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Like cleaning toilets maybe? Or humping drywall?

I can agree with that. Definitely some smart guys there.

I beg to differ. I see it more like the blind leading the blind. Having read through many posts over at the Quantopian community, I couldn't help but chuckle at how clueless they were about market mechanics, microstructure, and execution.

DTN IQ

I can't discuss the process publicly in detail, but volatility based studies would be a good starting point.

This can be quantified and automated without looking at a chart. A positive expectancy would be dependent on how creative you are with the math, and what and when you trade.

Yes. Subjectively assigning probability to things like triangles, double/triple/V bottoms, head and shoulders, euphoria/capitulation is a dead end.

Pretty much. It's live or die by the numbers. You're either a good handicapper, or not.

If you can mine, manage, and analyze the data properly within a strict framework, you can navigate through the noise once the stats look convincing.

It usually isn't. That's why most conventional approaches fail. You need to have a handle on direction at first sign of signal strength, before price further accelerates. Also execution capability to position yourself, coupled with optimal size and risk management logic. No, definitely not easy...

Most short-term black box systems don't hold up without added layers of complexity. I run gray boxes with a few inputs. They all started out as white boxes.

Great topic. Charts are useful within a rule based, statistical/data driven approach, as it allows us to visualize data. What you do with that data is what separates the wheat from the chaff. Chart pattern recognition IMO is a complete joke.

I lost my fascination with ET within a few days. There is a handful of knowledgeable/self-sponsored traders in here, but the ET majority is just retail traders regurgitating textbook bullshit. Then you have a few institutional guys (PM's, HF, prop) with no skin in the game who couldn't trade...

For non-HFT operations, I agree 100%. Weekly consistency is a pipe dream outside of that, retail or not.

Correct, but trade management makes or breaks a strategy. Without it, the above become useless. I personally don't use any of that stuff.

Maybe English is his second language.

Mtrader If you implement any type of mathematical measurability (simple or advanced) in your analysis, than i'd assume your using a quantitative model. I use the term "quant" loosely.

Sounds pretty solid. A realistic backtesting/execution engine is hard to integrate with multivariate analysis tools (like R for example). Keep going. I think you're on the right track.

I've posted this before a few times, but here we go again: You need an edge with a defined positive expectancy, PERIOD. No ifs, ands, and buts. Both sides of expectancy need to be measured accurately. Trade win percentage and R/R are the basis for a successful daytrader. 99% of traders have no...

Nooby Did you get anywhere near pay dirt with this venture? I was really rooting for you :)