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This thread reminded me of a video I watched some time ago of a guy that I think was in this forum, "TRO", but got kicked out or whatever. Anyway below the link. He uses Horizontal Lines on his chart.
When you think about it, it kinda makes sense because at least I believe price is random and the only non-random thing I have found is the "continuation or link" between the current and the previous bar.
Can you help answer these questions from other members on NexusFi?
Very good webinar. Somethimes I thought I see flashes of myself projected on his slides
Enlightning thread. Another good similar resource was Evidence Based Technical Analysis.
It's still happening.
Take for example isystems.com. I know not much about them, exept they sell access to systems with very steep and nice euqity curve, and they must be successful in finding customers, since brokers (at least one - well known) parter with them for additional services towards their clients.
Now, some of us, including the brokers doing it, will believe its a valuable service.
It is also a question of how much data one looks back to detect correlation and randomness.
Correlations may be present in random data for short term periods.
Eg. coin tossing leads to 50-50 but this does not mean you cannot get 10 heads in a row.. or say a "trend".
Thats the same why a daytrader don't use levels of past years while those may still look fitting.
(daytrading is just an example here but the same applies to any similarly related timeframes)
From a daytrader point of view random lines may look just as usefull or useless than lines drawn visually on the last some days.
But the latter may spot a local correlation in the data while the others are clearly random in the context of the recent days.
It is also true that money management is the only tool which saves the profits made in periods when we have found a trend (a local correlation) from the losses when we have just unknowingly played a game with a truly random market phase.
It has not happened in this thread from what I remember but I do not know where else to ask.
I'm searching for a picture showing randomly generated charts. From my souvenirs, it was provocatively built by one of our "market wizards" but can't remember who and where it was posted.
I need it for documentation To educate friends.
Thanks for your help
pS: I did not find it in the "random markets" thread nor the "random entries" thread ....my guess is that it must be hidden in some random topic
PPS: thanks Mike was just seeking for immediate landscape (I remember it had a dozen charts paneled together) but will take the longer route. Cheers
I've noticed that Big Mike was interested about generating random data a couple years ago. There is a thread about it here in futures.io (formerly BMT) but nobody really seemed to be interested at the time. Anyway, I believe it's a very good idea …
Mike, not sure exactly how to ask this, but do you have a max percentage that you believe indicators can accurately call a set up? Like let's say it has specific perimeters for a long set up and it's correct over 75% of the time or do you not believe an edge that big doesn't exist?
was just seeking for immediate landscape (I remember it had a dozen charts paneled together) but will take the longer route. Cheers 
