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In my opinion, points only is the only way to test futures and a poor way
to do it at that because of horrendous difference in point value for the various
commodities. For example a point value in each of the following: Lumber
$1.10; Hogs $4; Soy Oil $6; Dollar Index $10; and on up to Wheat $50. I
suggested to MS many years ago to alleviate this problem by having
the System Tester allow the user to enter a table of dollar point
value for each commodity code. They of course never even replied.
Equis treats Futures/Commodities as the ugly step sister of stocks in
MS.
Jay
<<Points only option is the best way to test
futures.In futures each point represents a fixed dollar amount. These
dollaramounts vary depending on the future.For example the big
S&P500 contract is worth $250/point while the emini S&Pis worth $50,
and the emini NDX is worth $20.When you get into the grains, livestock, and
other commodities the varianceis even more.So in testing a future
the equity curve is most relevant in points as theequity curve in dollars
derived from the price has little meaning whencomparing one future to
another in a given
systemTom>>
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