Quote from marketsurfer:
huge risk equals huge rewards--sometimes.
surf
If you have ever had a 5000+ lots open position in T Bonds or 500+ in big SP in the 90´s , you know what I am talking about.
Richard Dennis and Turtles In Chicago Tuesday
- Thread starter Trend Following
- Start date
If you have ever had a 5000+ lots open position in T Bonds or 500+ in big SP in the 90´s , you know what I am talking about.
Quote from ASusilovic:
If you have ever had a 5000+ lots open position in T Bonds or 500+ in big SP in the 90´s , you know what I am talking about.
no doubt! i traded the OEX in the early 90's, not with sick size, but sick enough( relatively ) to get this farm boy out of the sticks.....
surf
Quote from marketsurfer:
mike and i are good friends.... hostility? what on earth are you talking about? infact, i'm name checked in 'trend following'--- i don't believe the premise has any edge. nothing more, nothing less.
surf
which shows you the value of this 3-post newbie
So Dennis wasn't averse to fading the trend either? That will put a few knickers in a twist
Would it be fair to say his strategy could be summarized as "have on a huge position during the bulk of a rampaging bull or bear market"? You don't necessarily need to add, just have on a huge position and hold it for most of the move. And get out quick if the move seems not to be working.
Ironically, Niederhoffer (according to his book) pyramided gold in true balls-out Livermore fashion in the late 70s, right up to the top. When it plunged he (or IIRC his wife/gf) executed his stop and although he gave back a huge amount, he was still up massively on the move. In other words, he traded in classic trend-following pyramiding-winners fashion, the exact opposite of his later approach as a fund manager. I wonder what would have happened if he had stayed with that approach?
Trend Following
Sponsor
Quote from Cutten:
So Dennis wasn't averse to fading the trend either? That will put a few knickers in a twist
Dennis never held himself out as a consistent trend follower and at various times criticized it, but his partner Bill Eckhardt and student Turtles clearly were/are trend followers in the classic sense (i.e Millburn, Dunn, Henry, Harding, Aspect, Superfund, etc.). And of course his Turtle trend following bet made him good money. As a side note assorted Turtles said Dennis traded against their trend following positions back in the day.
Trend Following
Sponsor
Nice work on the movie, Mike. Enjoyed it !
<object width="560" height="340"><param name="movie" value="http://www.youtube.com/v/N-4Z7xKq4lU&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/N-4Z7xKq4lU&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="560" height="340"></embed></object>
http://edge.affiliateshop.com/public/AIDLink?AID=103735&BID=13213
<object width="560" height="340"><param name="movie" value="http://www.youtube.com/v/N-4Z7xKq4lU&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/N-4Z7xKq4lU&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="560" height="340"></embed></object>
http://edge.affiliateshop.com/public/AIDLink?AID=103735&BID=13213
Actually, one of the original Turtles did write such a book:
http://www.amazon.com/Way-Turtle-Methods-Ordinary-Legendary/dp/007148664X
Trend Following
Sponsor
I give Jack Schwager credit. Those very limited bios of the Turtles all those years ago -- stuck hard. This thread still shows the lack of understanding about the event and the players. If anyone wants to read the complete story, not limited accounts or bios with major details left out, my book "The Complete TurtleTrader" is the only source.