I met with Roy's COO.AnD specifically ask how the systems are related between Roy and vic.. There is no relationship, so stop talking about stuff u don't know. Have u ever met Roy? U are just a outsider " oh really" Is that the best attack against trend following you can come up with? Go run a backtest to falsify breakouts instead of relying on Vic to tell u it doesn't work, But I guess u don't know how to do one, the only thing u know is to resort to authority, just the kind of ignorance that Vic have been railin against...
That looks like an ad hominem argument to me, which is strange coming from a professed Objectivist. You doesn't have to be a Michelin starred chef to complain if you get food poisoning. You don't have to be a great or even profitable trader to ask why Mr Niederhoffer has reportedly blown up twice whilst trading tens or hundreds of millions of other people's money, or query his net career P&L with his own and client funds. It's a legitimate question why a trader as experienced as Niederhoffer seems to have blown up not just once, but a second time with the same strategy whilst running OPM. Asking that question deserves a fair response.
Someone who loses 100% trading either doesn't understand risk, or was deliberately running that risk. Like jem said, I don't see any other possible conclusions. If there is some other potential explanation, then by all means provide it and I'm sure people will listen carefully.
sure you can. oh wait, i forgot, no one on elite ever loses. the third choice is the clients paid him to take risk for outsized returns. extremely sophisticated investors who were well aware of the risks involved--- it is indeed naive or worse to suggest otherwise. some people/firms are invested in 100's of hedge funds, and some like to shoot for outsized gains....by taking large risk..with a portion of their capital. risk is required for big gains, looks like most on ET simply don't understand this simple fact. surf ps. former friends? what on earth are you talking about....
The reason I can't make a living trading now - is that my edge faded away with the rules changes on the NYSE and the dis-integration of the NYSE market. I was making 200 to 400 percent a year on my account. so I lived off it nicely. And it got a little bigger. When my real edge faded I was not able to generate high enough returns swing trading to live off it. -- In the early days of ET traders on here knew me I am not about to drop old names now. if you are really concerened send me a pm and I will send you the names. -- regarding libel. Surf you show me the libel and I will print the retraction. I detest libel and will apologize profusely if you can point it out.
I bought both Crude Oil futures contracts and Gold Futures as well in 2002. When Oil hit $101 5 years later I took my profits. When Gold hit $1000 I took my profits on them too (going through big even numbers was my target and sell point). How could I have made these profits on those two commodities without buying and holding for so many years? Is this not trend following?
Thanks Mike. Its great that you are a part of this forum and I have wanted to ask you a few questions in regards. A janitor's job is one of discipline. He has to show up to work each day on time and perform a certain routine task that most people would consider mundane. They generally follow directions of "the boss". If you look at how some white collar offices are run, most do not have the discipline to show up on time or perform routine everyday tasks as they are told. Most white collar workers will also deviate from "the boss"s instructions and go on their own path thinking they can do it better. The janitor will do what you tell him to do without fail. Drug dealing is an occupation of discipline and intelligence. In order not to get caught in any criminal enterprise requires a certain amount of skill. In the early 80s, unemployment was so high that in any occupation there were pockets of talented people. Im wondering how the persons with more distinguished backgrounds compared to those with less distinguished backgroudns?
Turtles is a phoney baloney story based on the Richard pryor movie trading spaces. How stupid are you people? Marketing ploy