Those of you who frequent the more sinister threads on ET have already seen teaser references to a new strategy trading tool called Liberace levels. I emphasize that this is not TA, it is voudoun. But it is far less absurd than some approaches here based on imaginary events which pass for strategies. These are hard numbers, folks. Unlike other strategies which lack precision, the accuracy of this one is easy to assess. As you are aware, I give all of my new neo-TA inventions joke names. That is to assure that no one takes them seriously, much less uses them. Hence I named this approach Liberace levels, not only as a pun on Fibonacci, but also as a bow to their musical origin. The tool is based on the eternal harmonies of the universe as represented by the Western harmonic musical scale, in this case the major scale. You will recall from "The Sound of Music": whole step whole step half step whole step whole step whole step half step. Don't make me sing it to you. This makes twelve half steps in the well-tempered major scale as defined by J.S. Bach, where a half step of an octave is successive powers the twelfth root of two. Taking the ratio of each step to twelve, we derive the six Liberace levels: 0.1666etc. 0.3333etc. 0.4166etc. 0.58333etc. 0.75000etc. 0.91666etc. You will note that these must be mathemagically valid retrace levels, as five of the six are accidental transcendental numbers. You may feel free to calculate them out to the precision required to calculate any given retrace to the tick or minimum price increment of the instrument you trade, a task somewhat facilitated by the repeating nature of the last digits, which I believe even the dumbest ETer can master (and you know who you are). I emphasize that these levels are to be used only in bull markets. The minor scale (which see) is used for Bear markets. I leave it as an exercise to the student to calculate the bear Liberace levels.
Some asshole here (which covers a lot of the population) accused me recently of never contributing anything useful to ET (as if that would make any sense to do). Stung by the pain of an insult from someone I do not even know and whose opinion I would not care about even if I did know, I thought to myself, "Surely that can't be right. My oeuvre of posts is spotted by seemingly legitimate looking charts like an old stained pair of underpants." Then I remembered Liberace Levels. I use this every day. So I dredged up this old thread (kind of embarrassing that you can find your own foolishness going this far back, there oughta be a statute of limitations). And was astonished to note that despite there being over 300 views, there were NO responses. So I did good. If you decide to give away something useful on ET, always be sure you make it look stupid.
Sam thanks vikana for his on-topic reply. Sam says that very few automated operations need to be FP, and the few can be performed at snail speed. Sam says that your suggestion is too expensive to develop and implement, even if it is the fastest (doubtful). Sam says that nothing more sophisticated than a fully-open-sourced SPARC master(fp-slow)-slave(integer-fast) is needed per exchange-instrument to CRUSH the current HFTalgos, provided there is a large fast cache available to store lookup tables computed by FP at snail pace. Sam says this is no arb operation. It's a rape and pillage operation. If those algos were human, they would be unable to walk after trading with "MASTER-BLASTER".