Professor Na Wang of Hoftstra??? What? WHo is Professor Na Wang and what the hell is Hofstra? An academic institution? Ranked how exactly? Rank 453 out of the top 1000 community colleges? Oh wait I just checked, it is ranked #135. LOL Dude, please, spare us with your BS.
Not that I'm doubting your expertise, but who exactly is conducting these backtests and doing the scrutinizing? When the experienced TA guys in this thread conduct their "forward tests" every week, they come out positive more often than not. Please tell me if I'm wrong, TA guys.
Neither would have your method & there are valid reasons for it. Can you backtest & automate Soros's decision making?
I gave you a bone you silly idiot...just one name out of many. In fact, if your research was adequate...you will see he is just one professor out of 14 professors from across several universities involved in the study. Guess what...where does MIT, Penn State (smeal) business school, Harvard, Univ Texas and Brown rank on your ranking list ? Note: I'm assuming you're looking at the business rank list and not social studies ranking list. Which universities from the above have a state of the art trading room and which have had at least three TA lecturers from top institutional firms from around the world...per year ??? Now tell me the names of the other Professors from those universities involved in the academic study or go back under neath your slimy rock ??? P.S. Fact remains, an academic study was done and the results are in fact publish in top professional journals/magazines...well respected within the industry. Simply, the names of those and different universities conducting the study isn't the point. The point is that Hedge Funds use TA...that's the OPs answer to his question...all other discussions not on topic...just argumentative. Simply, anybody denying that Hedge Funds do not use TA in their decision making process...the earth must still be flat. Once again, try staying on topic...do they use TA ??? Yes and not for marketing purposes and they outperform those firms that do not use TA. Now go scratch that small brain of yours and figure out when do those Hedge Funds using TA typically outperform those that do not use TA. ***Unfortunately, its something most retail traders using TA does not take into account in their trading via TA. This is just one of the things that separates how professional firms use TA versus the typical ET member that uses TA. Thus, its only logical to assume even the TA basher doesn't view TA the same way as professional firms that use TA.*** P.S.S. Two last questions if you know how to do research...what's the names of the +5000 Hedge Funds involved in the study and were there any foreign Hedge Funds studied...I'll make it easy for you...just name 10 from the +5000 or how many of the +5000 use TA ??? Which hedge fund that uses TA is rank in the top 50 of all hedge funds for the past 5 years ??? Reminder: They use TA but its not the only thing they use and its not the most important thing they use...but they surely use it in their decision making process. P.S.S.S. Welcome to my ignore list for ETs the earth is flat believers.
Goldman Sachs...only if its fixed income or currencies and there's no ema crossover involved. They have a few folks out in Europe that are members of the STA (Society of Technical Analysts). One of them gave an excellent lecture once on volatility (VIX) and risk on the FTSE100. P.S. No names given...we can just call him the guy at Trade Desk xXx like the Vin Diesel action hero movie @ http://www.imdb.com/title/tt0295701/
I proved in another thread at length that the concept of "forward tests" does not even exists. There is so much garbage that snake oil salesmen sneaked into the arena of algorithmic trading that it becomes rather bizzare. I had a lengthy argument with even an author of backtesting books (think his name was Benny or something). Turned out that he is a Scharlatan who never made a dime other than selling books who constantly invented new terms for concepts that either never work or never existed and are of no use whatsoever. It also did not help that he inflated his academic record. Forward testing or walkforward testing is a totally flawed concept and nobody who really is worth his two cents in algorithmic trading (especially nobody at quant desks) uses this BS.
Which is precisely why some strategies and ideas cannot be automated. I do trade some discretionary strategies that could not be systematized.what has this to do with TA. You shoot left and right my friend but could not even forecast whether markets will go up or down based on your "surefire" chart you accused me of not seeing the chart patterns within. This is the problem with you TA folks. I agree with another poster who said that there is no proof , meaning, no verified positive performance metric of any fund that claims to use TA in the retail sense, in public domain. Nothing. Not one proof. Yet you try to convince others. How? If it works for you then simply shut up and move along. But accusing others and making bold claims calls for proof even the most minimal one.
A) typing words in bold does not make your previous post any less BS. B) you mentioned one university; Hofsta or whatever it's called. It's way below average ranked university I and most others have never heard of. I studied at CMU and traded for more than a decade at banks and hedge funds including New York and had to google to find out this shitty uni is in Long Island. Now you turn around and rattle off a list of other universities. For what purpose? What do you try to prove even? C) TA in the retail sense is not practiced or utilized at any hedge fund or prop desk at ibanks that ever made money. Stop making up lies or incorrect claims that you simply cannot back up because such funds simply do not exist. You can divert from the topic as much as you like and talk universities but it won't change this fact. D) show us what aspects of technical analysis that retail traders have access to lead to profitable trading. I am waiting ....in fact I have been waiting for years and have been shown none. Maybe you should also see there are some who have a lot more professional experience than you had and may have seen a thing or two above and beyond the horizon you are staring at. Retail accessible TA among successful traders was unfortunately not one of such things. But as always please prove us all wrong. Please provide the evidence to the contrary. I am happy to take it serious and be corrected if being wrong. Ps: got it , anyone who challenges the tin foil hat wearing TA disciples is put on ignore. Well at least we won't hear much more about some studies or trading labs at Hofsta ;-)
No names given....lol. top secret of course. Dude you are outright bizarre. You can give out the name ...no need to panic I won't abduct him and squeeze the holy grail out of him. In case you are too dumb to see those TA chaps at ibanks are kept around purely for marketing and client service purposes. You clearly never seem to have worked at any such firms. [TE="wrbtrader, post: 4186782, member: 180762"]Goldman Sachs...only if its fixed income or currencies and there's no ema crossover involved. They have a few folks out in Europe that are members of the STA (Society of Technical Analysts). One of them gave an excellent lecture once on volatility (VIX) and risk on the FTSE100. P.S. No names given...we can just call him the guy at Trade Desk xXx like the Vin Diesel action hero movie @ http://www.imdb.com/title/tt0295701/ [/QUOTE]