jim - a search of some online fx trafers are IGM, GFT, Gomarket
I can agree with aspects of both here. But please, no need to get personal over opinions - wizzing contests are unnecessary. Perhaps offering examples of your arguments might assist everuone in understanding.
Metastock I use for equities, and can swear by mechanical filters 100% using daily data and trust the indicators it provides 100% of the time. For whatever reason, it has much nicer indicators, even though they are the same ones. But when you assess the report (filter) you find maybe 25% are worthwhile reliable entires, of which 80% of these will be successful. If it was a mechanical system, this would be a 20% success rate.
IGM advanced charts for example, produces slightly different ranges of RSI, Stoch, MACD for the same data - it's not a 'warm' to me. I don't know that I could rely on it for a mechanical system ... and I have spent months prior filling the screen with calculated derivative/scientific indicators.
In the end, int came down to interpreting the most basic and selecting the right time period parameters of only 2 indicators. But I still filter equities, to then analyse the fundamentals.
When you have many equities to choose from, you can easily filter for mechanical setups of many kinds, but not all of them will turn out the same. A higher % comes from manual selection.
For currencies, I'd love to see one work, but I'd say you will have the same degree of success. Maybe 25% of the time. I now use daily data for everything now, and it has restored my confidence in currencies. Currencies volatility is much higher than equities by virtue of completely different fundamentals. Price patterns however have a universal application. The way data itself is presented differently across different platforms might induce slightly different results.
Break Point Trades have a mechanical system for equities that is a hybrid that produces a high rate of return for them. Not sure of the long runnning statistics of it;s performance thought.
But ease up fella's. Enjoy the conversation without taking stabs - apologies if I am reading it wrong.
