Yes I'm learning about that. This is a recent revelation for me. That's why I found the coin flip thread so interesting before it got trashed. I like the idea of this and stat based strategies because they are objective. I'd also bet there are far less retail traders doing those strategies because it will take real work and thought to successfully implement them which makes it more appealing to me.
Excellent post! I could sign my name under each line. The slides are hilarious! They look exactly like one of my presentations. Conclusions: All quants think alike. Knowledge is the must, Skill = your ticket to success. Cheers, MAESTRO
Or was that 'the world is your lobster'...anyway, if you're a maths dunce you can still make it because of the wonderful world of chart patterns (takes a bit of working out to discover which the best ones for yourself are). I suppose it's geometry, always my favourite part of maths. But price patterns do tell a story and can be used to trade effectively from (as long as you are disciplined in all the other areas. Charts are maths in motion.
jack hersheys little brother shows up to PITCH his products and ideas he sells in $$400 books and 3rd world seminars to the gullible and naive. what an ignorant trying to sound learned. the PIED PIPER of hersheydom
Can someone please define what trading by "price action" is? Is it just having a simple chart - candles, OHLC, line - just plain price and no squigley lines on it? Is it just watching the depth and price move - e.g. watching the bid offers and depth on ES? Does volume come into the picture?
Partly correct but couldn't agree completely - you describe it as 25k ants and one 50bln player when in reality its more like 25k, 50k, 100k ants; 1-50 mln average fund managers and 50mln+ hedge fund managers - most importantly all these can trade against each other. I agree with Raskolnikov that TA isn't only MA crossovers and Bollinger Band violations which by the way still work when applied correctly I truly believe FA, TA and SA all work when applied correctly and I apply elements of all 3. The debate should center around correct application not classification of analysis.