Just thought i would add a post of mine from another forum:

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Anyway, according to random walk theory and the efficient market hypothesis day to day price movements are random. Therefore making all technical indicators useless as past prices have zero effect over the probablilities of future price movements. Then tech/a people counter that by saying the markets cant be random because they trend and yes, the trend is your friend. Then that gets countered by a demonstration of a random data model with stochastic distrubution, fat tails and other statistical jargon showing clear trends in the random data.

Then in comes mandelbroit with his fractal theories ect but they are in such beginning stages to be un usable for day to day practical purposes.

Now, i figured that the best way to settle this would be to back test each indicator over years and years worth of historical data across many different markets to see if the indicators do have any predictability elements. I then found this book:

http://www.amazon.com/gp/product/customer-reviews/0470008741/sr=1-10/qid=1177056540/ref=cm_cr_dp_2_1/104-7048091-1143941?ie=UTF8&customer-reviews.sort%5Fby=-SubmissionDate&n=283155 &qid=1177056540&sr=1-10

Which did all the statistical work for me and it is shown that 6400 technical indicators turned out to be useless.

So how do people make money with tech/a? The answer is that millions of people use tech/a with proper money management. Out of that many people doing it there are bound to be a small percentage of winners from luck and a large amount of losers which would make sense of the often quoted statistic that 90% of traders lose money.

So is it fair to conclude that successful chartists are just luckier than their fellow losing chartists?

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My question to you guys is, do you trade yoursleves? Or did you figure the software business is more profitable?

The sole purpose of FSB is to give you an easier way to find your truth!

Dear friend,
I have an idea about a trading system.
It is a very simple one. You need to measure only two parameters of the market - the direction (speed) and its inertness.

The rules are easy.
   Buy/sell when the price rises/falls with speed and inertia greater than certain minimal levels.
   Close when either the speed or the inertia drops.

That is all. You have the main idea now. So, try this technical system and find the answer of your question!

Opss!
Please, be a real friend and tell us does it work or not?

Yes, I trade.
And to answer to your further questions.
Yes, I use technical analysis.
I neither lose too much to reject the T/A nor earn enough to confirm it.

I'm not the one, ho will tell you to use the T/A or not. You are free to decide alone!

You might become convinced as to the efficacy of using a system and tips from Phenomenal Successful World Class Expert Traders here who have proven their abilities in competition with each other. >>>

http://www.worldcupadvisor.com/

Ola!
What is that magic strategy viswadatta!
Can you post it?

I've posted some too, and I even check to see if a walk-forward region is still havig the equity crawl upwards with similar small DD, think I've posted 2 or 3 I found so far.  I'm in habit of rejecting FSB results that don't walk forward for a reasonable period of time compared to amount of data in our FSB, it's simple really, market > horizon > chop-off data, generate, un-chop to see overall equity curve (i.e., equity not falling down at end or with big DD?), save if good both in training area and validated walk-forward.  Think I have 4 saved so far.  However, we do need Popov to have a validation region feedback option during generation with selection of DD we desire.  Even before that we need simple to do itemsthat are check-box suppress of a few bummer strategies from coming "to the top", like bad DDs, multiple lots, and orders during bars types, this will avoid all the all-too-often recurring encounters of the strange strategies that are mostly un-doable.  Please write Popov of these needs, very important.

jerry