I am reading several posts on here about backtesting set-ups and so forth. Is there any credibility to backtesting to determine if the same set-ups or strategies will work in the future? Having spent his fair share (or perhaps way too much!) time in a casino or 2, I understand full well what the experts mean when they say "the dice or roulette ball have no memory" . Is the same true for the stock market? Can you look at past results and charts etc. etc. and determine with any kind of reliability of what will happen in the future? I need to do more research on this, but was curious what others on ET think about this, first hand or otherwise.