QBL gratefully acknowledges Commodity Systems, Inc for their assistance in compiling these FAQ pages.

Unfair Advantage manual uaman.pdf

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Q. How are daily updates retrieved with Unfair Advantage?

A. The recommended method of access is via the Internet. Using your own Internet connection (CompuServe, Prodigy, America Online, etc.), you can avoid additional telephone expenses and get massive amounts of data in efficient high-speed connections. Same-speed or slower dial-up collection is also available directly from CSI as a back-up using our modem rotary.

Q. What data is downloaded each day with Unfair Advantage?

A. The software picks up daily updates for ALL world commodities for all days inclusive of your last collection for up to a two-month period through the current day. The initial release will support just commodities and futures indices, but stocks, funds, indices, and options will follow later.

Q. How long does it take to download every market and distribute to my complete data base?

A. It takes one to four minutes to download over 2,000 contracts and a couple of seconds to distribute.

Q. Why is historical data stored on the user's own hard drive after delivery on CD?

A. Most CD ROMs cannot be updated, requiring that you store new updates on your hard drive and purchase new history CDs quarterly or semi-annually. This is not the case with Unfair Advantage. Our software squeezes a copy of the ENTIRE commodity data base on your hard drive, updating and correcting errors daily using minimal space. The initial release requires about 30 Mb of hard disk space.

Q. What will happen if I don't update my files for a while?

A. When you begin accessing again, Unfair Advantage will automatically pick up all the days you missed for up to nine weeks in the recent past. This product requires that all users maintain their files in intervals of nine weeks or less. If you ignore this requirement, a set-up fee must be paid at then-current prices to receive a new CD and reactivate the software. Please note that since this is a licensing agreement at far less than regular rates, data will not be accessible with Unfair Advantage if you discontinue daily updates for more than the nine-week reserve period.

Q. What type of analysis is provided with Unfair Advantage?

A. Unfair Advantage's data storage technique allows you to build and graphically or numerically view specific contracts or any type of continuous file at will. For example, if you are interested in CBT Corn, Unfair Advantage can display a back-adjusted fifty-year chart in a second or two. From there, you can select from a few technical indicators including seasonal calculations or, if you prefer, use your favourite third-party analysis system for study.

Q. In some instances, my CSI data has the close value higher than the high, or lower than the low Why is this?

A. During the initial setup of UA, you are given the choice of expressing data in three formats. The first format is exchange released form where settlement prices are often outside the high or low range. Second is a form where highs and lows are compromised to include the out-of-range settlement and the third form is where the settlement is forced to lie within the high-low range. In this last case, the settlement is reduced to be the high or increased to be the low whenever they lie outside the range. When you answered the question about "data presentation" during initial setup, you have selected the first choice.

You can select the other forms by pulling down your View menu and re-selecting your choice. Whenever the settlement is out of the high-low range, the second choice leads users to falsely believe that trades could have been executed above the actual high or below the actual low when this was clearly impossible during the actual trading day. Similarly, when you select the third option, the settlement is lost and you have no way to calibrate your equity position at the end of the day because equity is based on settlements, not the last trade of the day.

Only with a product like UA can you get data in the clean form that represents events as they actually occurred.

Q.  When I select any continuous contract from my UA portfolio, I can choose to switch contracts based on a date, volume or open interest. The data selection is pretty simple, but would you please explain the criteria used for rolling based on volume or open interest?

A. The first day the volume (open interest) of the contract coming into view has a value exceeding that of the contract in force, the system will roll forward. Please note that volume and open interest are released a day late, so the actual rolling will occur on the day the volume and open interest are publicly known, not the previous day when the threshold was actually passed. Once the rolling occurs, there will be no regression in the contract followed, even if the earlier contract should again surpass the later in volume or open interest.

If, for example, UA moved to the June contract from the March contract because volume for the June contract exceeded volume for March, then the next day the March volume overtakes the June, the software will force in place the June contract. No reverse rolling will occur.

Q. Although I have unlocked the full history provided and successfully updated by UA database through the Internet, I am unable to view an existing chart. I select Open from the File menu, but upon browsing for a file and selecting it, I get an "Unexpected File Format" error message. How can I see my data?

A. In order to graphically display a contract, it must be created (use NEW, not OPEN on the file menu) or tagged for "Chart" format in your portfolio before the portfolio is built. The Portfolio Manager gives you the option of "Chart" format as well as several other types of files, any and all of which are accessible to you. Charts are normally re-created each time they are viewed, but, if you create a chart with UA and save it, you can later open it through the file menu as you described.

Q. I like the fact that I can view back-adjusted data files with UA, but when I write the same files for viewing with another program, they won't chart. How can I view these back-adjusted files outside UA?

A. Back- and forward-adjusted files may contain negative values, which UA can handle with no problem. Many market analysis programs cannot read negative numbers. After all, stock and commodity prices can never be "negative" in the real world. Several algorithms for creating continuous series with AU can create these problematic negative integers. Fortunately, the solution is simple.

Within UA's Portfolio Manager screens for creating back-adjusted files, you have the option of "detrending" the data. Use of this feature may eliminate negative values from the resulting time series, while adding better visibility to the lessons of the past. Switching from back-adjusted to forward-adjusted may also make the negative numbers go away. Another (less preferred) method with UA is to raise all values above zero. In the View menu's User Settings, choose General (application preferences), then click the check-box that says "Raise all continuous contracts above zero". At least one of these methods should alleviate the problem you are having with charting back-adjusted UA data in a third-party analysis program.

Q. In creating charts with UA, my seasonal Index data does not load. I get a "run time error" each time I try. What causes this?

A. UA probably has insufficient data to produce the seasonal study. The program requires a file of two or more years to produce a one year waveform of + or - 3. sigma readings. Even with two years, you will have offered insufficient information to produce a reliable waveform for evaluation, although the error message will be eliminated. We recommend using 10 years or more whenever you create a seasonal index study.

Q. Does CSI have plans to add user-defined studies to UA?

A. As a matter of fact, a new "scripting language" which allows for user-generated analysis is currently in the works for UA. We expect to have a Beta version available before the end of the year. We are actively seeking suggestions and ideas on this program from our customers on what this module should include.

Please email your suggestions to techsupport@csidata.com.

Need answers on something else? Please email support@qbl.com.au.

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