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Systematic Trend Following

Every truth passes through three stages before it is recognized. In the first it is ridiculed, in the second it is opposed, in the third it is regarded as self-evident.

—Arthur Schopenhauer

Tactical trend trading can be done on either a discretionary or a systematic basis, and the trader can apply these methods to stocks, bonds, commodities, and other traded liquid markets. As the title of this chapter makes clear, however, my focus is on systematic trend following, which entails gathering the best practices and rules of successful traders, incorporating them into a computer-coded trading system, and then following ...

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