Are there any good software packages that can analyse charts for you, and help predict the market? Sounds amateurish I know, but if there is such thing as technical analysis, there should be software that does the analysis for you.
Taking it one step further, I would like the software to also wake me up with a gentle nudge at the end of the trading day, whisper in my ear how much money I made, and then help me drift back to sleep with a soft lullaby.
Your a genius! If technical analysis can be taught and applied scientifically, then there is no reason why those algorithms cannot be programmed. There must be software out there that does that.
Clearly an idea whose time has come. Please keep me posted. However, while you are researching the various offerings, please be sure to differentiate the turnkey products from the turkey products.
I hear what you are saying... However, if there is such as thing as technical trading (which there is), and investment banks are spending millions on developing black box systems, then there must be some software out there that can be bought which does the same thing. But I could be wrong (and stupid!).
And if there were, everyone would have it. Think about what you're saying. And google Long Term Capital.
I don't think that LTCM was a black box thing. And wasn't the fall based at least in part on a misplaced overconfidence in a timely reversion to the mean under any circumstances by Meriwether? As I understand it, towards the end, Meriwether had blind faith in the model that exceeded the confidence of the academics who developed it.