Austin...why bother. Beau is a blowhard who blabs about his system that is so good that he is worried about position limits with the CME down the road. Funny considering others said his systems lose money on that paper trading site that follows systems. I mean he does trade an account with 150k so he should be concerned with CME position limits. Hilarious. The guy is either completely insane or so uniformed it's frightening. It's funny how people on here who trade a certain way think that their way is the only path to success. For the record I know PLENTY of traders out there doing very well (and not guys trading a 150k book....much more) who are more of the old school type traders....not the quant type guys Beau daydreams about. The guy is a clown.
Funny.....I have heard of plenty of quant type funds that have gotten decimated in the past. Not saying some aren't very profitable, but those who seem to think that quant/computer driven funds can't get clobbered...well.....are uninformed or lazy. " But any skilled trader in firm control of his emotions can follow some simple price action rules that have worked forever in markets" I couldn't agree more. I started trading in 1990. A LOT of the same idea/strategies still work. Just have to put the time in and do the work. Most of the 95% that fail are lazy, are crazy emoitonal when trading, gamblers, and have no idea how to manage risk.
James, you're overdue to go back on The Daily Ticker with Aaron Task and Henry Blodget. I can tell they enjoy having you on.
If you've ever woken up dreaming about topological probability spaces in the markets, then, yes, maybe I do dream about quants, or it can be the Emmanuel Derman <u>My Life as a Quant</u> in me.
That's great. Just a reminder that you haven't yet responded to my post earlier in this thread: http://www.elitetrader.com/vb/showthread.php?s=&postid=3483647&highlight=TA#post3483647 Also, do you think guys from Schwager's Market Wizards book(s), ranging from Martin Schwartz to PTJ, were BSing about their use of TA, whatever their individual interpretation of it may be?
when you are on your game, this gig is more arithmetic than calculus. when you start thinking its calculus, it becomes a lot harder to make money.