who is your fav trader to follow?

justrading said:
I've read both actually. Quite agree about his ego, after reading the books I was left with the feeling he should have been an academic.

I'm actually curious to understand the point about ever changing cycles. Does he mean there are cycles where chart patterns and moon phases would work? His tweets about earnings seem deluded.
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Vic is far from perfect. However, the facts speak for themselves. He has trained more extremely successful $100 million dollar plus fund managers ( who credit him with their success) than anyone else. Furthermore, he was the number one ranked fund manager on the planet for a number of YEARS. He actually downplays his accomplishments, believe it or not-- one of these that he doesn't talk about is turning a small amount of money into multi- millions in a very short period of time.

As far as I can tell, his primary issue is an out of control competitive streak. This is his downfall and his gift at the same time. He had to bet big to retain the top rankings in the hedge fund game--- rather than pull back to make a respectable return, he had to beat everyone else at returns. This demand huge bets and the risk is just as big.

I defend VN because he is my friend and I defend my friends----not to mention he was one of the two people who gave me my entre into the hedge fund business ------ learning from him is a smart move.

Here's the interview http://www.dailyspeculations.com/vic/goodboy_interview.html

surf
 
volpunter said:
His basic premise is that everything is quantifiable. So he quantified everything. He picked the observations and patterns with the highest degree of confidence after forming hypotheses and traded those. All good so far. Where he fails and miserably fails at that is to acknowledge the fact that market dynamics constantly alter probability distributions. Hence, he cannot accept that strong "convictions" of the past may be nothing but random occurrences today. He then goes ahead and bets the farm on his quantified metrics and every now and then it blew him off the boat. Again and again. And again. And again. Yet each time it was some others' fault. The Fed, mortgage borrowers, Argentina, and what have you....I missed where he coined a new term "ever changing cycles"? Wow, sounds like a direct admission of guilt to me. It basically reads like "I admit my probabilistic models of the past are all BS and now I can explain the breakdown of each of my models by "ever changing cycles". Well, Victor now only has to sit around for 12.33243 years and wait until a previous cycle according to his models is repeated, lol. :p:p:p
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Well, the first blowout was proven to be a conspiracy on the trading floor--- VN noted this, took legal action, and didn't lose the case--- otherwise, yes, the guy has trading flaws but that doesn't mean that the core of what he teaches is inaccurate, in fact, history has proven from his students that it works in a huge way.------- surf
 
marketsurfer said:
Well, the first blowout was proven to be a conspiracy on the trading floor--- VN noted this, took legal action, and didn't lose the case--- otherwise, yes, the guy has trading flaws but that doesn't mean that the core of what he teaches is inaccurate, in fact, history has proven from his students that it works in a huge way.------- surf
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Surf raises a good point. It doesn't matter if a trading coach is a good trader or not, provided what he teaches is logical and works. Tony LaRussa never played baseball, and yet he coached the Cardinals to the World Series. Edwin LeFever penned the most famous book on trading ever written, Reminisences of a Stock Operator. Most of the stuff in that book traces back to his voluminous newspaper articles, and did not come from Livermore. There is no evidence that LeFever ever took a single trade. This isn't an occupation like plumbing or carpentry, you don't get better by doing, you get better away from the keyboard while thinking and sharing ideas with other traders. I think the penchant we traders have for looking up to snakeoil salesmen who pretend to be winning traders arrises out of a hunt for a Holy Grail system or a secret of trading, when in fact anyone at all can give us the puzzle pieces we personally need to move forward.
 
LOOOOL, what did I say: "A CONSPIRACY ON THE TRADING FLOOR".

It can't get better: Dude, are you VN himself? One can't make up this shit.

marketsurfer said:
Well, the first blowout was proven to be a conspiracy on the trading floor--- VN noted this, took legal action, and didn't lose the case--- otherwise, yes, the guy has trading flaws but that doesn't mean that the core of what he teaches is inaccurate, in fact, history has proven from his students that it works in a huge way.------- surf
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Back in the 90s, I upgraded my seat(have done this few times in my life, LOL) to first class to be able to sit next to Jim Rogers for 2.5 hours and totally changed how I viewed long term trading, he didn't give me a system but gave me ideas that I never considered. Long term, I most likely be doing what most others do now if it wasn't for that chance meeting. So although Jim Rogers not day trader, he is the Only trader/investor I listen to now but often I am already in the commodities side of already, and he is often early when talking about stocks.

When it comes to day trading, my last mentor who offered more in lines of disciple but he did teach patterns his own he discovered was John Brown out of Fairfield Iowa, now he teaches Tai Chi I believe most of the time. Think he has his first nickel, uncanny how price will stop in areas he would call beforehand, wished I learned that, LOL. Used very tight stops. Hard to understand and short on patience, in his youth he was world class surfer.
 
Handle123 said:
So although Jim Rogers not day trader, he is the Only trader/investor I listen to now but often I am already in the commodities side of already, and he is often early when talking about stocks.
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I am listening to one of his books on audiobook right now actually, I like his approach a lot
 
marketsurfer said:
Vic is far from perfect. However, the facts speak for themselves. He has trained more extremely successful $100 million dollar plus fund managers ( who credit him with their success) than anyone else. Furthermore, he was the number one ranked fund manager on the planet for a number of YEARS. He actually downplays his accomplishments, believe it or not-- one of these that he doesn't talk about is turning a small amount of money into multi- millions in a very short period of time.

surf
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Don't you think it is ironic that you defend VN (even though he blew up twice), and you belittle Zanger's accomplishments (https://en.wikipedia.org/wiki/Dan_Zanger) without hesitation. Then you get upset when people fairly criticize VN. Maybe you should take a look in the mirror and be honest with yourself about whether your biases are clouding your judgement.
 
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