analysis ever since I bought my Commodore PET
2001 (circa 1978) and became fascinated that this 40 column screen, 8 Kb
RAM, cassette tape I/O device could be programmed to follow my
instructions. I typed in a program (Commodore BASIC) I found in a
magazine that monitored stocks and enhanced it to (among other thins) be
able to scale the chart so that the 18, or so, horizontal lines I had
available would be fully utilized regardless of the unit value. It
taught me how to be very frugal with my coding as every module had to fit
within the approx. 6 Kb of code space I had available after the data
arrays were loaded.
The program used a 5, 15 & 40 week
simple moving average and buy alerts were triggered when the 15
was below the 40 and the 5 crossed above the 15, indicating the
bottom may have been reached. The buy alert operated the other
way. There were no online data feeds in those days (at least not
ones that the average mortal could afford) so I weekly keyed in the
closing prices for the 50 - 60 stocks I followed from the Saturday
paper. The only criteria I used in picking which stocks to follow
were: I had to be able to pronounce it; the annual high/low spread was
around 100%, so I had stocks that cycled ... somewhat.
Using this primitive system, and
accounting for trade commissions, I was able to generate (on paper) an
annual return of 30% - 35% over a 3 year period. This experience
convinced me that even a simple mechanical system could, if emotions were
eliminated, generate superior returns. I have no idea what the TSE
market was returning in those days (1982 - 1985), but I doubt it was
30%. The problem back then was that what few programs existed were
way too expensive for my budget (What budget? In those days it all
went on beer!). This was way before Windows.
I recently became a victim of
corporate downsizing (anyone been following GAC.TO for the last 2 years?)
and lost my job after 15 years of continuous employment - exactly 1 1/2
years after my previous employer was acquired by Geac. The
reasonable severance I was able to negotiate has given me both the time
and the funds to finally see if I can really do anything meaningful with
technical trading. After browsing all the indicators described in
the MS manual I feel inclined to build my old 5, 15 & 40 MA system and
see if it can still generate 30%, and forget about the steep learning
curve I know awaits me!
Actually, I'm hoping that over the
next few months I can build a reasonable understanding of some of the
indicators and develop proficiency in MS so that I can paper trade to a
point where I have some degree of confidence in whatever "system" I come
up with. An unrealistically optimistic scenario would be me, in
6 months, responding to my wife's questions about when am I ever going to
get another job, by stating that I'm making more money trading than I was
in my old day job. I know. I hear you all muttering, "What
a dreamer this guy is!" I would like to get there some day and
I know it won't happen in 6 months.
Anyway, I plan to be a regular reader
of this list, in addition to some technical trading newsgroups, and would
welcome any suggestions you might be willing to toss my way - especially
those things you've learned that made you say, "Now, if I'd only
learned this when I first got into TA trading..."
Profitable trades,
Bill
<A
href="mailto:Bill-Irwin@xxxxxxxx";>Bill-Irwin@xxxxxxxx
|