I have always found conferences interesting. They tend to be on a spectrum from tremendously useful where new findings are revealed and debated to self congratulatory wankfests to sideshows that display a marked disconnect between reality and fantasy. Trading conferences tend to fall into the last category and unfortunately IFTA in Tokyo was no exception. As an example part of one afternoon session was not only devoted to Elliott Wave analysis but to various interpretations of said analysis. I would suggest that if you have to interpret your methodology then you dont actually have a methodology. You a lens through which you can project your own loose collection biases and perceptions onto the market – you will always see what you want to see. Sitting in the conference it was hard for me to imagine a group of mechanical traders sitting around a table and arguing as to whether a stock has reached a new 52 week high. It either has or it hasn’t.
Trading is always a question of expectation versus reality. The expectation is that you will be doing something super exciting to which you will add great value simply by dent of your manifest genius. The reality is you will be following a set of rules like a robot that is constantly battling its inner demons.