[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

AW: AW: Wealth Lab - was - Wealth Crap



PureBytes Links

Trading Reference Links

Ales.
See you know more than I do, and it is good that we communicate here. We
will research it and then we will include the contract value and margin for
the set contracts. Coming from germany I guess there is a chance we use some
short cuts that you use in the US too like DX????

And I will pass on your question to the "Master" :-).
Will be back.


Volker Knapp
Wealth-Lab Inc.
http://www.wealth-lab.com
http://www.wealth-lab.de

  ++-----Ursprungliche Nachricht-----
  ++Von: Alex Matulich [mailto:alex@xxxxxxxxxxxxxx]
  ++Gesendet: Mittwoch, 27. Februar 2002 23:03
  ++An: omega-list@xxxxxxxxxx
  ++Betreff: Re: AW: Wealth Lab - was - Wealth Crap
  ++
  ++
  ++Volker,
  ++
  ++>++ I think he means that he would like to see Wealth Lab maintain a
  ++>++ database of all the different futures contracts specifications.
  ++>
  ++>Since we are not a data provider (yet) we do not maintain a
  ++database. But
  ++>you can specify your own futures contracts with
  ++>
  ++>1. point value
  ++>2. margin
  ++
  ++These things are pretty much invariant; they don't depend on the
  ++data provider.  They are basic facts about a futures contract, like
  ++trading hours, point values, option strike increments, minimum
  ++allowable movement, and so on.  There is no reason to have to input
  ++all that manually.  If I tell the software that the root ticker
  ++symbol is GC, the software should immediately configure itself for
  ++Comex Gold, using $100/basis point.
  ++
  ++I say again, this is a pretty basic requirement for futures traders.
  ++
  ++>We plan to do that with our own data. It is impossible to know that
  ++>for any software, because every data vendor uses different names
  ++>for different future contracts.
  ++
  ++That's false.  The names, and especially the ticker symbols, are
  ++pretty well standardized, with just a few minor exceptions like JO
  ++vs OJ for Orange Juice, or GO vs GC for gold.
  ++
  ++>This will be added once we have our own data. Also margin
  ++>is changing all the time, so is point value from time to time.
  ++
  ++Margin requirements do change, but there still should be a database
  ++of them for the user to change.
  ++
  ++Point values rarely EVER change.  100 ounces of gold will always
  ++have the same point value, forever.  The only time it may change
  ++is if the contract size changes, for example when Lumber went from
  ++160,000 to 80,000 board-feet.  That is a rare occurrence.  Again,
  ++there's no reason not to maintain a database of these facts --
  ++ESPECIALLY for anybody wanting to analyze a portfolio of contracts.
  ++
  ++>Most people want to use there data provider, so we would like
  ++to allow them
  ++>to use any data vendor. Of course that means additional work.
  ++
  ++The only differences are data formats, like how dates are
  ++represented, whether the data are tab or comma delimited, etc.  Not
  ++many differences.  I wrote an import routine to support 5 different
  ++data sources once.  It's not hard!
  ++
  ++>++ This is a critical feature, *especially* when testing
  ++>++ a portfolio of futures, all having different point values and margin
  ++>++ requirements.
  ++>
  ++>You can adjust that on your own... very easy.
  ++
  ++Does the software remember that ES is $50 and SP is $200 and O is $25
  ++(or whatever)?  In other words: is there a database?  Or is it something
  ++the user has to set manually for every situation?
  ++
  ++>I think most of your concerns are solved already. I see WLD2
  ++as a mixture of
  ++>Trading Recipies and Trade Station 2000i. I must admit WLD2 is
  ++very complex
  ++>and has so many feature that even out hardcore users dont know
  ++them all. But
  ++>surely not all requests are included yet.
  ++
  ++That's nice to know.  Now if only you could fix the language to be more
  ++EL-like and less Pascal-like, without the need for bookkeeping....
  ++
  ++While I have your attention, here's one feature I would really
  ++like to see -- let me know if you've done it:  I want to be able
  ++to optimize custom results.  TS2000 lets you optimize net profit,
  ++win/loss ratio, and a bunch of other canned analysis results.  But
  ++suppose I had my own version of the Sharpe Ratio, or my own idea
  ++of how to measure system performance, and I could express it in a
  ++function?  THAT's what I'd want to optimize, not what the software
  ++already provides.  I'd like have available an empty function whose
  ++result the optimizer checks, and that function I'd fill in with my
  ++own code, using inputs like equity, number of trades so far, length
  ++of time in trade, and so on.
  ++
  ++--
  ++  ,|___    Alex Matulich -- alex@xxxxxxxxxxxxxx
  ++ // +__>   Director of Research and Development
  ++ //  \
  ++ //___)    Unicorn Research Corporation -- http://unicorn.us.com
  ++