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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: Mike Sawyer who wrote (29000)	4/22/2002 10:03:28 PM
From: NW_Trader	Read Replies (5) \| Respond to of 59879

Hi Mike, Mark, Collin, Rashid, Jane, Ron, Ken, Dave, Frank (??), et. al. the gizzard traders - Well I'm still around, trading and generally enjoying life. Just don't get around here during the day much anymore and have been busy with a lot of other projects as well. Really, I haven't fallen and can't get up <VBG>, just trying to go to bed earlier and get up earlier and usually have other tasks after the market is done - today i stayed out of the aftermarket and thought I'd see what I'd been missing on SI. At the risk of boring some, I'll do a quick update. For the past several months, besides trading, I've been finishing my new office/trading station (new 'puters, work area, etc), learning Jscript and some VBscript and programming indicators and scans for Amibroker and some for the new eSignal advanced charting interface. I've been beta testing a real time version of AmiBroker that works with eSignal's data feed - what a joy. AB is an incredibly powerful and versatile stock program - charts, backtests, scans and explorations, and even a portfolio manager - better than Ensign, MS or TS and ~$79 for the end of day data version that will read QP, TC2k, MS, or any ASCII format data. Also has a downloader to get free EOD quotes from Yahoo or where ever. The real time version has all these features and more. Scans are lightning fast, built in fib tools, ability to write just about any indicator you can imagine. Yet with all this, my intraday trading has gotten simpler - I've been running an informal contest against myself - split my trading account and have been trading one part strictly on patterns and setups, the other part has been taking trades mechanically as defined by several trading systems I've been developing and backtesting. Thus far, the two are about neck and neck for actual profits. My discretionary trades tend to be longer swings, have greater gains and losses, and are fewer in total number. The trade systems account is far more active, many small gains and losses and fewer homeruns, but I fudge on it too much. I've come to realize that the problem with system trading (at least for me) lies in the requirement to take all trades dictated by the system. I've designed several systems that do extremely well (in testing), but they require greater dicipline than I've got to enter trades on a signal when my intellectual or emotional eye review screams (in best Montey Python style) "Run away, run away!!" In short, had I taken every trade signaled this past quarter I'd have done extremely well - I didn't (i.e., I tried to out guess the system) and my returns were substantially less - about on par with my regular trading. For trading, I've been in and out of golds, mostly GOLD, HGMCY, NEM and DROOY. I've been staying away from the traditional gizzards; occasionally playing a neo-gizzard like JNPR or NXTL. Still hunting my pressure drop plays (stock drops >20% on high volume often playable for several days thereafter but works better with stocks > $10. NEOL was today's dropper, for 2 points. And otherwise staying with my stable of cut and runners that I trade daily. I'll try to contribute some picks occasionally and drop by now and again - I do miss the more relaxed trading, as I've been pretty focused and expect to be for a while more. Looking to take off several months in the next year to do Euorpe and ??? so need to do a bit better this year. Peace and Justice --- Patrick