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No need. That's hardly "rich beyond belief" when this country now has billionaires in the double digits. And except for the slavery (a HUGE exception admittedly), the Founding Fathers never intended for people to become rich at the expense of the working class. Hence the huge tariffs I...

Evidence? Hard numbers? Yeah, I didn't think so. Thos country started with HEAVY tariffs against goods made overseas. They sure as hell didn't help fucking corporate robber barons ship jobs overseas like they do today.

OK, but what about the subsequent sell signal that is clearly false? :(

Further proof that teavangelists are idiots. Herman Cain is the Anti-Christ. All he had to do was turn 666 upside down to make 999 and he has them completely bamboozled. :D

You sound like Ronald Reagan: "Isn't a scientific theory just a guess?" No. I know there's a very foolish and frankly destructive movement long afoot to treat all opinions the same but the fact is, always has been and always will be that there is a chasm the size of the Grand Canyon between...

+1

Reminds me of the old saying: Want to make a small fortune in the stock market? Start with a large one. :D

Good plan. The only thing I'd disagree with is the profit taking exit. Profit taking is for RTM trading. For trend trading, as long as price is moving in your trade direction, ride it until it turns against you.

Not really. Position sizing influences whether or not you can continue to exploit an already existing positive expectation. Consider a situation where you have a biased coin that lets you win 60% of the time. So your expectation is 0.6(+1) + 0.4(-1) = 0.2. Position sizing says to only bet...

The two can be equated through their lags. The n-bar sma and the n-bar ema have the same lag. To get the n-bar ema, you just use a smoothing factor of 2/(n+1). The advantage of the ema is that you can use nonintegral values of n, and you can't do that for the sma. Among other things, you can...

What's more fun than making money? Either directional trading works or it doesn't. I believe it works, like most other TAers. I go to a quant site and all I see is pairs trading, arbs, options, swaps, zzzzzz. Seems these guys are afraid to take a chance on a direct move.

One thing I've noticed: quants don't seem to believe in directional trading. Everything is arbitrage and hedging, or so it seems.

Bottom line: are any of these CMTs rich after wading through all that conventional TA crap? Any multi-millionaires who got there as a result of their CMT? If the answer is no, well ...

You're confused. Trend traders aren't predictors, counter-trend traders are. Ask the guys who are always trying to pick tops and bottoms; they're the crystal ball crowd.

Position sizing is worthless without a positive-expectation strategy. And trend trading ALWAYS works, at least in the aggregate. The trick is to look beyond drag-ass strategies like the turtle strategy. You have to be both quick like the hare and consistent like the tortoise to win the race...

Depends on how you define "Holy Grail", which as you can see is hardly a consensus. IMO there are two different Holy Grails: There's the fictional (unrealistic) HG aka the perfect trading system. This HG never loses (100% win rate), has zero slippage and all the other fairytale stuff that...

If the turtle strategy is so great, why isn't everybody using it and getting rich? It's fully disclosed and free, what's stopping this great strategy from being exploited everywhere? Are you using it as your strategy?

The Turtle strategy is possibly the most famous of these.

Both good points. What immediately occurred to me was that his partners didn't give him their winning strategies for whatever reason. Either they didn't trust him or they just wanted to get rid of him.

Clearly there's an effort by you and others to redefine "edge" as "necessity." Yes, discipline is a trading necessity. So is money management. For that matter, so is breathing and having a pulse. But to call the latter "edges" completely destroys the meaning of the word. From...