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TSGannGalt
Registered: Jun 2004
Posts: 1980 |
12-11-09 12:14 AM
Quote from Trend Following:
Those (2) depositions posted in this thread are some of the best educational insights any prospective investor could ever possibly read. They show quite clearly how a con can unfold. End of story? Doubtful. Anyone mixed up in the nonsense outlined in those government documents will most likely continue down a wrong path.
Mike...
What's the title of this thread? If you want to... you can start another thread about cons in the OPM industry. If you want to stick to your depositions... then start one about that specifically.
Let's try to stick to the topic... It seems like people are more interested in reading about trading trend-following than the government papers (I was suggested to put you on ignore... but I won't).
PS. I'm not Curtis Faith or any of the Turtles. Why would I buy from Mike and Russell?
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Trend Following
ET Sponsor
Registered: Aug 2004
Posts: 1022 |
12-11-09 12:52 AM
Quote from TSGannGalt:
What's the title of this thread?
Those documents are but one example of "people" as the real issue, not debates about "changing markets." People make decisions. Some make consistently good decisions, some bad. Think about this: Acceleration Capital will at some point in the future be a data point for some noted Ivy League academic. Faith's firm will be held out as one of the "unlucky" ones who did not make it. Acceleration Capital will be used (along with other misguided miscreants) as a basis to argue that trend following doesn't really work once you control for survivorship bias.
As far as "changing markets"... Good systems respond to changing market conditions. If one is constantly tweaking a system to supposedly meet changing market conditions...that is not much of a system.
Also, I can't help but chuckle at this busy body like tendency of yours to supposedly put the thread back on track... especially after rants about discretion and Amaranth.
__________________
Trend Following Trading
Covel Books: Trend Commandments, The Little Book of Trading, The Complete TurtleTrader & Trend Following
Trend Following Documentary Film: Broke: The New American Dream | Covel Podcast Episodes
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Rimping
Registered: Sep 2008
Posts: 99 |
12-11-09 03:33 AM
Quote from Trend Following:
You promote a man whose firm was ripping off clients only to finally see that firm be barred by the CFTC...and you hold yourself out as a noble protector of newbies? Interesting stance.
Garner just promotes good books and products as far as I understand.
"The Turtle Way" is an outstanding book.
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TSGannGalt
Registered: Jun 2004
Posts: 1980 |
12-11-09 07:16 AM
Quote from Trend Following:
Those documents are but one example of "people" as the real issue, not debates about "changing markets." People make decisions. Some make consistently good decisions, some bad. Think about this: Acceleration Capital will at some point in the future be a data point for some noted Ivy League academic. Faith's firm will be held out as one of the "unlucky" ones who did not make it. Acceleration Capital will be used (along with other misguided miscreants) as a basis to argue that trend following doesn't really work once you control for survivorship bias.
As far as "changing markets"... Good systems respond to changing market conditions. If one is constantly tweaking a system to supposedly meet changing market conditions...that is not much of a system.
Also, I can't help but chuckle at this busy body like tendency of yours to supposedly put the thread back on track... especially after rants about discretion and Amaranth.
OK. Now that you mention about systems...
Which of the following would be considered a "tweak"?
1. Optimization and implementation of a parameter. For this sake, let's say it's like referenced bar for a Breakout like x in calculating HighestHigh(x).
2. Taking the mean bars of the last 30 swings and applying it on the HighestHigh(x).
3. Crabel like filtering. ORBs filtering signals based Macro chart conditions.
4. Tweaking the models using Greeks... "calibrating" based on the underlying.
5. Windowed Parameter.
6. Out-sample averaging.
... I ask this because the term tweak can mean alot of things. All of the above can be considered a tweak. So before I start some discussion, it would help if you can tell me what your basis / definition of a tweak is.
How about we start there?
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TSGannGalt
Registered: Jun 2004
Posts: 1980 |
12-11-09 07:31 AM
Mike, another question... related to tweaks...
What's your stance on Mechanical and Automated Trading System? Should all good systems, in your definition, be able to be automated or not?
For a system to be automated, the datas need to be quantified in some way for the computer apply. It can start from a simple OHLC, Bid/Ask to ranking the significance of the news using semantical analysis. So... if you stand on the automation side, what's your take on Quant. Funds, that are not trend following in nature?
What I'm really asking is.... what do you consider a good system and why?
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