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Episode 1309: Think Clearly is gold. Thank you, a timely reminder in our crazy world.
Your protagonist reminds me of a pleasant man I know who styles himself as a day trader, trading on what he believes are predictive technical signals.
I showed him your large Trend Following book 5th edition. He claims he read it, says he “loved it”. I was happy and thought that he would apply more scientific rigor to his various day trading methods. And hopefully abandon them and the idea of predictive technical analysis. I was naive.
He is still looking for the magic set of signals; he still regularly pays thousands of dollars to attend seminars offered by “successful” day traders. I don’t believe he understood your book at all.
Whenever I ask him what data these trading gurus offer to back their claims his responses are vague. It’s as if he’s a lost soul looking for a religion where the prophets and messiah are there to substantiate the views and beliefs he already holds.
Horses and water come to mind.
There maybe many ways of finding truth, but in regard to trading, reliable data seems a pretty good starting point. That’s assuming that the person searching for truth is looking for it (because he believes it exists), and has a method of discovering it, and is rigorously attempting to destroy his initial hypotheses in the hot cauldron of data and testing.
Thanks again. I really appreciate your work, your podcast, and I found this one especially timely in our current age of flim flam, wishful thinking and outright intellectual sculduggery.
N. M.
Thanks for the nice note!
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