Software for identifying trades based on a custom risk-reward/risk capital

intradaybill said:
I think with a quad-core and 4 instances of the program I can have a real-time pattern search soon.
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Is it worth spending the money to get 4 licenses? I mean, did you make any money with this program to justify the expense?

I think the concept is intriguing and I suspect this company does not have many customers beause I haven't see any ads in trading magazines, so if this program works that is good, the less people using it the better it is.
 
jimbotrader said:
Is it worth spending the money to get 4 licenses? I mean, did you make any money with this program to justify the expense?

I think the concept is intriguing and I suspect this company does not have many customers beause I haven't see any ads in trading magazines, so if this program works that is good, the less people using it the better it is.
Click to expand...

You should read Michael Harris books (specially his last one) to understand the motivation behind the APS software.
Michael Harris also runs a fund management of some kind, I think, and an advisory consultancy for instutional clients, I believe.
I never saw APS advertised anywhere else but in his books; that, at least, is how I purchased my copy: by contacting the address in one of his books.
Also, he has written several articles for a variety of trading publications - they are shown on his website.
I do agree, the less people use it, the better - purely selfish, you understand!:cheesy:

Eduardo.:)
 
ZEPPO said:
You should read Michael Harris books (specially his last one) ...Also, he has written several articles for a variety of trading publications - they are shown on his website. Eduardo.:)
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His last book Profitability and Systematic Trading is a must read. Down to earth analysis based on simple formulas he actually derives, no hype and false hopes for anyone. I liked the chapters on the Profitability Rule and Risk and Money Management. I have some objections about a few minor points made by him in the Zero-sum game chapter. Overall this book is a gem.

I think his concept of Synthesis is brilliant and he is probably the first to develop an automated trading system discovery program. Here is the link for those that do not have the book:

http://www.tradingpatterns.com/synthesis.pdf
 
I have received the following from message from tradingpatterns.com:
"Dear customer:

There have been a number of incidents recently involving attempts by software crackers to obtain a copy of our full functional program. These individuals approached a number of our customers in popular trading forums offering to exchange some other programs for APS. We were notified by two of our customers and the email of one of the crackers was reported as jimbo3675@…com We would like to thank those customers for informing us and we value their help and support.

APS has several levels of protection, including code encryption, a hardware lock with password entry and more importantly each and every customer installation is freshly compiled to include a unique number in several places of the code that identifies the licensee. Even if the program is decrypted and the password scheme is cracked, any copies distributed will still identify the licensee who illegally transferred a copy of the program.

Please note that in the past attempts to crack earlier versions of APS and/or patch the missing code generation in the demo failed. These cracked versions are unlikely to produce correct results and were reported to be highly unstable. More importantly, the crackers may have imbedded spyware in such cracked versions – and in other cracked programs in general – for the purpose of stealing trading passwords and other important information. This is enough of a reason for not installing and running cracked code.

We thank you for your business and support and especially we thank those customers who notified us about these incidents.

Tradingpatterns.com"

Now, jimbotrader, that "jimbo3675@…com" wouldn't be you, would it? A simple "yes" or "no" will suffice.

Eduardo.
 
I hope you can make some money with your detective skills while I'm making a lots of money trading. I decided to purchase a license of APS by the way. I spent $300 for a cracked copy and it does not work properly as it keeps on crashing my computer. The hacker that sold it to me is nowhere to be found. I had to reformat the hard drive and that was a real pain.

Are you guys trading anything? What in particular?
 
intradaybill said:
Anything that moves with good volume:)
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How do you know high volume is good volume?

You see 100M shares of an ETF traded. How do you know there are not only 2 or 3 big pockets doing this volume trying to fool you of good liquidity?

Does anyone know the answer to this stupid question?
 
intradaybill said:
This is a "black box". APS is a "white box". Huge difference. You can't modify the system code and add you own indicators in mtpredictor other than control of position size and exit strategy. In general, EW theory does not tell you when to exit.
Click to expand...

BUT, MTPredictor does give you exits! :clap:

They have a 4 stage process - which the software does automatically -
1. Find a trade
2. Access your Risk / Reward
3. Determine your Position Size
4. Control your Exit Strategy

Disclaimer: I use MTPredictor so I am biased :)
 
I have tried many programs and they were all failures. I was told by someone here that APS is the only program that generates results. Since the product was discontinued I am looking to buy a used copy. Please send pm.
 
APS was discontinued by tradingpatterns.com because the company went out of business but it is now marketed as Price Action Lab

Very interesting program. More interesting I find the p-indicator.
 
jimbotrader said:
What markets do you trade with this indicator and have you made any money doing it?
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I trade ETF tickers like QQQQ, SPY, USO and XLF. I also trade futures but I use more the patterns from Price Action Lab because I can backtest the systems. Yes, if you know what you're doing you can do very well with the p-indicator signals but only for short term position trading.
 
lamog7 said:
Anyone with a used license of Price Action Lab for sale pls send pm.
Click to expand...

I upgraded to the new Price Action Lab software not long ago. Support service is excellent. I had a question during the weekend and I received a reply same day. The software price is reasonable for what it does. If you get a "used" license you may have problems getting support and possibly a password to run the program.
 
IMO this software is so low priced relatively to what it can do. You can probably pay for it after 2 or 3 trades if you know what you are doing. Just run a Next-Close p-Indicator scan on SPY and QQQQ for a few days. If you get some good number, enter the trade on the open and go flat by the close. I use options. Look at an example they have on the website from last week:

http://www.priceactionlab.com/Literature/spyresults/spyresults.html

I think the best way of using this indicator is by spotting switches in sign. NTM options is a good play.
 
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