Edward O. Thorp on charting

justrading said:
You are being disingenuous because you are self-serving; you want to sell your book and promote your brand.

Why on earth do the machines matter? They do if you are trading against them. Why bother? I made over 600 pips on a long EUR.NZD and what the machines did or didn't do was irrelevant. There is a fund that runs pure machine algos in FX and has never had a losing day. So what? The fact they have never lost makes no difference to my ability to make money.

You are trying to convince the weak minded that the machines are an overwhelming force, that the market has changed. How is going up and down different today than it was 50 years ago? Is there a new definition of up and down we don't know of?

Bullshit. Machines or no machines, markets still go up and down. If you get it right, unlike some bloody moron who only knows how to short YM, you get to make money consistently.

Trying to apply hedge fund methods with a retail sized account is the height of stupidity. Just look at the article. The benefit of a retail account is those who trade short term can be all in now and close out in 5 or 10 minutes if it doesn't seem to be working. The best moves never look back. A hedge fund takes time to build a position and close it, retail isn't handicapped in that way. Inherent inflexibility isn't working. Embracing inflexibility isn't so hot either based on the YM shorts we are seeing. Slow motion train wreck, just hope the kids college funds are not being squandered.

https://www.bloomberg.com/news/arti...hut-last-year-than-any-time-since-2008-crisis
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How many shares at a time do you think the HFT machines trade? You are right, the ability to hold longer term can be an advantage for humans.
 
justrading said:
You are being disingenuous because you are self-serving; you want to sell your book and promote your brand.

Why on earth do the machines matter? ..........
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Well said. Especially about the bullshit emanating from "Palm Beach".
 
marketsurfer said:
Machines feel no fear, nor are they greedy. What is it now? 85% of all volume is from the machines? They are playing a game, they are exploiting every rule and edge. The only greed and fear is inside us and we need to change ideas to beat them.
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Very good point
 
These discussions make me realize a simple fact over and over again--- that fact is that people refuse to see the truth-- particularly when the lure of making money from home or office on the side/full time by looking at the transition of prices on charts! heck , what could be easier?

surf
 
MKTrader said:
I'm not the one making the claims here, cupcake. You and your mythical price action heroes are. The burden of proof is on you. Since you totally missed the point, I'd suggest reading this instead:
http://www.k12reader.com/subject/re...n/3rd-grade-reading-comprehension-worksheets/
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Nice parry, Larry. But it was you who made a sweeping pronouncement:
MKTrader said:
Also, of all of the self-proclaimed successful "pure price action traders," I've never seen one with a profitable, verified long-term track record.
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Show us all how much better you are.
 
marketsurfer said:
These discussions make me realize a simple fact over and over again--- that fact is that people refuse to see the truth-- particularly when the lure of making money from home or office on the side/full time by looking at the transition of prices on charts! heck , what could be easier?

surf
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Please stop with your sweeping pronouncements and offer us some clarity: what is the net result of your trading in your journal thus far?
 
marketsurfer said:
These discussions make me realize a simple fact over and over again--- that fact is that people refuse to see the truth-- particularly when the lure of making money from home or office on the side/full time by looking at the transition of prices on charts! heck , what could be easier?

surf
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On the contrary Surf, people can plainly see that you are an ignorant, self-promoting doofus.
 
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