Some good feedback from a new trend follower:
Sir, I recently read your book Trend Following. You have made a deep impact on my thinking. I appreciate your work and would like to thank you from the bottom of my heart. I’ve been trading for 9 years, and trend following based on statistical evidence for past 1 year. During the initial 5-6 years, I’ve been badly plagued with ideas of “scalping” strategies like gamma-scalping, ratio-writing. Only during past 1 year or so, when I programmed and saw (discovered for myself) the statistical evidence of trend following, did I consciously started working on trend following strategies. Your book helped me strongly affirm my beliefs and shall help in a lot in dealing with the noise we are bombarded with all the time.
He goes on:
You already know this, but still. For me the best thing about the book was the detailed records of real life heroes of trend following. Seeing my program produce back testing results…for 20 years is one dimension, but knowing how someone has put life into such a strategy is altogether a different dimension. Secondly, there are tons of references to how LTCM lost money and big banks went down, but your detailing of how trend followers, despite of their huge sizes won most of what LTCM lost in this zero sum game, is extremely unique and wonderful.