--- In [email protected], "bernardedmond01" <[EMAIL PROTECTED]> wrote: > > Hi All > I want to get the basics for starting my own Monte Carlo testing. > There are 346 messages on here relating to MC. Can anyone point me in > the direction of the starting line please? What should I look at/use > first?
Bernard, Howard covers MCS applications in his QTS book from an AmiBroker perspective. To get the best value from that discussion a general knowledge of MCS, as applied to trading, and Stats101 would be an advantage. The net has a lot of material on MCS but it is mainly business or academically biased. Traders who give a full a to z exposition on trading applications are hard to find; I'm still looking. I have 200-300 trading books here and while many reference MCS they are not what I would call an MCS for traders training manual. I still have some unresearched leads from previous posts in this forum so when I read those books I will report back if I hit the jackpot. To gain some practical experience you can't beat trading software, especially if it is surviving software. Developers have to apply the theory so they have to screw the theory down before writing it into their programs. Here's some MCS software sites that have been around for >3 years. Scratch around for downloadable manuals, docs etc. A Larry Sanders PDF is at the tradelabstrategies site. Compuvision PDF manual is at their site in downloads>tradesim downloads. In the tradesim manual only 1 or 2 chapters are general knowledge MCS but some of the example screenshots also help to get a feel for what MCS is all about. As Howard intimates it is a *way of thinking* and requires learning to accept probability as a trading reality. Not unlike the shift in mindset that physicists undergo when they move from Newton to Einstein. MCS sites: http://www.compuvision.com.au/ http://www.tradelabstrategies.com/ http://www.portfolioriskanalysis.com/ http://www.adaptrade.com/montecarlo.htm There are also some Xcel plugins around but they are mostly business project orientated. There is also an MCS Xcel file in our group files section. Here are some links for those new to stats; maybe not the best possible stats help but better than nothing. http://www.itl.nist.gov/div898/handbook/index.htm http://www.ruf.rice.edu/~lane/rvls.html http://www.stats.gla.ac.uk/steps/glossary/alphabet.html http://www.statsoft.com/textbook/stathome.html Brian.
