Not really. You can be profitable only when you get to identify a certain 'edge' over the market, or be able to tap into some inefficiency or mispricing. And it takes quant methods to identify, quantify, and act efficiently and quickly upon these. You simply can't rely on some chart patterns for the same. Moreover, to identify a statistical significance in some phenomenon, be it normality, or cointegration, or anything for that matter, you hve to rely on statistical tools and models. I understand the myopic view on quant trading that many people have, simply because it's too much of work, but fact remains, since Jim Simons, many institutions have adopted quant, and are profitable as well, while using it.
As mentioned you guys are re-inventing the wheel. The Fibonacci sequence. It’s been called “nature’s secret code,” and “nature’s universal rule.” Just take a look at the pattern it creates and you can instantly recognize how this sequence works in nature like an underlying universal grid. A perfect example of this is the nautilus shell, whose chambers adhere to the Fibonacci sequence’s logarithmic spiral almost perfectly. This famous pattern shows up everywhere in nature including flowers, pinecones, hurricanes, and even huge spiral galaxies in space. https://blog.quantinsti.com/fibonac...nacci sequence,areas of support or resistance.
With it being such a strict universal rule,when it blasts through a level(especially a 50%) is it assumed that the calculation was wrong eg that it was measured from the wrong spot in the first instance?
No not necessarily. If wave C = 161.8% of wave A, wave C can be a wave 3 of a 5 waves impulse. You will not know until the level is broken.
here's a multiplier for your returns Code: import numpy as np sigma=.2 r=.043 atmK=32. d=45 magic = lambda N: N/2*sigma * np.log(N*r) * (( r**2* 1/r ) - (r**atmK * r**-(atmK-1))) * np.sqrt(d/360.) magic(5_000_000)
Since you promote fibs in all things, if you haven't already, you'd enjoy Christopher Alexander's "The Nature of Order" which catalogs many fibs in nature that aren't typically seen in contemporary media. Alternatively, if you enjoy the esoteric, "The 216 Letter Hidden Name of God" reveals some interesting patterns within the Fibonacci Sequence. While many enjoy roasting you, how the modern world has classified Time is derived from Astronomy and it's predecessor Astrology. We can trace it to Sumerian culture and their Sexagesimal system (base 60). The historical study of Time is an interesting excursion and answers many "why's". Although it's frequently associated as a level, 50% isn't in the Fibonacci sequence