Anyone know the answer to this??
That would be my first question. Until I get an answer that convinces me that they're able to make money (or at least not LOSE money) in this market then I would not part with $6000 of my hard-earned. And remember, $6000 is worth more than what it used it be...LCDs, and cars have gone down in price!
Anyone know the answer to this??
Their R&D provides good analysis of extant systems and those developed by them, in order that members can then develop their own and trade them. The backtesting regime used in HT is probably the best there is, which includes elimination of survivorship bias in the backtesting database prepared by HT. As for making money, the best system developed will lose me money if my head is not in the right place. HT provides absolutely excellent tools to develop systems and the rest is upto the individual trader.
That would be a great improvement in backtesting. However, with due respect, as good as TradeSim is for what it does, I reckon that in capable hands, Amibroker is a vastly superior product for backtesting. Used with appropriate database and using Signal ranking available in Amibroker, MonteCarlo testing becomes redundant and the backtesting accuracy improves vastly. This is just my opinion.
I soon realised that most of their content was of a "cut'n'paste" nature from other peoples work.
I would not have minded so much except that they charged an absolute premium and the course at that time did not even cover Support & Resistance!
Given that signal ranking and random trade selection are mutually exclusive do you have any evidence to suggest that one trade selection type is unconditionally superior to the other ??
Also what criteria did you use to determine ranking and how did you determine it ?? Is this some sort of a formula that has been given to you and what evidence do you have to verify that it always results in an optimum selection of trades ??
And lastly why do you put so much faith in signal ranking as though it is a universal panacea for all trading systems ??
This makes the MC redundant. However, if MC was required, it can still be done in Excel with no need of the very very pricey TradeSim Enterprise edition. Moreover, in AB I can do the backtesting, optimisation etc. The icing on the cake is of course the automated Walk Forward Backtesting available in AB.
In more capable (programming) hands than mine, the custom metric features and capability to design the Objective function for backtesting etc are really powerful features.
I'm curious to know how you would optimise a trading system with random trade selection ?? Which performance metric would you use because as soon as you introduce variance into the system there will not be one unique outcome ??
Firstly there is the HT entry fee which is typically 6K for starters. I have some users who have told me they have paid 10K or more in some cases. Then you have the code pack which is another $450 plus the cost of Amibroker and any of the backtests they run for you. That is a hell of a lot more than TradeSim Enterprise and Metastock together
Also if the setup you have was such a seamless interface why would you need to pay all of this money just to access it's functionality ?? A lot of the users of TradeSim are not that computer savvy and just want to focus on the aspect of system design and testing. This is why we have designed the interface to be relatively user friendly.
That is the whole point of signal ranking; there is no longer random trade selection. There is indeed a unique outcome. I usually use Avg Annual Profit/Max DD as the custom metric for optimisation. However, I am in the process of developing my own objective function for optimisation. Pls refer to Howard Bandy's "Quantitative Trading Systems".
As for making money, the best system developed will lose me money if my head is not in the right place. HT provides absolutely excellent tools to develop systems and the rest is upto the individual trader.
What are some of the others types of trading strategies that HT offer "templates" for?
Strictly mechanical trading systems are used and encouraged.
Bruce.
As you can see I have defined what I need from a trainer.
I also know that as I advance Nick will have been where I'm heading and be able to mentor in whatever field/area I need guidence and increased knowledge.
I have confidence and TRUST---I think you'll agree important in this faceless industry!---not to mention RESULTS!!
If I were you Id be inclined to gain a grounding and find what you NEED to know to help you in your trading THEN go and find a trainer/Mentor to hone that skill/s.
Why not give Nick a Call.
He is very easy to talk to and will help you get going.
Even private mail him.
Just been to the intro seminar...it's only $4900 now...I can't see much value in that! heaps of free value out there if your willing to work and learn as opposed to paying these smart business people to show you the basics of CFD's
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