Live data from Hacker News

Test your stock-picking skills with instant feedback. Most common word from my users: "addicting".

inspectd.com

31–40 of 53 posts

Re: Test your stock-picking skills with instant feedback. Most common word from my users: "addicting".

#31
post #17

Earlier quoted context omitted.

That'd be right clicking to snatch the chart URL, which contains the stock symbol and date parameters. Peeking into the future would certainly help one's rate of return a bit :)

Yes, I thought of this but didn't think someone would go to the trouble to look at the stock and date, then look up the price N-days after that, then go back and trade it. Apparently I was wrong! I could solve this by dynamically creating an image w/ PHP and trimming the stock & date, but my poor shared CPU wouldn't like that...

Just store their current stock symbol & dates as session variables, and make the src of the image be a .php file which has the one liner:

http://quote-web.aol.com/..."); ?>

Then you don't have to use image processing (including actually reading the image), and they'd have to become right-click-and-copy-paste-image-src-check-in-new-tab-cheater! :-)

Re: Test your stock-picking skills with instant feedback. Most common word from my users: "addicting".

#32
My only criticism is that its hard to tell where the stock was after the time-window is grown after I click buy/sell. If i click back, then I can see, but otherwise its kinda hard. If you could put a little vertical red line over the image where I bought/sold the stock, it'd help figure out what happened. I know you're just pulling a picture from yahoo finance, but since the time-window change is always the same, the red line should always be over the same spot.

Re: Test your stock-picking skills with instant feedback. Most common word from my users: "addicting".

#33
The concept is interesting. I, however, am not a fan of technical analysis. It's been drilled into my head that technical analysis is a self-fulfilling prophecy.

If everyone looking at a chart determines that the exit price should be $20 (let's assume the stock has shown a resistance level at that price) many people would try to exit around $20. The assumption would then be that if everyone does indeed believe that $20 is a ceiling, then everyone would sell at $20 thus creating the ceiling.

I believe sound fundamental analysis is the optimal method of analysis, but even that method has been called into question over the course of the last eight months as many investors are learning that much of what is on the books is either someone's best guess or flat out fraudulent at best.

Re: Test your stock-picking skills with instant feedback. Most common word from my users: "addicting".

#34

I just launched on Saturday and have already had more than 10,000 trades "executed". Your comments are much appreciated. (Note: if you think reading stock charts is a bunch of crackpot hooey, feel free to flame.)

I do think that reading stock charts is a bunch of hooey, but I will withhold from flaming. If you could expand this site to allow people an easy web 2.0 method of back-testing alternative trading strategies (or even just portfolios), it would make me happy.

Try TradeStation.com.

Re: Test your stock-picking skills with instant feedback. Most common word from my users: "addicting".

#35
This is really cool!

The main problem right now is that since the market is long-biased and there's no concept of time in the rankings, it's easy to get to the top by always clicking "Buy". It would be cool if you could make the rankings actually reflect a confidence score of how well a user is beating the market.

I'm not very strong on the statistics, but here's a possibility: for each trade, calculate the user's excess return against the market, represented by an index fund: (user's return % - market return %), and multiply that by the number of days. Then assign a confidence score using a t-test, maybe: t = (excess return * days) / (sample variance / sqrt(number of days)), and look up the confidence level based on the t-value. Finally, rank users according to their confidence level.

Something else--since this is technical analysis, it would be cool if you could include some other indicators on the chart, e.g. RSI, more than one moving average, bollinger bands, etc. That could give you some cool metrics--you could track how well each combination of indicators improves picks, by user and in aggregate.

Re: Test your stock-picking skills with instant feedback. Most common word from my users: "addicting".

#36
post #17

Earlier quoted context omitted.

That'd be right clicking to snatch the chart URL, which contains the stock symbol and date parameters. Peeking into the future would certainly help one's rate of return a bit :)

Yes, I thought of this but didn't think someone would go to the trouble to look at the stock and date, then look up the price N-days after that, then go back and trade it. Apparently I was wrong! I could solve this by dynamically creating an image w/ PHP and trimming the stock & date, but my poor shared CPU wouldn't like that...

Why not throw a div over the image or... disable right click, make a little harder to cheat... at least.

Re: Test your stock-picking skills with instant feedback. Most common word from my users: "addicting".

#39
post #11

I just launched on Saturday and have already had more than 10,000 trades "executed". Your comments are much appreciated. (Note: if you think reading stock charts is a bunch of crackpot hooey, feel free to flame.)

Reading stock charts is a bunch of crackpot hooey. I'm nr. 2 on your site with my highly sophisticated "always buy" strategy. However, it might be an excellent tool to help technical analysts (gamblers) discover their own lack of skill. I like your execution - it is indeed addictive.

I'm no expert, but it seems to me that reading stock charts is just a particularly unsophisticated form of statistical arbitrage, and that it _might_ work provided that nobody else in the world is doing it.

Real statistical arbitrage firms, as I understand it, work by looking at the historical variation in thousands of asset prices at once, putting them into an enormous covariance matrix, and using dozens of very smart mathematicians and millions of CPU hours to figure out which assets are likely to be currently underpriced.

That's how folks like Renaissance Technologies got rich. Unfortunately, as soon as the secret got out, other folks started doing it as well, and pretty soon the mispricing of assets got smaller and smaller, so they're in an arms race to find more and more sophisticated algorithms.

So I guess the point is that if mispriced assets are that hard to find when you have a hundred PhDs and a supercomputer, you're not likely to do very well just by looking at whether a squiggly line is currently above or below its recent average. All the easy money has already been vacuumed up.

Post reply on HN