Jack Hershey Method: Beginner Rockets

Quote from hypostomus:

Talk about revealing yourself! "European researchers"? Do I get the faint whiff of academe? Backtesting is the sine qua non of logical trading, Mr. ProfLogic. Have YOU ever in your young life EVER coded and tested? Somehow I doubt it, or you wouldn't write stupid posts like the last.
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Young? Thanks for the compliment.
Ever coded & tested? Since 83'. Ever heard of a little company called Paradyne?
I make no assumption to your intelligence or your experience because I do not know of you but your statement assessing my intelligence and background speaks volumes.
Go back a few posts and reread Steve's post about 20 times or so.
The whiff of academia was just that. Those researchers aren't academics currently, they are scientists wondering the haunts of Albert's in search of the next big thing. They are thinkers and some of the brightest minds in Europe. I found it just fascinating to spend an afternoon talking to them and listening. It was refreshing to be around open minded people for a change.
 
Quote from steve46:

What I notice not only here at ET, but in every part of life, is that people "share" whatever they have. Sometimes all that they have to share is venal crap (like these last two posts). The fact is that people reveal themselves every time they take a moment to type these posts. They cannot help it. Each poster reveals a little more of his personality each time he or she posts. Eventually, we all get the message. Sooner or later we all know each other, whether we want to admit it or not.

Some of you want to be taken care of like little children. You want it delivered to you like a take out pizza.

Those of us who have had to grow up and "get it" on our own, want you folks to get off your ass and do some of the work yourselves. After all no one helped us (or did they?).

Others seem to have the magic touch. Things just seem to come to them easy. They have "all the luck". Most people applaud those folks, but secretly they want to shoot them in the head and dump their bodies off a bridge.

Our psychic lives are instinctual. We want to tear the crap out of everything we see and the only thing that prevents us is society's laws and the condemnation of our fellow man.

By the way, I have posted my share of venal crap. No need to get insulted. If I wanted to insult you circus animals, believe me I could do a much better job of it than that. What I suggest you do is to carry on as you were.

Trapper, in the tradition of helpless fuckups everwhere, keep asking for those of us who have a winning game to share it with you, and you alone.

And good Mr. Nosense, please keep kicking everyone in the ass. I cannot do it alone.

Good luck,
Steve
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Finally! a pearl rises from the shit. Thanks Steve, you made my day.
 
Great post! And, as expected, everybody got from it that he's right, and that the others are full of crap. :) :) :)
Quote from steve46:

What I notice not only here at ET, but in every part of life, ...
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Nicely said! The narrow minded won't understand it, and attack you. They're so happy: they have no doubts!
Quote from ProfLogic:

I get a kick out of individuals that cry, "Backtesting" every chance they get. I had the pleasure of sitting with a bunch of European researchers lately and they all were unanimously of the same mindset . . . backtesting offers only limited usefulness. The results that backtesting offers is only from a statistical or probability relationship which is not a clear representation of the true results of any method. Testing in realtime is the only accurate way to to test trading systems but the vast majority of traders are too lazy to spend the time or effort to accomplish it.

I'm on Grobs side. The one person he needs to persuade that what he does is perfect for him is himself. Anyone else that sees value in what he does, and there are many, can and do their own due diligence in realtime to prove it to themselves.

The individuals that keep whining, "Show me, show me, show me", will never amount to anything as traders anyway because they have no focus or determination to do anything on there own. They continue to copy those of marginal success trying to duplicate their actions instead of venturing out on their own to blaze new areas of successful trading. Then they continue to chastise those that offer new ideas because they are incapable.

Marketsurfer's offered book, "Envy", has it's own irony considering he recommended it.
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Quote from cnms2:

Great post! And, as expected, everybody got from it that he's right, and that the others are full of crap. :) :) :)
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Actually, It is simply a comment and/or opinion from someone who is old enough to know that life is short, and that it is a little late in the day to bullshit people. Some will get that, some won't.

Good luck
Steve
 
Would someone please tell me if I should feel properly chastised? Who the fuck is ProfLogic that I should be impressed and humbled? Is he another Jack with lots of claims but no trade confirmations? Or the real deal?
 
Quote from ProfLogic:

I get a kick out of individuals that cry, "Backtesting" every chance they get. I had the pleasure of sitting with a bunch of European researchers lately and they all were unanimously of the same mindset . . . backtesting offers only limited usefulness. The results that backtesting offers is only from a statistical or probability relationship which is not a clear representation of the true results of any method. Testing in realtime is the only accurate way to to test trading systems but the vast majority of traders are too lazy to spend the time or effort to accomplish it.
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I get a kick out of those who dismiss backtesting out of ignorance and fly by the seat of their pants powered by pixie dust. Your statement that "testing in realtime is the only accurate way to test trading systems" is simply WRONG. To take what you say literally, one could test a lousy system in realtime during a bull market -- for years -- and think they've found the Holy Grail because the tests were done in realtime. Realtime testing has PLENTY of limits. All it shows is how a single variation of a system performed during a certain period -- and ONLY under the conditions that existed at the time of the test. And that assumes perfect execution according to the system, with no missed or overridden signals or other human factors. Not to mention how slow it is.

Backtesting is a tool and as such, is only as good as the practitioner. But a seasoned trader who understands nonparametric statistics can test numerous variations of a system over multiple tradables and market conditions, compare that with out of sample testing, do a little analysis, and gain more information and insight in an hour about how that system is likely (but not guaranteed) to perform in the future than he could gain from years of real time testing.
 
Quote from ProfLogic:

Young? Thanks for the compliment.
Ever coded & tested? Since 83'. Ever heard of a little company called Paradyne?
I make no assumption to your intelligence or your experience because I do not know of you but your statement assessing my intelligence and background speaks volumes.
Go back a few posts and reread Steve's post about 20 times or so.
The whiff of academia was just that. Those researchers aren't academics currently, they are scientists wondering the haunts of Albert's in search of the next big thing. They are thinkers and some of the brightest minds in Europe. I found it just fascinating to spend an afternoon talking to them and listening. It was refreshing to be around open minded people for a change.
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Money talks, bullshit walks. Let us know when those guys edge out Jim Simons and Renaissance Technologies.
 
Quote from steve46:

Actually, It is simply a comment and/or opinion from someone who is old enough to know that life is short, and that it is a little late in the day to bullshit people. Some will get that, some won't.

Good luck
Steve
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Some 73 year olds haven't learned that yet, apparently.
 
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