You are asking me for specifics on how Im trading. I am simply saying: "you first". Im not in least concerned if anyone believes me or not. In fact Id just as soon they didnt.
it is all over at the other site http://www.drudgereport.com/mattjj.htm , we shouldn't be concern with it.
In other words, the challenge to find someone who makes money off Jack's ideas remains as open as ever... In fact, so far no-one has even produced a cogent coherent interpretation of what is supposed to be Jack's approach to the markets. I predict that until this happens Jack will continue to babble and his followers will continue to believe that they know what he is talking about.
Been there, Done that... A lesson learned... 1. Sensitivity / Frequency. More sensitive it is, the more frequent the parameters change. The trades/parameters get swung around too much just like a MA during a congestion. So that's one thing that's hard to set. 2. Well to fix the problem of 1., I used some statistical models to get the mode and limited the range of flunctuation of the parameter... 3. Well... I did 3 more integrations that I won't mention... but simply... How much you play with the data, whether it be the compression or other aspects, what begins with a linear quality ends with a linear quality. Another important point would be, that how much you play with past data (current included), you never know what will happen the next second. If the neural net model was that great, I'll use that model for some arb or hedging trades... I'm sure it'll make more money that way... But it's from a newbie quant guy... who knows you might win the Nobel Prize with this...
I certainly wouldnt classify myself as a follower and my primary way of trading bears little resemblence to what hes talking about but I have his setup on a separate computer and have been tracking it for awhile trying to put two and two together. The specific thing I mentioned has to do with taping and the day after I read the comment I spotted the same formation and traded it and have a couple of times since. Three out of four times it was profitable. What I dont understand is why so many people are intent on discrediting him. His stuff is extremely hard to read but I and a few others find some value in it. If he irritates you why not just ignore his stuff and move on?