PROJECT TIGER

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seahound

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Post Number: 28
Registered: 12-2002

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Saturday, December 20, 2003 - 09:06 am:

Hear Ye Hear Ye

Last and Final Notice.

The following entry appeared on IC 10 Dec 03 and is repeated for any who may have missed it. So far, seven people have expressed interest.

“Are you interested in joining a small team of say four like-minded people to workshop the development, back-testing and trading of a mechanised conservative trading system using ASX shares?

To get a feel for the project in mind, read an interview with C.V., my Role Model and Super Hero, at http://www.tradingrecipes.com/resources.html .

Another site, whilst US based, gives a glimpse of what can be:
http://www.wealth-lab.com/cgi-bin/WealthLab.DLL/getpage?page=Top25.htm

My trading experience has lead to the clear view that a mechanised system will be superior to using my current trading rules - Edition 5.2 and counting! These have not been back tested, let alone quantified. Wisdom tells us back testing is crucial to ensure the success of any set of rules. Then there is the wielder of the Rules. His ego sometimes soars free of the Rules 5.2, he sometimes wobbles in their application, and sometimes just loves the excitement of a hot trade! All a potent mixture for proven mediocrity.

Eddie Toppel in his fine book “Zen In The Markets” says in chapter one: “the market is an easy game to play…the rules are easily understood and simple to follow… they are time and money proven by professionals and nonprofessional traders alike…so what makes it so difficult to win?…ridding ourselves of ourselves is the most difficult problem we face in trading…the truth revealed without egos interference is our goal….but ego is cunning and the battle with it is long and hard.”

A mechanical system will help cut through human inconsistencies, help defeat ego, bring a greater level of reliability, of consistency, thereby profit.

Participation in The Project Tiger Team will involve:
1. meeting together at least fortnightly for several hours to workshop the development, monitor progress, and make decisions about the many choices to be faced. Meeting location initially is Blackburn, Vic, but will be shared round, plus of course emails between meetings
2. putting in a number of hours work between meetings covering research, programming, back-testing etc. (currently I use Metastock)
3. having a strong determination to want to build such a system for your own use
4. committing the required amount of time to the project
5. your skills sets being different to other team members
6. a co-operative good-humoured team approach with a dedication to quality and rigor. By working together towards a common goal, each team member will share the sum total of the team’s education, experience, training, and native ability; it will be a continuous source of ideas, innovation, support, and energy.
7. in the first instance, the system to be developed and tested, is one that is likely to follow a conservative middle path in terms of risk management, compound annual return and drawdown.

If you are interested in participating, please forward an email telling of what you wish to accomplish during the project, and what skills and experience you bring to it, and where you live, by 24 Dec 03. All emails will be replied to.

If there is an excess of interest, assistance will be given to help other teams form. So do say in your email if you wish to form and lead a team in the first instance. If several teams form, we can have occasional gatherings for all teams to share progress.

Project Tiger will commence late Jan 2004, and run until complete, hopefully by 30 June 04. Progress reports will be published from time-to-time on IC.”

Seahound