In some ways, for automated systems, missing a good trade is worse than a loss. Here's what William Eckhardt had to say in Market Wizards. https://twitter.com/Buy_The_Dip_/status/1374976781443162113 …pic.twitter.com/AoLtN8JvDd
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In some ways, for automated systems, missing a good trade is worse than a loss. Here's what William Eckhardt had to say in Market Wizards. https://twitter.com/Buy_The_Dip_/status/1374976781443162113 …pic.twitter.com/AoLtN8JvDd
It depends on the strategy. For TF, it’s definitely true
Yeah this is really strategy and system-dependent. In ‘Market Wizards’ Jack is basically interviewing a bunch of trend followers who all traded during a period when trend following worked really well. Most would not have survived 2009-present day.
Keep that in mind before you think their advice applies to any other strategy/time period. The world changed!
I see, very important not to assume their advice will apply to other strategies. Serious Q: is the world less trendy now compared to when those Market Wizards were trading? Seems to me there have actually been a lot of low-vol trends (not in recent months lol, but generally)
There have definitely been fewer short to medium term trends (5-60 days) which was what a lot of the early CTAs were focusing on.
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