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eASCTrend
- Thread starter todd960
- Start date
I went to the trading expo in Ontario, Ca. two years ago so I could take advantage of a discount they were advertising. So I'm at the expo and ask for a demo of a few stocks I mainly trade. They all show a negative balance for the past month trades. The salesperson quickly changes to a system with a stock he likes. I ask to see the system with a stock I choose and he pretends he can't hear me. I decide to purchase anyway with the intentions of canceling if I'm not satisfied.
Then he will not honor the advertised discount because they "don't like to give discount". So he takes me over to another Ablesys booth and that salesperson says "we don't like to give discount" and that the advertisement was a typo. It was only 10% off for crying out loud. Then they both start talking to each other in chinese which was kind of rude. I had enough so I told them I'm no longer interested in their product.
If they still have the bulletin board on their website, I would check it out. Seems like some users were getting whipsawed a lot, except for a few.
Bob
Then he will not honor the advertised discount because they "don't like to give discount". So he takes me over to another Ablesys booth and that salesperson says "we don't like to give discount" and that the advertisement was a typo. It was only 10% off for crying out loud. Then they both start talking to each other in chinese which was kind of rude. I had enough so I told them I'm no longer interested in their product.
If they still have the bulletin board on their website, I would check it out. Seems like some users were getting whipsawed a lot, except for a few.
Bob
I tried their version 6.0 Automatic.
For one, the program was full of bugs. I had the idea I was beta testing. One of the scanning functions (not the most essential though) did not work, caused crash. Another one gave problems with the fields to be filled in, found out how to work around that myself after a couple of days. They said they could not reproduce the problem themselves. Later they said they could, the problem occurred only with the Automatic verion they said, which is why they could not find it. I now afterwards think they were just pretending although I can't prove it.
Sometimes trading signals did not go off whereas the chart clearly went through its own stops and the stops changed color. I sent them the chart twice with all the info like reports etc. Then I got the answer: we need the parameters to judge what happened. Sent them the parameters again, but the next email they just didn't mention it anymore.
The scanning function they claimed "we 'll have that fixed on Monday". Which was after my trial was ended and I had no intention whatsoever to extend it, even though they offered a free two weeks extension.
So: Don't do it. it sucks as a software, and it sucks as a trading strategy.
Their so called backtesting reports are not what the name says. They are reports of simulated trading with parameters that have been optimized in hindsight. The idea is that you can use those parameters for the weeks following this "calibration" period, but the optimal parameters turn out to change almost day by day, so you're never sure whether you have the right parameters. With the pretty wide stops the system requires you to use, I assure you you will not feel comfortable.
There have been days that it worked allright. But obviously those were strongly trending days, and any indicator works in a strong trend. The losing days were more numerous though.
They say that you must have the discipline to follow the system in order to be successfull. Would you have that discipline if your profits are eaten away while your own favorite indicators say you should get out?
My main objection to their whole concept is that you are supposed to trade the same stocks all the time. You don't have to of course, but that's the idea what it's built on. When the trend reverses, you're not supposed to just get out, but to change your position from long to short v.v. Imho that means you never profit maximally from a strong rally.
But that's when you happen to be in a trend. In choppy markets it'll simply kill you.
If you after reading this still want to try it, in any case don't try their (cheaper) Automatic version, as it lets you scan for the right bar interval yourself which is extremely time consuming, and working with the right bar interval seems pretty esssential for the system's effectiveness.
Their website reports are of no use as an aid in working with the software, as it does not produce a time period in the past, only for periods untill now. I complained to them that that made testing the software without actually trading (sort of backwards papertrading) much more difficult, but they just kept pretending that they did not understand my question.
If you decide to try it anyway, I suggest you try to get a money back guarantee (although I doubt they'll do that). And also let us know your experiences with it.
For one, the program was full of bugs. I had the idea I was beta testing. One of the scanning functions (not the most essential though) did not work, caused crash. Another one gave problems with the fields to be filled in, found out how to work around that myself after a couple of days. They said they could not reproduce the problem themselves. Later they said they could, the problem occurred only with the Automatic verion they said, which is why they could not find it. I now afterwards think they were just pretending although I can't prove it.
Sometimes trading signals did not go off whereas the chart clearly went through its own stops and the stops changed color. I sent them the chart twice with all the info like reports etc. Then I got the answer: we need the parameters to judge what happened. Sent them the parameters again, but the next email they just didn't mention it anymore.
The scanning function they claimed "we 'll have that fixed on Monday". Which was after my trial was ended and I had no intention whatsoever to extend it, even though they offered a free two weeks extension.
So: Don't do it. it sucks as a software, and it sucks as a trading strategy.
Their so called backtesting reports are not what the name says. They are reports of simulated trading with parameters that have been optimized in hindsight. The idea is that you can use those parameters for the weeks following this "calibration" period, but the optimal parameters turn out to change almost day by day, so you're never sure whether you have the right parameters. With the pretty wide stops the system requires you to use, I assure you you will not feel comfortable.
There have been days that it worked allright. But obviously those were strongly trending days, and any indicator works in a strong trend. The losing days were more numerous though.
They say that you must have the discipline to follow the system in order to be successfull. Would you have that discipline if your profits are eaten away while your own favorite indicators say you should get out?
My main objection to their whole concept is that you are supposed to trade the same stocks all the time. You don't have to of course, but that's the idea what it's built on. When the trend reverses, you're not supposed to just get out, but to change your position from long to short v.v. Imho that means you never profit maximally from a strong rally.
But that's when you happen to be in a trend. In choppy markets it'll simply kill you.
If you after reading this still want to try it, in any case don't try their (cheaper) Automatic version, as it lets you scan for the right bar interval yourself which is extremely time consuming, and working with the right bar interval seems pretty esssential for the system's effectiveness.
Their website reports are of no use as an aid in working with the software, as it does not produce a time period in the past, only for periods untill now. I complained to them that that made testing the software without actually trading (sort of backwards papertrading) much more difficult, but they just kept pretending that they did not understand my question.
If you decide to try it anyway, I suggest you try to get a money back guarantee (although I doubt they'll do that). And also let us know your experiences with it.
todd,
If you are looking for an intraday trading system, you could do worse than going to www.futurestruth.com and reviewing what they offer. Tehy are a reputable system testing outfit and test virtually every available system. They will give you a private opinion letter on any system you choose or you can get their performance report. Considering how expensive systems can be, it's money well spent.
If you are looking for an intraday trading system, you could do worse than going to www.futurestruth.com and reviewing what they offer. Tehy are a reputable system testing outfit and test virtually every available system. They will give you a private opinion letter on any system you choose or you can get their performance report. Considering how expensive systems can be, it's money well spent.
Yep, and they have a top ten of systems they follow. They say this list keeps changing all the time, which as I see it demonstrates that all systems work for a while and then they don't anymore.
I think I noticed this at http://www.wealth-lab.com/ as well, performance dropping after a while.
Let's see what happens here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=2861 over the coming weeks.
I think I noticed this at http://www.wealth-lab.com/ as well, performance dropping after a while.
Let's see what happens here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=2861 over the coming weeks.
thanks for all the info, my probem is I know nothing about futures and am not sure if I want to start all over and try to figure out how those things work. Sounds pretty confusing. I've been watching one stock for the past six months just using 1min and 3min charts with stoschastics. And 1min/3min naz futures charts w/stos waiting for oversold or overbought conditions. I've just been to scared to pull the trigger. I'm undercapitolized after losing quite a bit when I first started out but feel since my stock which is "AMCC" is only a 12.00 stock (for now) I could make alright money scalping .10 off 2000 shares a couple of times a day. Since AMCC is so cheap it hardly moves more than 10 or 20 cents at a time, so If I'm willing to take a profit of .10 then how do I justify taking a stop loss for .10? That's what I can't figure out. Unless I'm right the majority of the time I'll never come out ahead.
I am not big fan of mechanical systems but I saw these guys were running a paid trial, I was just wondering if anyone has any experience with them, they were ranked well by sandc mag so they seem to be legit, just looking for some experiences has or does anyone use this software, thanks.