Edward O. Thorp on charting

MKTrader said:
I've already dealt with Schwartz here, but the price action cultists didn't reply. He clearly took advantage of temporary edges and information gaps that existed in the 80s. If he were a pure price action trader, his track record should've continued since then. Yet no one knows how he's done since his book was published in '98. He probably just retired, realizing the markets were getting too hard to beat with his methods.
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Yeah, there's always a one-off, exceptional explanation for anything that doesn't coincide with your personal model of reality. Typical cultist.
 
Frederick Foresight said:
Yeah, there's always a one-off, exceptional explanation for anything that doesn't coincide with your personal model of reality. Typical cultist.
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So you're admitting you were wrong about Schwartz and have no answer? Thanks. Next time save the verbal vomit and just say so.
 
MKTrader said:
So you're admitting you were wrong about Schwartz and have no answer? Thanks. Next time save the verbal vomit and just say so.
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Woke up under the wrong side of the bridge this morning, bro? The absence of readily accessible current information about a successful private trader in his 70s automatically makes you right? You might want to consider a colonoscopy to rule out the possibility of a brain tumor.
 
Frederick Foresight said:
Please stop with your sweeping pronouncements and offer us some clarity: what is the net result of your trading in your journal thus far?
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marketsurfer said:
Needing spoonfed is a symptom of the disease.

surf
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I am pretty sure that was a rhetorical question. We can all see plain as day your "trading" has resulted in 1 out of 8 wins and a martingale method of doubling down on losses has been shown repeatedly that it's a failed method. So why not stop while you are ahead on your single winning trade and move on. Again, I think your the one with "symptoms of a disease" when you feel you need to come into the Technical Analysis portion of the forum in order to shit on Technical Analysis. That disease is called inferiority complex because you have to belittle to make yourself feel big. You continue your hypocrisy here yet you ask other to leave your "Journal" thread. Just move on and continue your "trades" of poor money management, poor stop placement, poor trade entries, and poor penny stocks recommendations with sub 100k shares traded per day. It's all documented here for everyone to see your "skill" or lack thereof.

Eganon
 
truetype said:
Thinking about momentum led me to wonder whether past prices could somehow be used to predict future prices. To test this, I looked at charting, the art of using patterns in the graphs of stock (or commodity) prices to to forecast their future changes. I was introduced to this by Norman, a Canadian resident living in Las Cruces, while I was teaching at New Mexico State University. After months of examining his data and predictions, I was unable to find anything of value. As [wife] Vivian said at the start, "This is going to be a waste of time. Norman's been doing this for years and you can tell he's barely getting by. Just look at his worn-out shoes and shabby clothes. And you can tell from the quality of his wife's old and dated outfits that they were once better off."

-- from his new book "A Man for All Markets," page 149
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%%
I thought that was from Jack Schwager Hedge Fund [top trader] Book, a helpful read; old clothes, old car do not mean much @ all . Sam Walton liked his old pick UP; i dont care what WMT stock does-- that does not change the wisdom of Sam Walton's clunker-old pick up, or his old shotgun. Price data does not predict at all,, nor does a clunker pick up, predict. Thanks TueTrender Type
 
MKTrader said:
You're inability to comprehend information, connect the dots or realize your own logical fallacies makes you and your price action/squiggly line buddies look even worse.
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My inability to comprehend what information? That it was not the road favored or chosen by Thorp? No, I comprehended that tidbit. What I'm still trying to comprehend is the irony of someone calling others cultists while stressing the "one true path."
 
eganon69 said:
I am pretty sure that was a rhetorical question. We can all see plain as day your "trading" has resulted in 1 out of 8 wins and a martingale method of doubling down on losses has been shown repeatedly that it's a failed method. So why not stop while you are ahead on your single winning trade and move on. Again, I think your the one with "symptoms of a disease" when you feel you need to come into the Technical Analysis portion of the forum in order to shit on Technical Analysis. That disease is called inferiority complex because you have to belittle to make yourself feel big. You continue your hypocrisy here yet you ask other to leave your "Journal" thread. Just move on and continue your "trades" of poor money management, poor stop placement, poor trade entries, and poor penny stocks recommendations with sub 100k shares traded per day. It's all documented here for everyone to see your "skill" or lack thereof.

Eganon
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# SAD. Yes since 2002 my record is here for all to see. Not to mentioned being tracked by independent rating service(s) for the last few years. How about yours, sport?


Every thread eventually becomes a surf hate thread. Truth hurts those unable to change.
 
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Frederick Foresight said:
My inability to comprehend what information? That it was not the road favored or chosen by Thorp? No, I comprehended that tidbit. What I'm still trying to comprehend is the irony of someone calling others cultists while stressing the "one true path."
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You have been owned, Fred. Give it up before you embarass your countrymen further.

By the way, watch for surf on your CBC soon! Lol
 
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