I did additional tests based on Perl's work/book and results were even worse. But you touched one interesting point regarding simplicity. I think...
Be emotionally / financially ready for the worst case scenario: Not taking money from markets for an extended period of time.
The backtest of Kaufman MA on a large portfolio (fixed fractional position sizing) is here:...
Most quantitative funds (CTAs, managed futures, etc) do things differently. And most of them never put fundamentals into models.
Even "reaction" is "prediction" that the shape of distribution of trades will hold.
There are few journeys: I. Pure fundamental analysis (e.g. regression models -- mostly waste of time); II. Fundamental inputs into technical...
liquid US futures
Fundamental analysis is questionable, but fundamental data used in a more technical way (noise filtering etc.) are used by some CTAs with a goal...
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