Niederhoffer thinks "follow the trend" sucks

[i am nobody]

he has taught more 7,8,9,10 figure traders than just about anyone.

That's correct!

Obsessing about a few mistakes or statements made nearly 20 years ago is not helpful.

A few mistakes? If you have to take a mortgage on your house after more than 10 years of trading, because you have no money anymore, then it is not a "mistake". That's a huge basic problem, especially if you wipe out TWO times.

 

[qxr1011]

He said that many times in his second book. Do you guys agree and why?

agree

on its own it sucks

 

[qxr1011]

A few mistakes? If you have to take a mortgage on your house after more than 10 years of trading, because you have no money anymore, then it is not a "mistake". That's a huge basic problem, especially if you wipe out TWO times.

yes it is a huge problem

but not all the soldiers who were killed (and it is a huge problem isn't it?) were bad soldiers... and not all those who survived were the good ones (or at least better than those who did not survived).

shit happens...

 

[MrN]

Life goes on - the only other choice to moving forward is suicide. Consequently, I don't see a point in dwelling on the past. As qxr1011 just said, shit happens, u don't stand in it and keep smelling it, u wipe it off and keep walking.

 

[Frederick Foresight]

agree

on its own it sucks

Of course it "sucks" on its own. Everything does. You can't trade solely on the basis of a general principle. You need strategy and tactics. So I'm not quite sure what point you're making.

 

[Frederick Foresight]

You really don't like answering my questions, do you, MrN? Was I not specific enough?

 

[debitspread]

You really don't like answering my questions, do you, MrN? Was I not specific enough?

AFAIK no one is obliged to answer questions from anonymous trolls on a chatboard...

 

[qxr1011]

Of course it "sucks" on its own. Everything does. You can't trade solely on the basis of a general principle. You need strategy and tactics. So I'm not quite sure what point you're making.

imho as a solely "general principle" for working method it is not enough

one need to combine it with other "general principles"

 

[Frederick Foresight]

AFAIK...

That's always the weak link for you, isn't it?

 

[i am nobody]

Life goes on - the only other choice to moving forward is suicide. Consequently, I don't see a point in dwelling on the past. As qxr1011 just said, shit happens, u don't stand in it and keep smelling it, u wipe it off and keep walking.

I agree, but maybe he should have dwelled a bit in the past. You should learn from mistakes in the past. So "the only other choice to moving forward is suicide" is not correct. And clearly he didn't learn because shortly after the first crash he crashed again.