tag:blogger.com,1999:blog-8503296865091275205.post7350956787334364927..comments2023-09-28T09:46:46.506-05:00Comments on By Age 25: Is the "Trend" is a Lie?Matthttp://www.blogger.com/profile/15415789784418536589noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8503296865091275205.post-22728689344603386132009-07-15T18:12:24.414-05:002009-07-15T18:12:24.414-05:00"How many successful "trend" trader..."How many successful "trend" traders do you know?"<br /><br />Quite a few. Read up on Richard Dennis and William Eckhardt's "Turtle" experiment. It's featured in the book "Market Wizards." They successfully trained a bunch of average Joes who responded to a newspaper ad how to trade commodities using trend following stratagies. Many subjects in the experiment ended up starting Hedge funds of their own, quite successfully, such as Jerry Parker, Paul Rabar, Liz Cheval, and Tom Shanks, among others.<br /><br />"Market Wizards" also features interviews with Ed Seykota, Richard Dennis, and Michael Marcus, all of whom are successful "trend traders". It's a great book and worth a read if you haven't read it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8503296865091275205.post-22743904986257567812009-07-15T12:01:32.864-05:002009-07-15T12:01:32.864-05:00Thanks for the Tip SE - i'm well aware of that...Thanks for the Tip SE - i'm well aware of that little foible as i've had a similar experience at their maintenance time. However, for the timeframes i'm trading and when i'm trading it shouldn't be a problem for me.Matthttps://www.blogger.com/profile/15415789784418536589noreply@blogger.comtag:blogger.com,1999:blog-8503296865091275205.post-24126421339003134212009-07-15T00:02:28.566-05:002009-07-15T00:02:28.566-05:00If you're going with MB Trading you need to be...If you're going with MB Trading you need to be aware that during their maintenance time (which I believe is 12AM) your stops are not in effect. They claim that it only takes a short time for maintenance but I experienced times when it lasted for about 15 minutes.<br /><br />I no longer trade with MB because of an experience I had where a trade ran 26 pips below my stop during maintenance time. After trading resumed the stop still did not kick in so I had to cancel the stop and manually sell. If I hadn't been up and watching the screen at the time I don't know how much worse it would have gotten. 26 pips below your stop can do you some major damage. Beware.Silver Eaglehttps://www.blogger.com/profile/02527265807912191444noreply@blogger.comtag:blogger.com,1999:blog-8503296865091275205.post-86124109780906680292009-07-14T12:16:21.904-05:002009-07-14T12:16:21.904-05:00Haha! An interesting way of looking at it - but I ...Haha! An interesting way of looking at it - but I don't think it's altogether a lie. Maybe most novice traders just misinterpret it. For example, the statement would hold true if say price was strongly rising - and someone tried to short in those conditions. Their chances of success would be very low. Even if say a four hour or daily chart shows a strong trend seemingly going in one direction(which is hard to get into), a smaller chart like an hourly or 15 minute chart would be moving in waves offering plenty of entries and exits. This is just my opinion. Please feel free to counter me - and do put up more posts, I look forward to them. Good luck!GulzaarFXhttps://www.blogger.com/profile/13597038253723473332noreply@blogger.com