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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Patrick Slevin who wrote (25282)6/13/1999 10:48:00 PM
From: Brian Hornby  Read Replies (1) of 44573
 
Patrick. I didn't suggest it was the computers decision for the pattern analysis. I said it looked to me like a person mentally "trains" and the makes his decision based on past experience. This is more or less what the neural nets do. Perhaps I am off base though.

For the record, neural networks are not systems in themselves. They merely make relationships between technical indicators and other factors you program into it. So a neural net based system is like other systems, however the correlations and relationships between different indicators are handled by the process instead of discrete weighting factors you may put in or instead of your mental decision process e.g. you may say "I will buy if the SP is near resistance and the 5 day moving average goes above the 21 day". The neural nets can make much more complex relationships between multiple inputs, which is why I like to use them. However their performance depends on what technical indicators you put into them; they are the actual basis of the system. I feel the patterns you use may well be programmable into a net system, however it likely would be a big project. In that case the neural nets would replace the rational thought part of the equation, which of course may be no help to people expert in the area, but would be a great help to others. However, even for experts, I expect an automatic answer to take on board may be useful.
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