Tharp and Williams make their money vending, with a succession of books and courses that are a minor and tired variation of the same theme, over and over again. I doubt either of them trade. Therefore, I'd rather you refer to actual traders when arguing a point as it relates to actual trading.Quote from marketsurfer:
Van Tharp claims to have shown that random entries with good money management can be profitable. "I would rather be lucky than good "
Instead Of just believing what "winner take all" erroneously states about Williams Larry you should listen to the rest of the book. You could learn something.
Quote from Gabfly1:
Tharp and Williams make their money vending, with a succession of books and courses that are a minor and tired variation of the same theme, over and over again. I doubt either of them trade. Therefore, I'd rather you refer to actual traders when arguing a point as it relates to actual trading.
Go ahead and try to make money with outright random entries. Start a dedicated journal and let's see what happens. (Or is that what you're already doing?)
Quote from fjpenney:
The IASG Trend Following Strategy Index covers the period March 01, 1983 to the present. The compound annual rate of return for this index is 22.85% and the maximum draw down was 34.28%. Compare that to your preferred investing strategy.
Here is a link to the IASG page: http://www.iasg.com/managed-futures/cta-indexes/index/trend-following-index
Since you speak so highly of him, how much of Williams's crap do you use in your own trading?Quote from marketsurfer:
While you may be correct with Tharp not trading, you are 100% wrong about Williams. He actively trades his own account not to mention trading live in his seminars and sharing profits ( if any) with the attendees. You shouldn't make statements that you know are false about others. Williams also created well known indicators and has done ground breaking research into the COT report as one example.
Quote from Gabfly1:
Since you speak so highly of him, how much of Williams's crap do you use in your own trading?
Oh, and how could anyone doubt the trading activity or acumen of a man whose web site is IReallyTrade.com? I'm just waiting for him to reach the lext level: IReallyReallyTradeYesIDoNoReallyIMeanIt.com.
Answer the question. Since you praise his contribution so much, what "stuff" of his do you use in your actual trading?Quote from marketsurfer:
Larry is a good person and a personal friend. Your attacks, if they were not so sad, would be rather amusing. You are completely wrong with you conclusion. Why do you hate success so much?
How has it impacted your trading? Did it affect the manner in which you choose the markets you trade or perhaps in the manner that you time entries, additions, reductions or exits? Please advise.Quote from marketsurfer:
I use his COT report studies and book on the subject. It's quite insightful.
Surf
Quote from marketsurfer:
What was the rate of return from the market as a whole as well as max drawdown during this same period? Thanks. Surf