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I am referring to the POSITION of the CLOSE in relation to the entire day's range.

I agree, may be helpful in some markets, while not helpful in others. I am quite surprised that the results when I apply this filter to many different stocks / etf's it seems to be an extremely important indicator. This implies that if I trade a specific strategy long / short when the...

My preliminary research shows that the location of the Previous Day's Close has a great influence on which side the market should be traded the following day. Does anyone else use this type of analysis to indicate the following day's direction?

And this my friends is EXACTLY WHY LONG TERM CAPITAL MANAGEMENT FAILED. And now, its certainly time to ignore...there is certainly someone that forgot all about that little incident.

You're talking about automating reading a chart? That has NOTHING to do with automating a trading algorithm. The algorithm does not care what the chart looks like, it cares about what the DATA / PRICE is doing and while you think you can see it, the algorithm can see it faster and react...

I was not busting on you and I wasn't asking for anything...I was implying that you must create the rule and trade it, without emotion. I have plenty of algorithms that will exit or take a profit target and re-enter a position if necessary, I can get the answers from the program as I trust it...

I don't know the answer to this, but I am a skeptic. I don't think 'thinking' is necessary and my math tells me it isn't. When one thinks, he is implying a belief and that's not helpful... We inserted an algorithm into the platform that I thought was so simple, it could not possibly...

I don't know where anyone gets that idea, but if one thinks that way, it is certainly laughable. I do know that if one thinks they have the ability to determine if a method even has a chance - faster or better than a computer program, they are certainly fooling themselves. Discretionary...

UH, no they don't. The program reads the data to determine if something will work or not...no need for a chart. For example, I can determine a number for almost any stock that would tell me if it moved away from the open by this amount, it has less than a 30% chance of going back to the...

I did not say that they didn't, I said that the concepts ... such as data-mining (which is what an algorithmic traders uses to find an edge) is new to someone who is looking at a chart...in particular the member I quoted. That's the difference in a discretionary trader and a systematic...

Different definitions? Now that's amusing... PLEASE tell me that you're not talking about a chart time frame

Your OPINION is EXACTLY why you would not be a good fit for trading a system. System traders use techniques you probably haven't even heard of to find probabilities and find edges in some simple concepts. If you are still looking at a chart, I am certain this concept is new to you.

For him, It's OBVIOUSLY an ego thing...apparently he knows everything already. Not to mention, he's very opinionated...certainly can't trade a non-discretionary system with an opinion.

I used to follow a 'Guru' who did just that, until a few years ago he missed the biggest move in a stock that MET HIS METHOD and I was convinced he knew no more than I. I had developed my own method for finding his setups and I knew exactly what he would be looking at. His intra-day method...

That's the answer...but they are looking at PRICE it's the ONLY thing that matters They study price and determine probabilities of certain events occurring and many of these events have high probabilities. They place a trade and manage risk. In this game Price is the final arbiter.

You said it yourself...this is why they lose...if automated...the computer will not make these mistakes.

http://tinyurl.com/7ltdbbw Please don't ask how I did that

There are many who don't believe it's possible...does anyone have any evidence that it is not possible? My research shows it is possible, just wondering if anyone else uses statistics to place and manage trades.

There are patterns every single day...the market opens at 9:30. 90+% of the time it makes a move in one direction, then it reverses...this happens in almost all stocks, every single day. Now, depending on where the market opens certain events (prices being met) occur 80% of the time. If...

I don't see why one would want a computer to 'think' like a human. If the computer thinks it would be implying a 'belief' about what would happen. If thinking isn't necessary, but often times just gets in the way...it's not beneficial to the computer. I doubt very few discretionary traders...