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faOi
09-03-2015,
The Prometheus system results for 2014 are quite impressive. As of today there have been 91 trades in total with 89 completed and 2 currently open. The most impressive point being there has been no losses so far making it worth monitoring further. It is based purely on the end of day closing price and from closing price to closing price has delivered 7981 points since January 2014. It is updated regularly showing both open & closed positions and can be found at the link below.

https://docs.google.com/spreadsheets...87&single=true

Garry95
09-04-2015,
There is not much to get at the moment except looking at ways of maximising these good signals that are coming out of this system, hence the list of trades. The system will take an age to explain and currently takes a lot of manual work but I’m working on an Excel system that will automatically collect the daily closing prices, compute the algorithm and make an automatic conclusion.

This system has only been in operation since the beginning of 2014 with companies chosen by me. The amount of companies chosen is limited due to the manual work required to compute the algorithm. The results so far have been very good without a losing trade. I’m sure the losing trade will come along sooner or later. Let’s see if the two currently open short positions on Easy Jet or Ebay become the first losing trade or if they join the growing list of winning trades.

https://docs.google.com/spreadsheets...87&single=true

effiegj11
09-04-2015,
If you have an algorithm for your buy/sell signals you should be able to implement it with macros in a spreadsheet and run it against the entire market in an hour or two. As far as a stop is concerned in the type of system where you add on, your stop should be a percentage of your account value, typically 2% to 3%. I would assume you would buy/sell in increments of 50 or 100 shares at at time. You don't need to wait for a loss to implement risk management in such a system.

HaroldMaip
09-07-2015,
The algorithm is made up of a step by step procedure of calculations using Excel. These step by step calculations are not all linked into one Excel formula. That may be possible but probably beyond my patience. As manual input is required I limit the amount of companies to scan using the usual criteria. Once the company is in the system I tend to leave it there.

I like the stop you suggested and will look at it. I’m currently looking at the previous 120 day low closing price in a long trade as the stop with the view of not taking the trade if the closing price of the long trade signal is lower than the previous 120 day low closing price. Your right about not waiting for a loss to implement risk management. Guess I cannot give up searching for the Holy Grail!

I would not buy the shares but spread bet them instead. So after choosing a company I make sure it is available in the spread betting platform I use.

The entry signal could be improved further. I could wait until the current method of adding on daily is showing a significant loss and jump in at that better price. For example, my system indicated a sell signal for Ebay on the 3rd November at a closing price of 5270. The current add on method is showing 10 sell at 5374 which is currently 61 points away from today’s closing price of 5434 making for a 610 point deficit today (based on a rounded up closing price to 0 decimal point) Maybe a better entering point would be after a certain deficit value had built up after a signal is given. In this case entering the trade on 14th November at 10 sell at 5434. Let’s see how it pans out.

https://docs.google.com/spreadsheets...87&single=true