Niederhoffer thinks "follow the trend" sucks

monoid said:
Is that you on the left Dave? Nice to put a face to the name.

Apart from that, what was the point of this post? Just a random post as usual? :)
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Sorry. Wrong thread. Meant for the taleb thread. Mods, please move. Thanks. surf
 
syswizard said:
That's not the point. Countertrend trading can be very profitable.
The problem with Vic was that he was in total denial about the very risky strategy of selling options NAKED. He could have easily used credit spreads instead and capped his losses.
But noooooooo, he was too greedy and wanted to capture the big premium for a low cost (spreads cost more in commission).
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If you’re
going to speculate, you have to go for
the win. You can’t try to be a middler.
Eventually, the house will grind
you into oblivion. Of course, Las Vegas
loves it when you have these
Martingale† systems that give you small
wins with a high probability and a large
loss with a small probability, because
they know they can grind you into
oblivion.
The worst thing to do is to bet on the
favorite to show, because you have the
racetrack take plus you have the
breakage, which they’re taking.

V. 19:4 (70-80): Interview: Victor B. Niederhoffer by John Sweeney
 
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billyjoerob said:
If you’re
going to speculate, you have to go for
the win. You can’t try to be a middler.
Eventually, the house will grind
you into oblivion. Of course, Las Vegas
loves it when you have these
Martingale† systems that give you small
wins with a high probability and a large
loss with a small probability, because
they know they can grind you into
oblivion.
The worst thing to do is to bet on the
favorite to show, because you have the
racetrack take plus you have the
breakage, which they’re taking.

V. 19:4 (70-80): Interview: Victor B. Niederhoffer by John Sweeney
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Brilliant, thanks for posting! surf
 
There is really no point trying to prove anything to brother Surf, I also know folks within commercial banking and some of them share the same attitude, they consider any form of speculative trading to be gambling, main reason being they failed to establish any sort of sustainable edge, hence their strong opinions, wouldn't barge even if shown positive equity curve.
 
i am nobody said:
Well, even non TA'ers understand that you telling nonsense (like most posters here understand it). Icahn proved it. He followed the trend.

It is funny that you are very selective in your reactions, to some posting you react, but if the posting hearts to much you skip it: http://www.elitetrader.com/et/index...w-the-trend-sucks.292363/page-16#post-4140147
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You are another victim of hindsight bias and retrospective distortion. Don't you get it? Trend only exists in the past---

Im sure Icahn will find humor in your post-- i'll forward it to him.

surf
 
kut2k2 said:
He said so in the previous paragraph: because he's named in the book.

All of this is pure ego gravy for Dave Goodboy. We're dealing with a mediocrity whose sole claim to fame is who he knows

Stop feeding the troll.

Stop feeding the troll's ego.
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Kinda like a guy whose avatar is a $ sign on his chest like supermarket dollar saver man or something? Geeeez, talk about ego. :D
 
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