Hi Brian_z -- You wrote: " I claim that the subjective plays a big part in successful trading (a.k.a trading psychology)."
I am in complete agreement with you. The method I recommend for handling the psychology aspect is to address it at the beginning of the trading system development process. By choosing your objective function at the start, designing a custom function just for your own use if necessary, then using that function as the metric by which all your trading systems are measured, the resulting systems are certain to fit your own psychology and personality. AmiBroker has the capability for doing this, and my book explains how in great detail. (I'll also be talking about this at some length in my workshop in Las Vegas next week.) Thanks, Howard www.quantitativetradingsystems.com On Feb 16, 2008 3:52 PM, brian_z111 <[EMAIL PROTECTED]> wrote: > Quite. > > It is the subjective mind that puts things in perspective (measures > the value and meaning of them) e.g. we know what beauty is but we > can't rationalize it. > > I claim that the subjective plays a big part in successful trading > (a.k.a trading psychology). > > That's a book all on its own, although Aronson did a passing job on > the basics in EBTA (for a tech guy!) > > brian_z > > > --- In [email protected] <amibroker%40yahoogroups.com>, "Howard B" > <[EMAIL PROTECTED]> wrote: > > > > Greetings all -- > > > > Let me add my voice to those suggesting that you reconsider leaving > Quotes > > Plus. > > > > I am a subscriber to QP for both EOD and RealTime. > > > > I have had difficulties with QP's billing department. Gary got them > > straightened out for me. > > > > I am satisfied with the quality of the data. > > > > Consistency is worth a lot. Most of my research and most of my > trading is > > done based on systems that I have developed using QP data. If I > were to > > change to another vendor, I would begin to notice differences. > That would > > concern me, and I would spend way too much time deciding whether I > needed to > > be worried or not. In the end, my choices would be to redo a great > deal of > > research, or go back to QP to resolve the differences. > > > > Thanks, > > Howard > > > > On Feb 16, 2008 2:01 AM, brian_z111 <[EMAIL PROTECTED]> wrote: > > > > > Paul, > > > > > > I can see that you are a technician. > > > I wonder how that translates into your trading style? > > > > > > I don't know if you will appreciate what I have been implying. > > > > > > The data from the exchanges is not absolutely correct (although I > > > agree with Bill that we should treat it as if it is). > > > This is a 'construct of convenience' that helps us to avoid the > > > uncomfortable fact that objective analyze has its limits and > starts > > > to breakdown at the edges. > > > > > > While we all say we are objective traders we aren't. > > > Subjectivity plays its part because it is 50% of our makeup. > > > After all of the analysis is down it is the feel we have for the > > > trade that allows us to continue in despite a bad tick or two. > > > > > > If our subjective capabilities weren't a match for our objective > > > capabilities we wouldn't be able to trade at all. > > > > > > brian_z > > > > > > > > > --- In [email protected] <amibroker%40yahoogroups.com><amibroker% > 40yahoogroups.com>, "Paul Ho" > > > <paultsho@> wrote: > > > > > > > > One problem for yahoo data for Australian stocks is that price > is > > > only > > > > quoted down to 2 decimal place only. In real life, 3 decimal > place > > > is quoted > > > > at the exchange. > > > > > > > > > > > > _____ > > > > > > > > From: [email protected] > > > > <amibroker%40yahoogroups.com><amibroker%40yahoogroups.com> > [mailto: > > > [email protected] > > > <amibroker%40yahoogroups.com><amibroker%40yahoogroups.com>] > > > On Behalf > > > > Of brian_z111 > > > > Sent: Friday, 15 February 2008 11:38 PM > > > > To: [email protected] > > > > <amibroker%40yahoogroups.com><amibroker%40yahoogroups.com> > > > > > Subject: [amibroker] Re: New EOD data feed other than Quotes > Plus > > > > > > > > > > > > > > > > Ara, > > > > > > > > For the sake of sharing information - to save people wasted > time: > > > > > > > > > I know many are willing to to do a lot of work in order to use > > > free > > > > >data from Yahoo or add fundamenttal info from Yahoo. > > > > > > > > It's no work at all. > > > > Yahoo and Yahoo current fundamentals are integrated with > AmiQuote > > > > AB > > > > > > > > >>I have not tried it, but my impression has been that what you > get > > > > >>is what you pay for. > > > > > > > > Yahoo data is not free - it is paid for by Yahoo (bought from > > > > reputable companies) from revenue from ads - it is distributed > for > > > > free to attract users to the site who then buy things via the > ads > > > (I > > > > sometimes do). > > > > > > > > >I would rather pay a reasonable fee and get a reliable product. > > > > > > > > How do we know that our data products are quality? - because the > > > > provider told us so? > > > > > > > > How can we check data and how many do? > > > > It is not so easy to check data. > > > > > > > > As I suggested to Barry the other day - we can go to Yahoo, > > > download > > > > raw, or fully adjusted, get dividend info, get split info and do > > > our > > > > own checks on Yahoo in the same way we can do that for any other > > > > provider. I have done one or two here and there and I haven't > found > > > > anything alarming to me. If I did I would then work around that. > > > > > > > > What we can't get from Yahoo is event adjusted data without > > > dividend > > > > adjustment - people who want that have to get it elsewhere. > > > > > > > > Also, sadly, for longer term traders, more error is introduced > into > > > > backtesting by using data without div adjustment than errors > within > > > > Yahoo's data (I only say that to help people). > > > > > > > > IMO - first we should know what our trading style is, second we > > > > should have a strategy in mind and then third we should buy data > > > that > > > > will give us the best chance to analyze past performance of that > > > > strategy (in my case that means a few different types of data). > > > > > > > > As you know I could give a couple of pages more in support of > > > traders > > > > taking a more flexible and proactive attitude to their data but > I > > > > would be better to do that at the UKB. > > > > > > > > One example: > > > > > > > > I recently developed a very promising new system on holiday - > just > > > > before walking out the door to catch the plane I copied a > complete > > > AB > > > > directory from an XP machine and dumped it on a Vista laptop > > > > (naughty, naughty) - I dumped all the old databases to get the > size > > > > down and only took a copy of Jim's US Yahoo database (I wanted > div > > > > adjusted data for EOD backtesting). > > > > > > > > I managed to get some good work done. > > > > > > > > When I got back I then carried on towards testing in intraday > data > > > > from another provider and so far it is performing exactly as > tested > > > > on Yahoo (only better) - I am using intraday to finesse the > entries > > > > and exits that I couldn't finesse in EOD data. The trades > average 2- > > > 3 > > > > days round trip. > > > > > > > > Also when it is ready to trade I will be totally familiar with > it > > > > after thousands of tests etc and I will see straight away if > > > > something is odd when I start going to the brokers (who also > has a > > > > different source for data). > > > > > > > > Also consider that the so-called differences in data is a bit > of a > > > > myth. In Australia there is only one exchange - they have a > > > monopoly > > > > on the data. They do some filtering of the tick data themselves > > > > before releasing it to their providers so how different can it > be. > > > > > > > > The only differences in data in Australia that can occur are > from > > > a) > > > > extra filtering or b) event adjustments. > > > > > > > > At the prices I don't think too many here are doing to mucn of > a) > > > and > > > > b) is checkable. > > > > > > > > Also, as we have seen in a recent article, bad tick data isn't > the > > > > end of the world at the EOD level. > > > > > > > > In fact EOD traders can tolerate quite a bit of error and still > win > > > > the day. > > > > > > > > brian_z > > > > > > > > --- In [EMAIL PROTECTED] <mailto:amibroker%40yahoogroups.com> > > > ps.com, "Ara > > > > Kaloustian" <ara1@> wrote: > > > > > > > > > > Dan, I am not sure how other handle it. > > > > > > > > > > I know many are willing to to do a lot of work in order to use > > > free > > > > data from Yahoo or add fundamenttal info from Yahoo. I have not > > > > tried it, but my impression has been that what you get is what > you > > > > pay for. I would rather pay a reasonable fee and get a reliable > > > > product. > > > > > > > > > > About TC 2000, I beleive it is slower than QP and remapping > can > > > be > > > > a bunch of work and I don't care for their industry mapping > either. > > > > > > > > > > QP has been fine for me with very few exceptions. > > > > > > > > > > We all meet some unacceptable service personnel from time to > > > > time ... I take it as part of dealing with people. It's usually > OK, > > > > but sometime it is not. > > > > > > > > > > Sorry can't really be of much help. > > > > > > > > > > A > > > > > ----- Original Message ----- > > > > > From: Dan Clark > > > > > To: [EMAIL PROTECTED] <mailto:amibroker%40yahoogroups.com> > > > ps.com > > > > > Sent: Thursday, February 14, 2008 9:15 PM > > > > > Subject: RE: [amibroker] New EOD data feed other than Quotes > Plus > > > > > > > > > > > > > > > Ara, > > > > > > > > > > > > > > > > > > > > Hi. It's been a long time. > > > > > > > > > > > > > > > > > > > > I remember that I did not like the industry/sector info from > > > > TC2000. I can remap the data if necessary. How do others handle > > > > this? > > > > > > > > > > > > > > > > > > > > Thanks, > > > > > > > > > > > > > > > > > > > > Dan. > > > > > > > > > > > > > > > > > > > > > > > > > ---------------------------------------------------------- > > > > ---------- > > > > > > > > > > From: [EMAIL PROTECTED] <mailto:amibroker%40yahoogroups.com> > > > ps.com > > > > [mailto:[EMAIL PROTECTED] <mailto:amibroker%40yahoogroups.com> > > > ps.com] On > > > > Behalf Of Ara Kaloustian > > > > > Sent: Thursday, February 14, 2008 9:07 PM > > > > > To: [EMAIL PROTECTED] <mailto:amibroker%40yahoogroups.com> > > > ps.com > > > > > Subject: Re: [amibroker] New EOD data feed other than Quotes > Plus > > > > > > > > > > > > > > > > > > > > TC2000 is reliable, but they do not have fundamentals or very > > > > few. (at least that's what I remember from a while back). > > > > > > > > > > > > > > > > > > > > They do not have commodities and charge extra for mutual > funds. > > > > Their data is ready earlier than QP. > > > > > > > > > > > > > > > > > > > > Their industry / sector structure is completely different tha > QP. > > > > > > > > > > ----- Original Message ----- > > > > > > > > > > From: Dan Clark > > > > > > > > > > To: [EMAIL PROTECTED] <mailto:amibroker%40yahoogroups.com> > > > ps.com > > > > > > > > > > Sent: Thursday, February 14, 2008 8:55 PM > > > > > > > > > > Subject: [amibroker] New EOD data feed other than Quotes Plus > > > > > > > > > > > > > > > > > > > > I've been using Quotes Plus data for the last 2-1/2 years. > > > > Overall, I've been very happy with Quotes Plus data and Gary > > > Lyben's > > > > (owner/president) responsiveness. That said. > > > > > > > > > > > > > > > > > > > > In the last few days, I've swapped several e-mails about a > > > > minor billing issue (credit card renewed with different number) > > > with > > > > a woman in his billing department. What should have been a very > > > > minor clerical issue left me feeling EXTREMELY angry and > offended. > > > > > > > > > > > > > > > > > > > > I vowed to switch my data feed from Quotes Plus to another > data > > > > feed as soon as possible. This is a major issue for me because > of > > > > the amount of AFL recoding involved, but I can no longer do > > > business > > > > with Quotes Plus. > > > > > > > > > > > > > > > > > > > > I need some options for other EOD data feeds. What EOD > > > > service are you using? What has your experience been? What are > > > > the alternatives now? > > > > > > > > > > > > > > > > > > > > Thanks and regards, > > > > > > > > > > > > > > > > > > > > Dan. > > > > > > > > > > > > > > > > > > > > > > >
