It's not contradicted if you know the theory of probability and fat tail. Trend is something so smart that can make Richard Dennis as well as something so stupid can bankrupt Lehman Bros. and Bear Sterns.
Trend following theory may be compensated by Elliot Wave. Or more accurately, it's just another detailed branch of trend following. The reason why it's so popular than hysteria and panic is because when people need a belief, they need that belief so philosophy, so humane, so robust to trust.. That's Elliot wave.
The experience of a trader would be the learning process of how to guess trend from past history, and also, how to exclude his personal emotion from the unbeatable trend going or turning. So my suggestion is: Forget "Buy low and sell high", "timing is everything". These are BS. I will tell you a more detailed nonsense investment motto:
It's all about trend, nothing less, nothing more.
没有评论:
发表评论