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userque's Account talk
- Thread starter userque
- Start date
userque
Well-known member
Don't get me wrong, I believe proper T/A, properly used can work. But, here is an interesting/funny article. Author seems a bit upset:
Why Technical Analysis is 100% Bullshit
Why Technical Analysis is 100% Bullshit - F.S. Comeau
Here's a relatively small excert.
" ... Unless you’ve worked at a proprietary firm, you have NO IDEA of what you’re going against!
A single proprietary trading firm can have enough computers to fill your house ten times and then some. Each of these computers can easily be $50,000 or more. These firms have zero problem hiring the best programmers in the world for $500 per hour or more to program some of the most complicated programs that ever existed. I’m telling you that people trading at proprietary firms are at least as smart as NASA engineers and sometimes smarter. Except for a tiny number of individuals devoted to making this world a truly better place, in this world, money is a much more powerful motivator than the pursuit of scientific progress. Don’t believe me? A NASA engineer earns something like $100,000 per year. A good trader can EASILY earn $100,000 per DAY. EASILY.
In my career, I saw a data center used for trading that was so large I couldn’t see the back wall. “We haven’t even used most of the computers you see here,” said the guy to me. The firm had been operating been for more than ten years. That gives you an idea of how just well-equipped and well-capitalized these guys is.
These guys have no problem investing millions to cut their ping from 2s to 1.99s. They have no problems paying an additional $10,000,000 per month rent just to have a office that is half a mile closing to Wall Street just so their orders will pass through a milli-second faster. These people have no problems offering a $500,000 signing bonus to grab the best financial engineering grads and then offering millions of dollars in bonuses every year, even if the trader doesn’t perform all that well.
These people can test BILLIONS of possible technical analysis indicators and combinations on about every single product that exists a million times by the time you notice your little “A heads and shoulder pattern is forming!” These people can send a million trade by the time your finger hits the “buy” button. These people can backtest millions of strategies in real time by the time you blink your eyes. And despite all that, the vast majority of these funds do not beat the market on a risk-adjusted basis over an extended period of time.
Do you really think your stupid moving average crap can compete with them? ..."
More: Why Technical Analysis is 100% Bullshit - F.S. Comeau
Why Technical Analysis is 100% Bullshit
Why Technical Analysis is 100% Bullshit - F.S. Comeau
Here's a relatively small excert.
" ... Unless you’ve worked at a proprietary firm, you have NO IDEA of what you’re going against!
A single proprietary trading firm can have enough computers to fill your house ten times and then some. Each of these computers can easily be $50,000 or more. These firms have zero problem hiring the best programmers in the world for $500 per hour or more to program some of the most complicated programs that ever existed. I’m telling you that people trading at proprietary firms are at least as smart as NASA engineers and sometimes smarter. Except for a tiny number of individuals devoted to making this world a truly better place, in this world, money is a much more powerful motivator than the pursuit of scientific progress. Don’t believe me? A NASA engineer earns something like $100,000 per year. A good trader can EASILY earn $100,000 per DAY. EASILY.
In my career, I saw a data center used for trading that was so large I couldn’t see the back wall. “We haven’t even used most of the computers you see here,” said the guy to me. The firm had been operating been for more than ten years. That gives you an idea of how just well-equipped and well-capitalized these guys is.
These guys have no problem investing millions to cut their ping from 2s to 1.99s. They have no problems paying an additional $10,000,000 per month rent just to have a office that is half a mile closing to Wall Street just so their orders will pass through a milli-second faster. These people have no problems offering a $500,000 signing bonus to grab the best financial engineering grads and then offering millions of dollars in bonuses every year, even if the trader doesn’t perform all that well.
These people can test BILLIONS of possible technical analysis indicators and combinations on about every single product that exists a million times by the time you notice your little “A heads and shoulder pattern is forming!” These people can send a million trade by the time your finger hits the “buy” button. These people can backtest millions of strategies in real time by the time you blink your eyes. And despite all that, the vast majority of these funds do not beat the market on a risk-adjusted basis over an extended period of time.
Do you really think your stupid moving average crap can compete with them? ..."
More: Why Technical Analysis is 100% Bullshit - F.S. Comeau
userque
Well-known member
userque
Well-known member
Budget Crisis in Illinois Spurs Trading Tax Plan That CME Hates
Budget Crisis in Illinois Spurs Trading Tax Plan That CME Hates - Bloomberg
"... Illinois isn’t alone in wanting to tax traders. European lawmakers have discussed the idea, as have both Democratic candidates for U.S. president. Hillary Clinton’s proposal isn’t a levy on all trades, but penalizes traders who repeatedly submit and then retract their orders. Bernie Sanders wants a financial transaction tax akin to what’s being discussed in Illinois. ..."
Budget Crisis in Illinois Spurs Trading Tax Plan That CME Hates - Bloomberg
"... Illinois isn’t alone in wanting to tax traders. European lawmakers have discussed the idea, as have both Democratic candidates for U.S. president. Hillary Clinton’s proposal isn’t a levy on all trades, but penalizes traders who repeatedly submit and then retract their orders. Bernie Sanders wants a financial transaction tax akin to what’s being discussed in Illinois. ..."
userque
Well-known member
In Two Moves, AlphaGo and Lee Sedol Redefined the Future
In Two Moves, AlphaGo and Lee Sedol Redefined the Future | WIRED
"... So AlphaGo learns from human moves, and then it learns from moves made when it plays itself. It understands how humans play, but it can also look beyond how humans play to an entirely different level of the game. This is what happened with Move 37. As Silver told me, AlphaGo had calculated that there was a one-in-ten-thousand chance that a human would make that move. But when it drew on all the knowledge it had accumulated by playing itself so many times—and looked ahead in the future of the game—it decided to make the move anyway. And the move was genius. ..."
In Two Moves, AlphaGo and Lee Sedol Redefined the Future | WIRED
"... So AlphaGo learns from human moves, and then it learns from moves made when it plays itself. It understands how humans play, but it can also look beyond how humans play to an entirely different level of the game. This is what happened with Move 37. As Silver told me, AlphaGo had calculated that there was a one-in-ten-thousand chance that a human would make that move. But when it drew on all the knowledge it had accumulated by playing itself so many times—and looked ahead in the future of the game—it decided to make the move anyway. And the move was genius. ..."
userque
Well-known member
A very good story I just came across...and had to finish reading:
My Friend Has An Ice Cube That Never Really Melts, So We Did Something With It
My Friend Has An Ice Cube That Never Really Melts, So We Did Something With It | Thought Catalog
"My friend Hassan is a really cool guy, but there’s always been something a little weird about him, not in a bad way, just kind of off. I’m sounding like a jerk now, because really, I guess there’s something a little weird about everybody. I know I get more than a little weird, like about sharing food, or trying to make everything into a race.
But Hassan, I guess if I had to try to define what makes him a little weird, and again, it really is just a little bit weird, like I still love hanging out with him and everything, but yeah, I’d say that he’s a little defensive. Maybe not defensive, but secretive. Not secretive exactly, not about everything, but just a little secretive, like he’s got a little secret, and he’s constantly on the defense that somebody might find it out.
And that’s exactly what it turned out to be, a little secret, and I found it out. ..."
My Friend Has An Ice Cube That Never Really Melts, So We Did Something With It
My Friend Has An Ice Cube That Never Really Melts, So We Did Something With It | Thought Catalog
"My friend Hassan is a really cool guy, but there’s always been something a little weird about him, not in a bad way, just kind of off. I’m sounding like a jerk now, because really, I guess there’s something a little weird about everybody. I know I get more than a little weird, like about sharing food, or trying to make everything into a race.
But Hassan, I guess if I had to try to define what makes him a little weird, and again, it really is just a little bit weird, like I still love hanging out with him and everything, but yeah, I’d say that he’s a little defensive. Maybe not defensive, but secretive. Not secretive exactly, not about everything, but just a little secretive, like he’s got a little secret, and he’s constantly on the defense that somebody might find it out.
And that’s exactly what it turned out to be, a little secret, and I found it out. ..."
userque
Well-known member
FogSailing
Well-known member
Hey Q. Are you a member?
FS
FS
userque
Well-known member
Hey FS,
Just read your post in your thread...
...sounds like you're having a great trip!No, I'm not a member yet. I'll be working on the next generation of my algo for a while. Current algo can't handle the amount of data they throw at you.
FogSailing
Well-known member
Hi Q: Morning check of the Forum. Getting ready to head back tomorrow. Decided to give the highways one more day to thin out. We are having a super little vacation. Toughest part has been some of the weather. Nashville has been a bit rainy but I did get to try Angels Envy Single Barrel and Bulleit Bourbon. Now I'm totally conflicted. I thought the Makers 46 was going to be the one but I think I've decided there is a holy trifecta 
Of course, great music and sights in Nashville. And lots of nice people.
Later,
FS
Of course, great music and sights in Nashville. And lots of nice people.
Later,
FS
userque
Well-known member
Hi Q: Morning check of the Forum. Getting ready to head back tomorrow. Decided to give the highways one more day to thin out. We are having a super little vacation. Toughest part has been some of the weather. Nashville has been a bit rainy but I did get to try Angels Envy Single Barrel and Bulleit Bourbon. Now I'm totally conflicted. I thought the Makers 46 was going to be the one but I think I've decided there is a holy trifecta
Of course, great music and sights in Nashville. And lots of nice people.
Later,
FS
That's a good conflict to have
Hope you guys get some rest tonight and have a safe trip back!
userque
Well-known member
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