I have finally decided to name the market forecasting system that we are using to locate trading signals, theme trades and provide overall guidance in the markets and the name will be SHERLOCK. Why Sherlock? The character is all about being able to figure out a puzzle. He walks into a room, collects data/evidence and then structures all the information into a sequence of events leading to the eventual conclusion. The forecasting system works very much the same way in which we, the analyst, provides the essential chart work, the zones, trend lines and location of trends etc. and then the system aka Sherlock provides us with a conclusion which may be the direction of price and or a trade signal to take at a specific zone. I think the name is a perfect match.
I have made an announcement to some of the students in class last week that I am currently working on elaborating on the system in a very unique and powerful way. I have begun a special project to collect all of the data I have accumulated through the years I’ve spent journaling and I will begin incorporating this data into a database. This database will store hundreds and eventually thousands of snapshots of specific market dynamics that present themselves on the charts and the way these markets played out. There are so many data points that need to be considered when creating a database in such a manner and it is getting to be so big that my journals and mind need something a bit more sophisticated to handle them. The overall idea is that we will be able to have a specific situation in the markets and we can input the specific dynamics and data points into the database and with a click of a button, receive a listing of all the past situations with similar dynamics that were in play and what their conclusions were. From this, so many incredible insights will be gained, not to mention an incredible advantage of knowing what will, with high odds, play out in the current market we are investigating. In just 5 years, the amount of information gathered, will create a system that is more advanced in forecasting market direction, than anything else out there!
You’ve seen the incredible accuracy our analysis has displayed and this is from knowledge recalled from memory and journals, can you imagine what it’ll be with the use of a powerful database that will only grow and become more accurate with time!?