April 2004
Beginner
336 pages
8h 26m
English
Content preview from Trend Following: How Great Traders Make Millions in Up or Down Markets
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Chapter 11. Conclusion
“Trends come and go. Trend followers do too. Some stay longer than others.” | ||
| --Ed Seykota[1] | ||
In Absolute Returns, Alexander Ineichen stresses that trading is a game. There are no rules for the game except the constant of change. But, it is crucial that you avoid becoming the “game.” He outlines three types of players:
Those who know they are in the game.
Those who don’t know they are in the game.
Those who don’t know they are in the game and have become the game.[2]
Larry Hite described his conversation with a friend who couldn’t understand his absolute adherence to a mechanical trading system. His friend asked, “Larry, how can you trade the way you do? Isn’t it boring?” Larry replied, “I don’t trade for excitement; I trade ...
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