HFT and what Schizo is doing (which is in fact more HFT trading than real trading) is to me no real edge. A real edge is when you can stay in a trade for 1 hour or longer. Because then you prove you have (some) control over the market. Jumping in and out for 1 point is far more easy to do.
+1AMEN to that. This may be a completely flawed strategy, maybe, maybe not. Maybe he could add an overall binary filter and during non trending times turn the whole strategy around into a market making strategy. Whatever the outcome may be, fact is, he already put in more patience and persistence than 90%+ of people on this site. Even if the strategy entirely fails he will still have learned more than most others...