Market Wizard Thoughts

I spoke with a gentleman today originally profiled in Jack Schwager’s Market Wizards book (not Ed Seykota for those guessing). He wanted to talk about risk management. He made the point that as long as you have “great risk management” your entries could be “random”. His firm, for example, makes money from random entries. For all those “technical traders” out there relying on the next great “predictive technical indicator”, his point should cause pause.