Tharp and Williams make their money vending, with a succession of books and courses that are a minor and tired variation of the same theme, over and over again. I doubt either of them trade. Therefore, I'd rather you refer to actual traders when arguing a point as it relates to actual trading. Go ahead and try to make money with outright random entries. Start a dedicated journal and let's see what happens. (Or is that what you're already doing?)
The IASG Trend Following Strategy Index covers the period March 01, 1983 to the present. The compound annual rate of return for this index is 22.85% and the maximum draw down was 34.28%. Compare that to your preferred investing strategy. Here is a link to the IASG page: http://www.iasg.com/managed-futures/cta-indexes/index/trend-following-index
While you may be correct with Tharp not trading, you are 100% wrong about Williams. He actively trades his own account not to mention trading live in his seminars and sharing profits ( if any) with the attendees. You shouldn't make statements that you know are false about others. Williams also created well known indicators and has done ground breaking research into the COT report as one example.
What was the rate of return from the market as a whole as well as max drawdown during this same period? Thanks. Surf
Since you speak so highly of him, how much of Williams's crap do you use in your own trading? Oh, and how could anyone doubt the trading activity or acumen of a man whose web site is IReallyTrade.com? I'm just waiting for him to reach the lext level: IReallyReallyTradeYesIDoNoReallyIMeanIt.com.
Larry is a good person and a personal friend. Your attacks, if they were not so sad, would be rather amusing. You are completely wrong with you conclusion. Why do you hate success so much?
Answer the question. Since you praise his contribution so much, what "stuff" of his do you use in your actual trading? It is not success that I hate. Rather, it is the "success" at the simultaneous and considerable expense of his managed money clients, during a time when time stamp "issues" were rampant, that I found utterly repugnant and morally disturbing. That is why the NFA was compelled to report as follows on the matter: âThere is no question that Mr. Williams's personal trading accounts had a material effect upon his composite trading performance. The record reflects that for the first quarter of 1987, Mr. Williams's composite performance showed a loss of $6,122,281, while at the same time Mr. Williams's personal accounts experienced a gain of $902,599. The Panel finds that the fact Mr. Williams was making significant gains while managed customer accounts were suffering considerable losses would be a material fact which a potential customer would need to know in order to make a fully reasoned decision.â As I have urged you before, and as I do so now, try to read between the lines what the NFA was trying to say given the relatively loose environment in which the markets were operating at that time. We have already had this discussion. There is nothing to add. And so, answer the question.
How has it impacted your trading? Did it affect the manner in which you choose the markets you trade or perhaps in the manner that you time entries, additions, reductions or exits? Please advise.
Please define "market as a whole". Is it the S&P 500? Is it all US equities? Is it North American equities? Is it all equities? What about bonds? What about forex? What about commodities? Trend trading usually involves many asset classes so which market would you compare a trend trading system to?