This is `100% brilliance--- I agree completely. The 10k hour figure to learn how to read charts is a total joke. why not 50k hours or never?? Why folks use the massive computer power to build charts that are discretionarly interpreted is bizarre. It's just a cop out for the inept regardless of what they say or claim. Anything that can work in the market can be programmed, EVERY chart artist who has ever tried to "program" their supposed system has failed. This is fact. The reason is charts are discretionary---why they just refuse to admit this shows the lack of understanding on the chart readers side. Edge exists, it simply isn't where the majority are looking. surf
cygnetnoir, You back to pimping you Gambling theory again? Wow. Answer this: What is a "bet"? Do you own something of value with a bet? Never mind. Don't answer. You're an idiot anyway. With your semantics, I'm sure you define all women are "Hookers". And I'm certain that makes you Gay. Of course, I mean "Happy", since that is what Gay means right?
yes that's what I am saying, very astute of you there is no "Edge" anymore than there is an "Edge" for Mcdonalds or Target or Apple you are in the retail business how many times do I have to explain it to your stupid ass? sit around sometime in jail and play blackjack for cigarettes "all ties go to the dealer" and you will find out what an "edge" is
The question becomes: How much programming simply automates what the human is doing anyway? In other words, aren't most programs born from successful discretionary trading techniques?
So again, why are you here? There is no edge, there is no point to trading, are you trying to open our eyes or what? And people who consistently make money for extended periods of time are just incredibly lucky?
you are part of the merchant class there is no particular edge you make money by buying low and selling high it is very risky but beats working a real job but if it's really imprtant to you to think you are not a gambler, and have some kind of unique edge, that somehow nobody that ever came before you discovered, dream on. Like the man said, "I'm not any smarter than you, I've just been around a little longer."
A chart is a graphic representation (graph) of price movement and volume. From what I've seen, most automated trading programs are based on price and/or volume. What is the difference between a computer placing orders based on values of price/volume and a set of eyes placing orders based on a graphic representation of the values of price/volume? Are you implying that every successful automated trading program is based on something other than price and/or volume?
The reason why not mechanical algo is simple (for me at least): I don't know 100% mechanical edge which produces as good result as my chart-reading skill does. If I knew, of course would just run the algo across many markets and devote the free time to philosophy instead. Chart-reading is not a religion, just optimal way to make profits... so far.
Actual businesses can have an edge. These are called economic moats. They can be lower raw material costs; economy of scale; permits for operations; etc. AAPL is the largest consumer of DRAM on the planet. They have pricing power no one else has. There are traders with actual edge, but there are very few of them. Edges would be: favorable funding rates, access to non-public information, truly superior execution, etc. Only the smartest hedgefunds and banks have these kinds of edge which is why they can make money year in and year out. Having a system isn't an edge even if it's statistically profitable. A profitable system can beat the fact that you don't have an edge or it can exploit an edge that you have.
Good point, NoD. Any computer algo uses TA by definition, because I've never heard of algos which would interpret fundamental data and make trading decisions with precise timing based upon it.