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Michael Harris – the no bulshit man

Type of trading Chances of success
Intraday with charts Zero
Intraday with model Very low
Short-term with chart Very low
Short-term with models Low
Trend-following with charts Very low
Trend-following with model Low
News/sentiment trading Zero
Rare events Low
Esoteric methods Very low

Michael Harris

I love Michael Harris’ Blog. I have absolutely no idea what his software does although no doubt he would be kind enough to give me a free trial if I asked him. What he is is a NO BULLSHIT man. He is a realist and sees most bloggers for what they really are. We should all take a leaf out of his book.

One thought on “Michael Harris – the no bulshit man

  1. His software seems to do machine learning/AI for mean-reversion and/or momentum trades. He calls it price pattern recognition I believe and it’s something like “JPM has been down 3% and 4 days in a row, what is the probability it is up or down 1% next?” He doesn’t ever give you the algorithm, you just plug in the stats of what kind of results you want and the software gives you the trading systems that can achieve those results (at least in the past). It trades often and you would usually combine many systems together in order to get decent CAGR.

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