You're really bringing up Demark? He's basically the modern Gann. Lots of complex, confusing methods....zero evidence of an edge when it's been systematically tested.
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Edward O. Thorp on charting
- Thread starter truetype
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You're really bringing up Demark? He's basically the modern Gann. Lots of complex, confusing methods....zero evidence of an edge when it's been systematically tested.
LOL. LTCM probably had a slew of systematic testing (besides Nobel winners) to back up their trading approach.You're really bringing up Demark? He's basically the modern Gann. Lots of complex, confusing methods....zero evidence of an edge when it's been systematically tested.
While over the decades DeMark has been around he has had perhaps a dozen or more of the world's top traders use his stuff. Can't say whether or not they "tested" them. I'm am obviously not anywhere near top trader status but I have profitably used TD Sequential for 15+ years, all by just seeing what it does. And the results.
Genuine question. I don't mean to be snide. VN is well known for selling SP500 options. The article you link to hints at counter trend?
I misinterpreted your question as being snide. But you can always ask the people themselves, rather than on a public board.
Truth is, VN utilizes multiple tactics, he is the father of statistical arbitrage, afterall.
surg
I have profitably used TD Sequential for 15+ years, all by just seeing what it does. And the results.
And you're making billions on the beach with your laptop, at least when you're not cruising in your lambo. All thanks to Tom. Got it.
You can take hype and anecdotal evidence. I'll stick with hard data.
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LOL. LTCM probably had a slew of systematic testing (besides Nobel winners) to back up their trading approach.
While over the decades DeMark has been around he has had perhaps a dozen or more of the world's top traders use his stuff. Can't say whether or not they "tested" them. I'm am obviously not anywhere near top trader status but I have profitably used TD Sequential for 15+ years, all by just seeing what it does. And the results.
He sells an ultra expensive letter/market calling service, right?
Well Marty Schwartz had an incredible track record, and he traded using PA/technical analysis completely.
I think some of the more famous pit traders (Mark Ritchie) for example were also trading PA/techinicals and made boatloads of money. They had some unfair advantages (orderflow) back in day, but so did most others in the pits with them, so the point still holds that is possible to trade price profitably.
I read his book many years ago, so I'm a bit fuzzy on it, but I remember my main takeaways being:
1) Schwartz found some temporary edges in the markets in the early 80s that worked for quite a while...and he really milked them. Even when I read the book (late 90s), those kind of edges were no longer available, especially for a retail trader.
2) He was very vague about the specifics of his strategies. There wasn't enough information to classify it as traditional PA/TA or anything else.
3) A lot of his success came to being at the right place at the right time. Even Jim Simons admits this about himself--that luck has played some role in his success. I don't think Schwartz admitted this, but he was certainly lucky at times. His success is not something anyone could replicate now.
Is there any audited track record of Schwartz since he wrote the book (1998)? If his success was based on "timeless principles of price action," he should have continued making millions and be on a Forbes list by now.
He sells an ultra expensive letter/market calling service, right?
If he does, I wonder if Hulbert or anyone else reviews his calls? Or are they too subjective to track?
You missed this part somehow - "I'm am obviously not anywhere near top trader status ...."And you're making billions on the beach with your laptop, at least when you're not cruising in your lambo. All thanks to Tom. Got it.
You can take hype and anecdotal evidence. I'll stick with hard data.
Also that I have been using Sequential for 15+ years as in 365 days each X 15.
Close on my trading environment because although I don't own a laptop I do live near the beach here in sunny (not at the moment though) S FLA and drive an Italian a Alfa, not Lambo.
Anyway stick with the crutch of "hard data" if that is what works for you, I'll stick with trading without any need of testing because actual results show me this is what works for me.
You missed this part somehow - "I'm am obviously not anywhere near top trader status ...."
Also that I have been using Sequential for 15+ years as in 365 days each X 15.
Close on my trading environment because although I don't own a laptop I do live near the beach here in sunny (not at the moment though) S FLA and drive an Italian a Alfa, not Lambo.
Anyway stick with the crutch of "hard data" if that is what works for you, I'll stick with trading without any need of testing because actual results show me this is what works for me.
15+ years of a so-called guru method every day and your still getting mediocre results? I'd stick with an index fund instead. If there were any edge, you'd be doing much better.
As for needing a "crutch"--if I needed a real physical crutch, I'd rather have a real, factory-tested one than an imaginary one any day.
Ciao.
You continue assuming crutchman (in more ways than one), while I'll continue trading.15+ years ...
C ya