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Which List Type: Dynamic or Static?
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JimDean
Posted 8/4/2014 9:49 AM (#5939)
Subject: Which List Type: Dynamic or Static?



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In my opinion, OmniVest DynamicLists are the best thing since.
(So to speak :-)

For years, OT and VT have been missing what I've often referred to as a "Pre-Filter" block - that is, an operation that could be built into an OT Strategy which would, *bar-by-bar*, filter a very large "population" of Symbols down to an intelligently-focused list, usually including price and liquidity limits, and often also including "price personality" behavior filters.

That is, back testable, dynamically changing OmniScan.

Finally, via OmniVest, we have it - DynamicLists. This feature is one of the most valuable and significant capabilities of OVest. It overcomes concerns related to "hindsight" when using popular filtered lists such as the current SP-100. It auto-shifts to and from symbols whose price and liquidity vary over time. It allows for generalized price-behavior evaluations to be implemented "behind the scenes" without forcing the user to continually adjust things.

DynamicLists can be used to continuously and automatically tailor the SYMBOLS being considered TO the strategies that the trader considers to be most worthwhile.

The value of this cannot be overstated. It "completes the circle", conceptually - normally people spend huge amounts of time to develop or tune system entry & exit logic to get better performance from a given static list of symbols. DynamicLists allow the trader to start with a "good entry exit model" (aka "System" in OVest), and tailor the symbols to it, on a bar by bar basis.

The cool thing about this is that since the symbol-selection tuning is based on OScript formulae, the logic that works well in the past is likely to work similarly well in the future (that is, re symbol selection - YMMV, as Keith likes to say, for actual profitability).

So, without apology, I'm a fan of DynamicLists. And in the TT world, there will be a lot of effort out into their development and use.

What about static lists? Welllll, the short answer, in my book, is for the most part to avoid them. But there are some exceptions:
1. If your strategy is focused on a particular Industry Group, then since the MG lists rarely change, that might be cause for using a Static list.
2. If you want to do relatively "random testing", then use of the chopped-up Russell lists that OVest provides can be useful.
3. If you deliberately focus on trading only a small set of symbols (like major eminis or forex), then a custom static list is clearly the way to go.

Much more to be said about this!
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