Can you guide me please?

[trevorc]

Some years ago I paid for and developed a trading plan with a Melbourne crowd called Hometrader and they seem to have disappeared. The plan worked well and I used if for while but that was over a decade ago and I have lost it and I haven't traded since. I recall that I ran it each night after the ASX closed and it might (or might not) find trades for me to make the next day, all were short term with stops. It was purely technical with no emotional input whatsoever.

I want to do it again, but I don't know exactly how although I do know a lot of the principles involved. Can you guide me please?

 

[frugal.rock]

We can't guide you. Against all the rules.
Not licensed, forum rules, entrapment... etc

Not a recommendation, or guidance and is freely available information, however some people use modern software to do a similar thing.
Example; Amibroker software using Norgate Data. Amibroker can be "coded" to provide signals based off predefined conditions, buy or sell.


You may get more of an idea from a guy named Nick Radge. (Google search)
I believe he also has a system similar to that you mention, although I suggest you do due diligence and ensure current ASIC compliance if required etc

Please note, none of this is guidance, recommendation's, investment advice etc.
For information purposes only.
Any decisions to invest, trade or spend money are your own and may result in the entire loss of funds or borrowed equity and leave you shirtless.
Good luck.

 

[trevorc]

Thank you for enlightening me about guidance and I do now appreciate the implications.

 

[peter2]

If you know the technical indicators and parameters that the Hometrader system used you will be able to set it up using other software like Amibroker, Metastock, Bullcharts.

Amibroker will allow you to back-test the system so that you can see the past performance and make a more informed choice about using it in the future.

 

[trevorc]

Thank you Peter. Good advice and I do know most of the indicators and parameters so I should be able to recreate it - or something like even - just to get started again.

 

[rnr]

Thank you Peter. Good advice and I do know most of the indicators and parameters so I should be able to recreate it - or something like even - just to get started again.

Hi @trevorc,

Did HomeTrader conduct the back-testing on your behalf or did you have some software on your computer at the time?

Cheers,
Rob

 

[trevorc]

They did it for me Rob, for a fee of $150, if I remember correctly.

 

[rnr]

They did it for me Rob, for a fee of $150, if I remember correctly.

Okay, so the next decision is:-
a) do you rely on the back-test report provided by HomeTrader some 10 odd years ago (if it's buried somewhere in your emails) OR
b) ask someone who has a software package like Amibroker along with an extensive ASX data package (which includes index constituents & securities no longer listed) to conduct some back-testing on your behalf OR
c) invest in the software and data package (as mentioned in (b) above) and learn how to code and conduct the back-testing yourself.

It is worth remembering that when you have eventually settled on a plan (system) that meets all your requirements you will need both a software package and a less extensive data package to scan for potential system BUY & SELL signals.

In your original post you made the comment that "The plan worked well and I used if for while" so you must have had the ability to search for the BUY and SELL signals generated by the plan (system).

Be aware that my comments above are only a possible path to take and may not have covered all the considerations required.

Cheers,
Rob

 

[trevorc]

Thanks Rob,
I am going with option C which is to find suitable software. I like my initial quick look at Amibroker but also having a look at the Australian system - 'Bullcharts'. I will spend a few days playing in them and if you (or anyone else please) have any views on either I would be delighted to hear them.

And yes, I do have the ability to search for the signals - or more correctly I did and may be a little rusty, but I will overcome that probelm.

Again, to you and others I really appreciate you helping out a novice. It makes a huge difference.

Cheers
Trevor

 

[peter2]

I use Bullcharts and like that I can create any indicators I need and then use scans to find opportunities. However as I gained experience I realised that I didn't need most of the indicators and now I only have a few on my charts to show the obvious. The scans are valuable.

Bullcharts has a clumsy tie-up with TradeSim software that provides some form of back testing capability. I haven't used TradeSim personally. (and I don't know why I haven't. Hmm...)

Amibroker however acts seamlessly between charting, scanning (explorations) and back testing. Plus there's a huge user forum and to my knowledge other users are always willing to help. Sure there is a detailed learning curve, but we are discussing an activity that can lead to financial freedom if done professionally.

 

[trevorc]

Thanks Peter. AComments I will truly consider.

 

[rlee84]

I use Bullcharts and like that I can create any indicators I need and then use scans to find opportunities. However as I gained experience I realised that I didn't need most of the indicators and now I only have a few on my charts to show the obvious. The scans are valuable.

Bullcharts has a clumsy tie-up with TradeSim software that provides some form of back testing capability. I haven't used TradeSim personally. (and I don't know why I haven't. Hmm...)

Amibroker however acts seamlessly between charting, scanning (explorations) and back testing. Plus there's a huge user forum and to my knowledge other users are always willing to help. Sure there is a detailed learning curve, but we are discussing an activity that can lead to financial freedom if done professionally.

Hi Peter, are you still using protrader software?

 

[peter2]

@rlee84 Interesting, you registered to ask me that question. You must know of me from a long time ago. I'm a long time friend of Protrader and I still use the Protrader software to scan for Darvas boxes on weekly charts. I keenly watch Sam's videos each Wed on Protrader TV. I do not participate in any social media and thus I'm unable to contribute to Protrader as I did a long time ago. The quality of the pre-programmed scans in the latest versions of the software have improved considerably.

Here's a chart that appears this week.

 

[rlee84]

@rlee84 Interesting, you registered to ask me that question. You must know of me from a long time ago. I'm a long time friend of Protrader and I still use the Protrader software to scan for Darvas boxes on weekly charts. I keenly watch Sam's videos each Wed on Protrader TV. I do not participate in any social media and thus I'm unable to contribute to Protrader as I did a long time ago. The quality of the pre-programmed scans in the latest versions of the software have improved considerably.

Here's a chart that appears this week.

View attachment 113214

I have been looking around for a software thats not too difficult to use tp scan darvas box. I came across three: ptotrader, amibroker and bullcharts. There are many afl for amibroker but I don't quite like the user interface. I tried out protrader. Its nice but come with a price tag of $70 a month and $467 upfront. The last software I discovered is bullcharts which sits in between amibroker and protrader. I did some research and not many people talk about protrader software and certainly not many review about it. @peter2 you are the only person talked about this software a number of times here in this forum and I registered an account to utilize the search button to search some keyword.

Phew thankfully someone who know trading actively contributing their experience here

I've just signed up for bullcharts trial and see how that goes. I dont need fancy indicator. Just one and only one - Darvas scan. It seems like bullcharts also have a slight variation of the darvas scan including darvas in progress, darvas box broke 5 days ago and a few more variation. It also have fundamental and guppy indicator which got my attention.

Thanks for the screenshot. It looks good! Automobile sector certainly having a come back as vic is soon out of lockdown. Local travel is going to get busy!

 

[feduchin]

Thanks Peter. AComments I will truly consider.

Hi trevorc,

I noticed your enquiries. I also was trained by HomeTrader, but more was actually done FOR me by HomeTrader. I have also been thinking of getting back into it.

My original HT trainer was Jeff Bryant. He is still around; a cantankerous sod; but very good. My system was fully designed and tested by him together with myself over a period of almost a year, during 2006.

Thereafter I paper-traded for November and December, 2006, and went live on January 1, 2007.

I made money! My system ‘kicked’ me out of my last trade about January 22, 2008, before the final big stock market drop a few days later. Thereafter my system would not allow me back into the market for eight months. So, foolishly I gave it away, and now regret it very much, having lost somewhat on Futures trading.

I made over 20% on my investment; $20k. But I now realise that I made less than I realised, firstly because of Netwealth’s charges; who I used for placing my orders. They charged an average $22 in+out of each deal, thus AU$44 per deal; THAT times about 34 deals per year; thus up to $1,500.. Then another $60 per month by Market Analyst; $720pa; for the daily ASX Top200 EOD figures, each covering the past 60 days.

So the costs where probably over AU$2,000 for a “profit” of $4,400, cutting it down to about $2,400. Not quite so good.

It needs serious consideration, and one truly needs to look at ALL considerations. Consider also that the HT course cost me $5,000! So, I MIGHT have made money if I had kept at it for the past 12 years; indeed, I probably would have made money. But now? God knows, I am entirely undecided.

Your comments?