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In fact I went to a course once where the vendor was angling to manage funds in the $1M class in a private advisory capacity. I told him if I had a million fucking dollars I wouldn't be taking his course.

Makosgu. Thank you for your response. I suppose, in retrospect, that they WERE trick questions. Evidently my approach to composing trading algorithms is FAR too pedantic. The code engine I use is SO literal.

What it means is that you should ignore any advice that you have to pay for. If they are SELLING it to you, it means that it benefits THEM, not YOU. It is axiomatic in this business that the more you pay, the less you get. You want to know how the market works? Figure it out for yourself. The...

Let the dying words of Siddhatta Gautama, the Buddha, be your guide: "Be lamps unto yourselves."

El Maestro. Thanks. Makosgu wisely declines to engage. So I will continue without him (or her). The problem is that as you define a trend line system for backtesting you develop an unwieldy number of variables. (That is the joy oif Jack: he doesn't worry about it.) To wit: the trading...

Abogdan. Thank you. It is believable coming from you, whereas I am patently an idiot. I wasted quite a lot of time tweaking the simplest possible models of trend line formation. Hence my thinly disguised bitterness. I do SO want money for nothing! What I DO believe is that trendlines have value...

I refuse NOT to entertain! OK, so you won't entertain. Perhaps then we could have a dialogue on how YOU set up an intraday BT of trend line formation. Then we could understand why YOURS worked, and MINE didn't. I just love talking to people about backtesting. Little matters like time of day...

I would be properly humbled if you posted an execution report. I do, although mine are not as magnificent you claim yours to be. I stand by my contention that intraday trend line formation does not backtest with positive expectation.

A fascinating thread. Interesting that no one has posted that he coded up intraday trend line formation, backtested it, and found it to have positive expectation. There's a reason for the absence of such a post. Hahahahahaha!

Kowboy. Thanks for your post. From an intraday viewpoint that would be a difficult proposition to prove. Stocks appear to respond to oil in the AM, to be indifferent midday, and to be downright contrary in the afternoon. How one would establish a correlation in those regimes is beyond me. I...

Kiddies, just in case you don't believe that the markets are maliciously manipulated during the midday doldroms, take a gander at the attachment. Look at the time frame 10:30 to 11:00 PT. At the top right is NQ (my bitch). Underneath her, aggressively poking up, is QM. QM rose ONE DOLLAR...

Kow. OMG! I asked a silly question and got a serious answer! OK, so it works that way intraday, but fundamentally in the long term lower priced oil should mean lower inflation, an improved current account, a healthier domestic economy (as long as it is south of inflationary), and lower rates...

Would someone please 'splain to a simple country boy why rates went UP when oil went DOWN? I dropped out of ECON 101 when I got to the random walk theory. I may be a drunk, but I know that the markets aren't.

Just so you'll know SOMEBODY on ET actually TRADES (we SO rarely see execution reports), here's one for a cowardly little scalp of NQ based on QM action. I worked double shifts for ten days assuring that America stays rich, and now I am drunking it off. That little scalp paid for today's White Star.

Well, well, what have we here? A double toppy in the oil daily, AND a double toppy in the price of oil per ounce of gold. Does it mean anything? If I think so, probably not. On a personal note, I just spent nine days in a trendy bar in Tribecca, eavesdropping on the conversations of...

Illiquid. Back when I believed in backtesting, I always optimized the expectancy by optimizing the exit.

Jack's channels do that. Down to the tick. You have well-defined risk and an explicit exit target.

Hang. If you are right about Nickel, he needs to apprentice himself to Jack to learn how to trend trade. He wants rules? He'll get 'em from Jack! I would even help! What ET needs is a fresh real-time mentoring thread. Nwb doesn't start B-school for a while, he could participate. Get the old gang...

Don't everybody congratulate me at once. So what if I was right for the wrong reasons?

Jase. Point scored. Big heads need to fill themselves up with big ideas. I am not trading today or I would not be posting. I am just bullshitting. But if you want to see PRIMO bullshit, go to that arb site Banjoman gave us. Pick on them for grandiose theoretical constructions. Ask them how they...