do
hello and welcome to this quick overview of AutoChartists
performance statistics. most people who come in contact with auto Chartist are
either referred by their online broker
or friends or family members we rely on the good quality of our product to get
its general adoption
and use be spread around by word of mouth of by the people who are using it
themselves
because our customers are up based sales representatives.
see on our website for some of the testimonials that our clients
have left for us.
this may be all good and well but if a cautious trader is introduced to autochartist
for the first time
he or she will invariably ask the question so
does it really work? many people nowadays
don't have the time to first test drive an application or service before the
subscribe to it.
that is why we've introduced are own performance statistics
straight into the application itself to answer the question on a continual basis
how well is autochartist doing? the results are transparent
and updated on a weekly basis, although the numbers do not change dramatically
from week to week,
since the performance stats are measured over a minimum of at least six months.
I want to show you in this video where to find it,
how to read and interpret the results and how they're calculated
lets start at the where? In your autochartist application
click on the performance statistics tab. you'll notice
that there are three columns of stats broken down by exchange or instrument type.
for example Forex or New York Stock Exchange or commodities
so you can click on any of the buttons to draw a report that is specific to
that exchange or type of instrument.
and for that particular analysis type. I want to just quickly stand still for a
second at what types of analysis we have performance stats on?
you'll notice that we have separate columns for
key level break outs and approaches and one for completed chart pasterns.
the reason why we don't have a column for for the fibonacci patterns is because
there is simply no computationally efficient way for us to determine
whether a Fibonacci pattern
has been successful. I'm not suggesting that it's not possible to code
I'm just saying we don't have the kind of resources at our disposal
to do it effectively at this time. now if I click on any of the buttons
each would bring up a report in the same format. it would just be the underlying
data set that the report is based on
that would be different for every button. do take note of the
very last one which is inconspicuously named "all",
and encompasses the overall statistics of the entire dataset
for whatever instruments are available on your version of autochartist.
the report is essentially a measurement
of a number of successful patterns, broken-down
by specific classes of attributes that allows the reader to spot areas of
higher
or below average performance. the first thing i need to clarify
is the definition of success. when do you regard a pattern
to have been successful? to illustrate visually
I've taken a simple completed pattern and measured the pattern length
from where it started to where it was identified. now if you take
this same length and apply iy to the target level this becomes the area
up success. if the price goes
in your insight this green block we consider the pattern to have been
successful.
so the report contains some basic information
in case you want to print it out for your own records so you'll know what
you're looking at.
this particular report is for forex
for the period 28 November till 23rd of May.
that's the past six months. and the organization field is just a reference
to your broker
through whom you have access to auto Chartist. the Big Green
numbers are the total number of patterns that were evaluated
and the number of patterns that were successful. that is expressed below as a
percentage.
then the rest of the report is summarized in the table of contents.
each attribute by which performance is broken down is listed here.
it's an HTML reports you can click on it as a hyperlink
for example from this we can quickly see
that head and shoulders and inverse head and shoulders are great performers,
while falling wedges have not done so well for forex.
note that we deliberately included the number of patterns in each sample set
so that you can evaluate the significance of each percentage
if you look at double tops and bottoms their 100 per cent
is a score of three out of three and the fifty percent
is one out of two. either of these can be regarded with much confidence really.
contrast that with 52 out of 61
which is a much more credible score of eighty-five percent.
the symbols we've included are the ones with the highest number of successful
patterns.
so it's the top 50 or so sorted by this column.
lower down in the report we see some two-dimensional breakdowns putting
together for example
patents and intervals. from this we see
that for channel downs we have more success on
end of day intervals then shorter intervals.
these two dimensional breakdowns do not include the total pattern counts,
mainly just to keep the information readable.
all the other breakdowns in the report are just different variations on these two
teams,
so now you should be able to make sense if it on your own.
we urge you to use the statistics cautiously and wisely,
not to jump to any conclusions that contains an expectation of
easy money. you should be aware of the risks involved
and view these stats as an academic breakdown of past achievements.
it cannot reliably predict future outcomes
I hope this has been a useful video thank you for watching it
and as always best of luck with your trading
do
good