If you are like many other traders, you have been eagerly awaiting the release of Metastock 8.0 for one reason, and one reason only, the reportedly redeveloped system tester. Metastock `s one major error is always the lack of back testing capabilities, though previous versions of Metastock are head and shoulders above the competition on other fronts.
But what criteria you use to trade with, be it moving averages, candlesticks, Fibonacci retracements, or any other trading system, you're going to need to test back. Everyone should thoroughly back test or simulate their trading system in a way that can match the conditions you will trade in. It `s something all serious traders do.
Consequently, when Equis International (the makers of MetaStock 8.0) announced "an entirely new type of exploration that emulates running system tests on an entire database of securities", I could hardly wait to get the MetaStock version 8.0.
While waiting to receive my copy of Metastock 8.0 I started building trading systems. By the time my copy of Metastock 8.0 finally arrived, I had about 20 systems ready for testing and could not wait to try them.
However, when I loaded the software, I was in for a surprise. It looked like nothing had changed. I thought maybe Equis International kept the same interface and added greater flexibility and more options, but after searching in every nook and cranny, I found almost nothing that was new. It looked the same and, except for a few minor changes, it was the same!
When I got to the system tester - now called the Enhanced System Tester "This was my main reason for upgrading version 7:22 This is what seemed to be only real difference between MetaStock MetaStock 7.22 and 8.0,...
After fiddling with the MetaStock 8.0 Enhanced System Tester for a few hours, and testing my 20 systems, I reached the decision that I wasted my money on the new version of MetaStock 8.0. Despite the supposed improvements to the Enhanced System Tester, if it `s predecessor, left a lot to be desired.
Although the 8.0 MetaStock Enhanced System Tester tests multiple effects in a batch, it treats each effect independently from the others. Therefore, when MetaStock 8.0 the first safety test, it uses your predefined float and take the trade chosen during the test period. Once this is done, repeat the same process for the second security, with the same original float, without reference to the first security.
In the end, the same result that you would have if you just tested each security separately and summed up the results you receive. Not only is this process terribly slow, but the whole reason for testing your system has gone the way. When you are done with all surveys, the performance of your trading system is still unknown!
The moral of the story is that if you already own MetaStock 7 don `t have to worry about upgrading to MetaStock 8.0. Just stick with the version you have and keep your fingers crossed that Equis International gets the right MetaStock 9.0.
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