Sounds fine to me. Also look at this:
Using APS FAQ
Yep, I agree about the book. Down to earth writing, no hype like other authors, sensible advice. Michael Harris is a real trader.
Ron
Ron,
Thank you for your comment and I have now re-read through the FAQ. I think one of the interesting aspects about the seeing the results from APS is the frequency of signals. When performing a search with a common setup in a workspace, >67% winners, <3 cumulative losers, 5% target/stop I saw 3-5 trades a year when using daily data. For anyone who wishes to avoid overtrading, APS wins hands down.
APS produces a list of high probability trades which could be followed with confidence. In his seminal work, Market Wizards, Jack Schwager sought to answer the question " What makes the best traders tick? ". He looked at the best in all markets from intraday to long term investors. The answer was that they all had created a system / set of values that made sense to them on a psychological/personal level.
I believe that after reading books on system development and trading that the psychological experience is a key element in determining trading success. APS or indeed anything, can a successful building block for trading success. It is when traders bring their personal bias to the question of system development that they introduce problems and cause a successful system to fail. To paraphrase Larry Williams, I believe he said ' I could give you all my systems with step by step instructions but you wouldn't trade them. You would ignore some signals and then introduce new ones. You would do that because my systems wouldn't seem right to you. '
While one could imagine methods to increase the frequency of trades from APS perhaps that is missing one of the points of the results. High confidence trades come along infrequently and if a trader feels a psychological need to trade regurlarly then maybe they will start to introduce new signals and miss others.
Is there anything you have learnt from APS?