If that's the case why bother with weather forecasts , even tide tables.
can price action predict market moves
- Thread starter geth03
- Start date
If that's the case why bother with weather forecasts , even tide tables.
The point in case you missed it is data based predictions have a measure of accuracy but not certainty.
i don't want to discredit anybody, i don't give a fuck who sells what.
but i give a fuck if somebody is selling dreams!
this retard Al Brooks is promoting BS.
there is no nature in "price discovery". where was price discovery on the day of the flash crash? where is price discovery when there is sudden crash taking place?
do you think that buyers and sellers determine the value of the S&P index?
the ES futures contract will move in tandem with what the underlyings do,
if certain amount of deviation from fair value is reached, arbitrage and fair value algos will kick in!!! where is the fucking price discovery?
the majority of contracts are traded by algos that do not use any technical bullshit analysis, do you think they look for intraday bullish candles? or flags or channels?
I believe you mean a measure of probability , which I agree is not even certain with tides , but it's as close as you can get in this world , it's ( admittedly in my opinion ) trillions and trillions to one that there won't be a high tide tomorrow). I was merely pointing out the stupidity of your statement.
Your quote again "Aside from Madame Zorba and her crystal ball, nothing can predict the future."
Unfortunately we can all predict the future , in the same way I predict you'll suddenly overcome your stupidity , though not all predictions come true , but we can all make them .
Yes, I should have said "with certainty" but why are you so riled up Henry? Having a bad day?
Good Morning Laissez Faire,
You asked me a good question, and I hope I respond with a good logical unbiased my own personal experience response.
I will start with Jim Simons has a quote along the lines of "Thank God Edges are hard to find". This quote alone humbles me and keeps me going.
I seem to recall you as a Brooks proponent?
I purchased the course and studied it one full time. "I" , let me repeat again, "I", am unable to find/validate edge(s) from my study of Al Brooks course, yet. The reason of for not being able to find edge could be due to my effort, not enough time invested in testing, lack of understanding, not enough backtesting/forward testing, or what ever reason.
Did you change your mind?
No, I did not change my mind on Al teaching. For $350 spent on the course, I learned alot. Now, I just need to put the methods in test mode to see if the trading ideas have edge. I decided to use my programming skills to perform some simulations or back testing practice to seek edge in the ideas learned. Then and only then can I make a final decision for "myself" if the teaching is valid for making money for "myself". If edge found, i proceed with the edge I found making money. If no edge found, I look for another trading theory idea that "may" have edge. In about 3 weeks (depending on job schedule), I shall have my answers.
In other words, each trader needs to prove Edge in what ever they believe in or whoever is selling the trade idea or trading theory.
For me, I don't give a damn if the leader of local KKK chapter in town has trade idea, only care about if that trading idea, "I" can validate, have edge.
there is a guy here around that tries to understand Al Brooks Christ for 13 years now.
maybe, one should analyze his trades, and do right the opposite.
i think that could be an edge to exploit.