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I really appreciate all that JO has contributed and will take
anything he has to contribute in any method he chooses.
I just joined this forum yesterday so I haven't had time to go
through the archives. I have been a member of the other Yahoo
Metastock forum for the past few months. I have been trading just
over a year and will describe how JO posts have helped me.
His Metastock Pluggin reviews are invaluable. The trading systems
he and other have given us and the steps he took in designing them
are very educational. Just about all of his posts have valuable
information that should be read and seriously explored. I bought
the following pluggins recommended by JO: Maridome and ICE.
JO described how much he liked Maridome pluggin and data and also
mentioned a few authors that used Sentimental Analysis. I bought a
book by one of the authors ("Big Trends in Trading" by Price
Headley) and bought the Maridome pluggin. I read the book, plotted
some of the sentimental indicators in a chart with the major indices
and then studied how well the indicators anticipated what the market
was going to do. Just from one market reversal anticipated by the
sentimental indicators I made some very profitable trades that
easily paid for the pluggin and the data subscription for a year.
This all took place during the 30 day trial period. I now use
Maridome data every day before considering a trade. I probably
wouldn't have tried the pluggin or have bought the Headley book if
JO didn't mention it in his post.
I bought and downloaded the ICE pluggin after JO's review of it. I
got the same incomplete manual that a lot of people have complained
about. However, I could see the benefit of a pluggin that helps you
nail trade entries. Normalizing indicators and using a common exit
for all systems seems like a very logical way of comparing
indicators for trade entries only. (Getting Metastock system tester
to exit the way I wanted to with trailing stops has been very
frustrating, so I have not done a lot of system building yet.)
I followed the third approach in the ICE manual which was to test
many systems against a single security. I made a list of stock and
EFTs that I like to trade. I followed the steps in the ICE manual
for each stock. ICE told me which indicators works best for that
particular stock or EFT. (I didn't really care what the code for
the system were, I just wanted to see a relative comparison of the
indicators.) I then added the top indicators to a chart for the EFT
and looked at its performance for entries. Again this is what JO
mentioned in one of his post.
This very simple process opened my eyes to many indicators that I
never would considered. I think ICE is a great tool for giving you
a starting point to building a system for a stock or EFT. As I
learn more about writing systems I can see using ICE's IntelliStop
exit to work on just the trade entry section of any new system that
I design. I could even replace all of the Metastocks Performance
System Plus exits with IntelliStop exit and then compare their trade
entry performance. (I don't think JO recommended the Performance
Plus system pluggin. I bought it before I joined the Metastock
forum. I liked it because it has some pre-built systems that I
could examine.)
As for JO's posts, I now copy all of them to a file on my hard
drive. I can then print out the file and read his post a few times
offline. He has a lot of knowledge and experience. Sometimes just
one of his casual comments can give you a big boost in your trading
performance.
I am sorry this message is so long but I am truly baffled that JO
has received so much grief for contributing so much. I really
appreciate all that he has contributed.
James Patterson
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