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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: ynot who wrote (3417)	8/30/1999 12:56:00 AM
From: -	Read Replies (1) \| Respond to of 18137

ynot, OK I will post my experiences with Metastock Pro + ESignal... I just upgraded my old MetaStock EOD package to the latest version for fifty bucks... was up and running, backtesting EOD stock setups within 15 minutes... MetaStock is smooth, clean a real nice charting package. Current day chart pattern I'm testing with it is a classic reversal pattern "2B+R" ... for longs, two down bars (lower highs, lower lows, lower closes), followed by a reversal bar that takes out the low of day2, then closes ABOVE day2's close...enter on day 4 at some price ABOVE day 3 high. It's a subset of the Coopers/Conner 123 pullback setup... of course, the reserve pattern for shorts. Catches many key reversals in stocks, am studying what filters to use with it. It's important that the third bar take out the low of the second; otherwise it's just a garden-variety reversal. This pattern will produce a nice trade in the S&P's about every other month; and in many stocks. I spent 3 years messing with Tradestation doing system development and backtesting... finally gave it up, too much of a load dealing with it all and can actually pull you away from the 100% focus on trading you need to have. MetaStock is refreshing in that it's so clean/simple (relatively) but can still do a decent backtest... however there are still a lot of TradeStation features I miss... oops I think I feel a bit of that old Tradestation feeling coming on again... want to fight that back :) I've thought about building a "pseudo" intraday database for Metastock too... e.g. using 10 minute bars but fooling Metastock into thinking they are daily bars... if you figure out how to do that let me know! But I will probably end up doing that with MetaStock Pro + ESignal. Another idea, is to use MS-Excel for backtesting... now THERE is total flexibility (and a lot of complexity/headaches)... I am signed up for a course on that, 30 days out. Regards, -Steve