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| crazyT |
 Posted: Wed Aug 30, 2006 5:55 am Post subject: Software |
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Investing Associate
Joined: 22 Aug 2006
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What analysis software do people here use?
Did anyone write their own? I’ve wanted to write some of my own software but I’ve been having some trouble finding a good data source. Anyone else come across this problem or found a solution? |
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| Im Not Warren Buffett |
| Posted: Wed Aug 30, 2006 6:19 am Post subject: |
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CFO
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| I write all my own analysis tools, but they might be different than what you think. Mine are all for quite simple tests of fundamentals - no fancy charting or technical indicators. They are written in Excel (which I love, as I can get it to do almost anything) and I have spent a great deal of time fine tuning them. What kinda of software are you looking to write? |
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| gncsmith |
| Posted: Wed Aug 30, 2006 8:11 am Post subject: |
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Investing Sr. Associate
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| I know a couple of people that are hard-core traders and they both use Gorillatrades.com... |
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| crazyT |
| Posted: Wed Aug 30, 2006 9:23 am Post subject: |
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Investing Associate
Joined: 22 Aug 2006
Posts: 30
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I've been thinking about trying to make a few neural networks. Maybe a couple based on technical analysis inputs and a couple based on fundamental analysis inputs and one based on inputs applicable to both methods. There are alot of possible variations I could try so it could be a pretty lengthy process to find the best one if I can even get one to work at all.
So INWB, does your Excel sheet give you an estimate of the intrinsic value? |
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| Im Not Warren Buffett |
| Posted: Wed Aug 30, 2006 11:52 am Post subject: |
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CFO
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| crazyT wrote: | | So INWB, does your Excel sheet give you an estimate of the intrinsic value? |
I have one program for forward valuation, then another one to track Balance Sheet/Income Statement/Cash Flows and related metrics over time up to the present (that one is a surprisingly big help).
Right now I am working on more short-term forecasting methods, but I'm not sure if that will lead to anything... and I have another project on my plate too that I really like.  |
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| blackfoxtrade |
| Posted: Wed Aug 30, 2006 12:35 pm Post subject: |
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This does not actually aswer your question, but I think it fits here just fine.
The following text is form my blog (in my siggy).
Quoted from the book:
"All these technical methods are based on price. In effect, they're all different-colored glasses for looking at price. Proponents of RSI and Stochastics (tow popular overbought/oversold indicators) would see price patterns filtred through these price-derived series. Gann analysis enthusiasts would see the price patterns through a Gann-based interpretation. In these cases and others, traders accumulate experience on price patterns - albeit from different perspectives. Some of the methodologies employed, howevere, are probably totally worthless. It's simple that instead of looking at prices through clean glass, traders who use these methods are looking at prices through different-colored tints. The method, or tint shade, is a matter of individual preference. To extend the analogy, I would compare these methods to nonprescription sunglasses: they change the view but don't necessarily improve the vision. The bottom line is that these methods seem to work only because the people who use them have developed some sort of intuitive experience about price."
End of quote.
That's exactly why I believe there is no one method for market analysis, it's a matter of personality and preferences of an individual. I myself used technical indicators like RSI and Stochastics, which I don't find useful at all anymore. My method has changed, I now use only the information and indicators that I find indispensably useful. I draw channel, but I don't look at fundamentals. Buffet, for example, uses only fundamentals. They may be useful to him, but I discard them as I don't feel 'at home' with them.
Find your own methods and don't care about what others say, if it works, there's no reason to change it. |
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| Grimreaper |
| Posted: Wed Aug 30, 2006 1:54 pm Post subject: |
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CFO
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| blackfoxtrade wrote: | This does not actually aswer your question, but I think it fits here just fine.
The following text is form my blog (in my siggy).
Quoted from the book:
"All these technical methods are based on price. In effect, they're all different-colored glasses for looking at price. Proponents of RSI and Stochastics (tow popular overbought/oversold indicators) would see price patterns filtred through these price-derived series. Gann analysis enthusiasts would see the price patterns through a Gann-based interpretation. In these cases and others, traders accumulate experience on price patterns - albeit from different perspectives. Some of the methodologies employed, howevere, are probably totally worthless. It's simple that instead of looking at prices through clean glass, traders who use these methods are looking at prices through different-colored tints. The method, or tint shade, is a matter of individual preference. To extend the analogy, I would compare these methods to nonprescription sunglasses: they change the view but don't necessarily improve the vision. The bottom line is that these methods seem to work only because the people who use them have developed some sort of intuitive experience about price."
End of quote.
That's exactly why I believe there is no one method for market analysis, it's a matter of personality and preferences of an individual. I myself used technical indicators like RSI and Stochastics, which I don't find useful at all anymore. My method has changed, I now use only the information and indicators that I find indispensably useful. I draw channel, but I don't look at fundamentals. Buffet, for example, uses only fundamentals. They may be useful to him, but I discard them as I don't feel 'at home' with them.
Find your own methods and don't care about what others say, if it works, there's no reason to change it. |
I think you got that quote on technical analysis from somebody who actually tried to do TA and thought it was "neat" to look at chawts through different colored glasses....literally!  ....I doan mind if they bring back da 60's, but maybe leave out da psychadelics! That clown you quoted was obviously somebody who couldn't quite figure it out so he lapsed into a rediculous explanation of why he was lost.   |
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| blackfoxtrade |
| Posted: Wed Aug 30, 2006 8:41 pm Post subject: |
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| It was quoted from "The New Market Wizards". I'll check out which interview it was and let you know. I still believe in technicals, though. |
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| livermore |
| Posted: Thu Aug 31, 2006 2:45 am Post subject: |
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Investing Associate
Joined: 14 Aug 2006
Posts: 28
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| blackfoxtrade wrote: | | It was quoted from "The New Market Wizards". I'll check out which interview it was and let you know. I still believe in technicals, though. |
Read it more carefully. All of the traders interviewed there have their own personalized systems, in fact 99,9% of good traders use computer programs in their analysis. But it does state in the book that you shouldn't try to use "black box" systems which is enough sayed. |
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| blackfoxtrade |
| Posted: Thu Aug 31, 2006 6:57 am Post subject: |
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Associate
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| livermore wrote: | | Read it more carefully. All of the traders interviewed there have their own personalized systems, in fact 99,9% of good traders use computer programs in their analysis. But it does state in the book that you shouldn't try to use "black box" systems which is enough sayed. |
What are you talking about? Read what more carefully? I don't get what you're tryin' to say. |
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| snxster |
| Posted: Tue Sep 05, 2006 8:15 am Post subject: |
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Investing Associate
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| If you want to write your own software there are alot of tutorials and books you can get. Just choose a good progamming language! |
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| mathwizard |
| Posted: Tue Sep 05, 2006 9:47 am Post subject: |
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Investing Sr. Associate
Joined: 15 May 2006
Posts: 119
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Location: New York City
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| livermore wrote: | | Read it more carefully. All of the traders interviewed there have their own personalized systems, in fact 99,9% of good traders use computer programs in their analysis. But it does state in the book that you shouldn't try to use "black box" systems which is enough sayed. |
For the moment, I thought you said "you souldn't try to use 'black fox' system"
+ I like you both estonians! |
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| Im Not Warren Buffett |
| Posted: Tue Sep 05, 2006 9:53 am Post subject: |
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CFO
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| Moved from "Beginners" to "Technology". |
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| blackfoxtrade |
| Posted: Wed Sep 06, 2006 5:59 am Post subject: |
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Associate
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| mathwizard wrote: |
+ I like you both estonians! |
Thanks! 
snxster
I don't think that writing your own system is a very good idea. IF I were to write a system then I would take something from every other system I knew and then backtest it. Of course, that doesn't always work, but better be 50% confident than 100% worried. |
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| crazyK |
| Posted: Wed Sep 06, 2006 8:59 am Post subject: |
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Investing Associate
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| I probably would feel more confident with my own system, but I agree that testing it before you invest real money is necessary. |
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