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That previous email answered a lot of questions but I still wanted to get an opinion from anybody who has bought Walter Bressert's plugin for cycles on Metastock. Does anybody own it and what do they think of it? Is it really 70%+ accurate in identifying tops and bottoms?????
Any thoughts, anybody?
Al"Joe J." <jojab@xxxxxxxxx> wrote:
Terrance wrote:
"Please pardon my ignorance, but I realise that a lot of individuals would rather formulate your own strategies and trading systems. I reckon you're all geniuses and I do admit that I don't even have a basic comprehension of the formulas. The whole issue stumps me and I think I might need years to even get a useful understanding of the concepts. "
Yes, you will need years. There are no short-cuts in trading. My advice would be to learn, learn and learn before you trade. Read, study and educate yourself. Either that or just write a check now to all the so-called geniuses out there.
"Which is why all these plugins being advertised on the Metastock website and also other respectable sites attract my attention so much. At this point, I really do not know of any other available way that I could leverage upon to get into the market without it being a gamble. "
Again, read, learn and study.
"The thing is, if these plugins really claim to be filtered from the best of the best throughout time (constantly outperforming others), then wouldn't it be just worth while to invest in some of them and let them scan and predict the market for us? The way these plugins are being marketed, makes them sound like all you have to do is scan with the Explorer, use Systems Tester and Expert, and when everything clicks (signs of buy or sell signals), just take action and make your money. Is it really that simple? "
Terence, what do you honestly think? How many traders are listed in the Fortune 400? How many of those made their money from MS plug-ins? Go through the archives of this list or any other MS list. How many messages on the plug-ins say something along the lines of, "Wow, have you guys tried XYZ plug-in yet? I made a million bucks last month with no losing trades".
It is not to say that all MS plug-ins are worthless (although I don't personally own any - tried a few over the years but returned them all for various reasons) but to think that they might be a short-cut to trading success is a grave mistake in my opinion. For example, let's say you take XYZ plug-in out of the box and generate some buy signals. Let's say the first three fail. Now what? Is that normal? Why have they lost? Without in-depth knowledge of your indicators, money-management, etc. you won't know.
Good Trading,
Joe J.Post your free ad now! Yahoo! Canada Personals
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