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scourt2000 wrote:
>
>
> If your time has value, then don't waste it looking into FFT as an
> edge in the markets.
>
> If your goal is to make money from the stock/futures market, then
> very simple things work as long as you apply good risk/reward
> management.
>
> The more complex you make this game, the more you wind up curve
> fitting your ideas to try and match what the market is currently
> doing. Don't do that. You will either eventually lose all of your
> risk money and quit this game or quit by sheer frustration.
>
> >From a technical perspective, support and resistance never has been
> and never will be "curve fitting". It exists. It's an inherent
> part of even a RANDOM event system (as many think the markets are
> anyway). It's observable and it's better than a 50/50 edge. It's
> not momentum based so you are never LAGGING the market. It's just
> you standing in front of price (before price gets to you) with the
> knowledge that it will reverse more times than not before you get
> stopped out. That's all you need. You don't need to pay for anyone
> else's advice or buy their "proprietary indicators". That's all just
> a game to part you from your money.
>
> Here's what you need to do first:
>
> FORGET about automated strategies if you are not already a successful
> market operator. That's right. Until you have the experience and
> skill level to make money by your own hand in the markets FIRST, then
> don't ever think that you'll ever find something that works by
> throwing math at the markets. This is a game which involves your
> personal interaction with it in order to learn solid lessons in what
> to do and not do the next time around.
>
> If you're too scared to trade a live market or place orders by your
> own hand some time during the day based on end-of-day data, then you
> need to understand something very important in order to save you much
> emotional pain and financial anguish: quit. That's it. Game over.
> Trading is not for you. You'll need to either go to T-Bills / CD's
> or put your money in the hands of financial professionals who, I
> assure you, have no problems throwing your money at gawd knows what
> in order to churn out some end-of-year percentage gain or loss and
> gawd knows how much that will affect the taxes you pay based on how
> much they churned your money in the process.
>
> Inexperienced / unsuccessful traders automate unsuccessful systems.
> They have no choice in the matter really. It's what they do best.
>
> Successful / experienced traders (by their own hand FIRST) have a
> good shot at turning what they do that's proven to make money into an
> automated system.
>
> It's as simple as that. I promise you.
>
> --- In amibroker@xxxxxxxxxxxxxxx <mailto:amibroker%40yahoogroups.com>,
> renuka <pinkglassfairy@xxx> wrote:
> >
> > hi,
> >
> > can anyone tell me where i can learn abt FFT ...how to interpret it
> i mean.
> >
> > thanx
> >
> >
> > kmckiou <kmckiou@xxx> wrote: Hi!
> > Has anyone used Fourier transforms (fft) to filter price data? I
> tried
> > the example provided in the description of fft and it worked as
> > expected, but it is not being used as a filter - it is just
> plotting
> > the dominant cycle. I suspect the necessary building blocks are
> present
> > in this example, but my knowledge of Fourier transforms is pretty
> weak,
> > so, I thought I would ask if anyone had already coded a program to
> > filter price data using transforms before I started hacking about.
> >
> > Thanks!
> >
> > - Kevin
> >
> >
> >
> >
> >
> >
> > Om namah shivay
> >
> >
> > ---------------------------------
> > Explore your hobbies and interests. Click here to begin.
> >
>
>
From Larry Williams:
Can You Handle The Truth
There are as many ways to supposedly beat the market as there are market
players.
In my search for "what works" I don't think I have left many stones, if
any, unturned. To save you time, money and frustration, I'm going to
shoot straight from the hip and tell you what I have found to be true
for me.
I'm going to step on toes and do all I can to destroy market
myths...this will upset many people...so be it. These comments are based
on my experience. I am more than willing to listen to "the other side of
the story" but my search has shown the following:
W. D. GANN---This is the biggest fraud going. I knew Gann's son and
promotion manager. The wild claims about W. D. are incorrect and do no
match with what his son and F. B. Thatcher told me. I bought the Gann
$5,000 course. It is a collection of general commentaries laced with
astrology. Gann, shortly before he died, sold his advisory service to 2
or 3 different people at the same time.
FIBONNACI--Here's a technique that claims to be able to tell us where
markets will go to, or retrace to, based on a pattern of numbers. The
pattern goes like 1,2,3,5,8,13 and on and on. Each new number is the sum
of the last 2 numbers. Additionally, going back, say from 13 to 8 is a
61.8% retracement. I have shown, from actual market studies of turning
points, that these supposed resistant points of 61.8, 38.0 are
meaningless...that in fact, markets are no more apt to bottom or top at
these numbers than any other number.
ASTROLOGY---Frankly, while a skeptic and doubting Thomas, I have seen
some evidence that in some way people are affected by all this. Guys
like Arch Crawford have had too many good calls, and the Bradley Model
as well, to diss the entire subject.
Yet....this is no sure thing either.
*SUPPORT AND RESISTANCE LEVELS*----*Ah, great focus has been placed on
the fact that a market will "bounce" off former highs and lows. The
notion is that what was once support (a market low) will become
resistance if a market has fallen below and is rallying back to that
area. It will...about half the time...and no one can tell you which half!*
POINT AND FIGURE CHARTS/CANDLESTICK CHARTS---These are just different
ways of looking at price patterns. I think Point and Figure (P&F) is a
waste of time...it leaves time out of the equation. Besides, P&F charts
of stocks look the same as P&F charts of spins on a roulette wheel.
Candlestick charts are an art form. I have programmed close to 100 of
their supposed "best patterns" and have found that most of the time the
patterns are meaningless or don’t work as the vendors of this ilk claim.
*THE BOTTOM LINE---*There are few paths to easy wealth and sudden
riches....I have many friends that use the tools discussed above and do
well. How can that be? Because these people are smart, good traders and
use these as tools...there is no one mystic formula to this business.
Why? Because the market is bombarded every day with random influences. I
hope all this helps in your pursuit of what is true for you.
*Larry Williams*.
*
*
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