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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: techtrader73 who wrote (188323)	3/31/2023 8:13:26 AM
From: nicewatch	1 Recommendation Recommended By da_cheif™ Read Replies (2) \| Respond to of 207795

Little Timmy contacted me out of the blue, perhaps on a fishing expedition for his composite friend Punkie. No point in telling all here I can tell you privately and no need to embarrass or humiliate him anymore than he has already done to himself. But he told me something fascinating. Looking past the convoluted style of people he subscribes to (fade A, use B for retracements, and C for the special lines) create his special brew. He told me that he's been working on coding his own system for at least two years but it still has huge drawdowns (just in backtesting) and is unusable. I have a background in systems development and testing in many markets and use it mostly in my index futures trading and have for years. Moreover I don't subscribe to anyone for trading signals or things like that, just software I can customize for scanning. Politely mentioned to him that there are people that code that stuff professionally, and taking years indicates a failure at one or several levels. He could pay a professional coder no more than a few hundred bucks (in fact a good coder likely has an adaptable script already for whatever Timmy could throw at him/her), and Timmy could get a final denouement within hours or days of whether his idea has merit or not. Unless of course he thinks he's working on the Philosopher's Stone which is highly unlikely. There's very little new under the sun when it comes to mechanical trading systems, ime. Timmy did not take kindly to this, and got very defensive and insulting. Little Timmy is at a point in his trading/investing career, imo, where he doesn't even know enough to know that he doesn't know. And that's a risky spot to be. Oh well, it takes all types to make these markets and Timmy seems to be very much of a follower and not a leader of any type.