What's your performance? Can you back his claim? No? STFU then.
Niederhoffer thinks "follow the trend" sucks
- Thread starter GloriaBrown
- Start date
What's your performance? Can you back his claim? No? STFU then.
Good teachers are not necessarily good traders and vice versa. Qualifications are completely different. I know a man who is very good in developping strategies but cannot trade at all. He is afraid from taking losses, has lots of stress, does not have the discipline to follow his own rules....
Teachers teachs and traders trade. Some traders can also teach and some teachers can also trade. There is no one on one relation between the two.
That's what my son said when he was 7 too. He also had no clue about trading.
I don't agree. Someone can define for instance a trend as "a move bigger than the atr over a certain period". In this case he will see the trend before it is completely over and will miss only a part. You don't have to know in advance when a trend will happen, it is good enough to take a part of the trend only.
My personal experience is that you have to start learning to trade with hindsight. First see in hindsight the trend and then try to find a system that can announce (that means predict) with high probability that a trend might occur.
ALL trading is based on data from past. Even fundamental analysis, like cashflow or expected profits are based on data from the past, as they use past performance to calculate expected results.
You also don't have to calculate an expected value for future. I never do, because I don't believe in it and am not capable to achieve this (i am not smart enough for that probably). I calculate the probablity of a move, big enough to make money. These moves vary between 1 and 30 points (ES) intraday.
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Nothing but more meaningless platitudes from a typical arrogant anononymous poster.
peace, surf
Very weak reply, if not a worthless reply. If a man, surrounded by a group of Math wiz and finance PhD's, can only give this kind of reply, it means they are desperate and cannot give an "academic" answer.Nothing but more meaningless platitudes from a typical arrogant anononymous poster.
peace, surf
Why did you not react on this statement from MrN: I, a little fellow built up from lowww 6 to mid 7 figures based significantly on my application of his teachings, and I'm just getting started.
Statement without any proof. Just started and already 10 folded his account? But he belongs to your group, so then statements should not be proofed and blindly accepted.
Is Mr N Viktor Niederhoffer himself? On internet you never know who is who.
It's kinda curious how these Niederhoffer threads bring on a swath of new account registrations, alt accounts and trolls to post in Niederhoffer's defense? The man blew up twice like a bloody amateur but still has his loyal troops to tell us he's a great teacher and all-around jolly good fellow! It's hilarious.
I have seen this phenomena already elsewhere. It goes like this:
- For some reason somebody becomes famous (trader, golfer, football player, nascar champion).
- This brings a lot of admirers.
- These admirers worship their idol and make him a hero. They lose all objectiveness. Heroes only have positive qualities and are the best in everything.
- Most of these admirers have a low education , or want to take personal advantage of "knowing a famous man".
- If one day the hero gets caught and appears to be a cheater everybody runs away and does not want to be connected with this man anymore.
Example:
Somebody who writes about funds and investments can create a lot of (fake) credibility by telling he knows a (or if possible many) famous trader(s). He can use this in networking to attract new business. If his hero gets attacked he should protect him, because in that way he protects his own financial interests. If the famous person goes down, the writer can lose a substantial part of his earnings too. It is all about money. The more people (famous quant's, famous PHD's) he knows and the more articles were he is mentioned in, the smaller the risk that 1 bad person can harm the writer's financial resources. Call it "capital and risk management".
So this writer should know as many famous people as possible, as many math wizards and as many PHD's as possible just to protect is own financial resources. He should be integrated as much as possible in this community to gain maximal credibility. This can result in publications in specialized magazines, that are eager to write articles about him, for the simple reason that they have to fill every month X pages to get a salary end of the month. Every party in this story has his own interests to defend.
Don't forget that the internet is an artificial world where nobody knows what is real or fake, what is true or false, and why people want to defend or attack some statements, in general not for objective reasons but just to protect their own interest.
What I posted is even confirmed by a posting from MrN: The crew of traders he has taught over his lifetime have a net worth in the multi-billons....
So his students, who had the same knowledge as Niederhoffer because he teached them, managed to make billions. But Niederhoffer blew up 2 times, had countless margin calls (not really a proof of quality for a trader) and lost in 1997 everything he had. This is the ultimate proof that knowledge is not equal to being a good trader. He was undeniable a good teacher, but a good trader?????