The Bible of Trend Following – The Way Professional Traders Compound Wealth and Manage the Risks
The Bible of Trend Following Foreword
I’ve been trading for investors for over 30 years. My very first fund, Tactical Commodity Fund began in mid-1981. Tactical’s present program started in 1993 as an offshoot of that very first finance but with reduced leverage and some evolutionary changes. I’Id heard a lot through the years. I’t seen a great deal of markets, a great deal of bull moves, a lot of moves. And I will tell you I wish I'd read this book 30 years ago. I'd have left more money, especially close to the beginning. Do yourself a favor. Read it. Now.
My trading-for-investors career started long after gold surfaced around 870 and a bit over a year prior to the S&P bottomed near 100. I then watched gold fall over 70 percent over 19 decades and then rally over 700 percent in the subsequent 12. I watched the stock market rally for more than 17 years with only one large, brief pullback along the way only to see 2 retracements greater than 50% in the next 10 years.
I’ve seen almost too many to recall booms and busts in the product, currency and interest rate markets. I&;#x2019;t seen things happen that everyone said never would and watched as matters didn’t even happen that everybody said were unavoidable. I’t exchanged and held positions in such markets nearly every single day since mid-1981.
Tactical was one of the first orderly, automatic finance managers. We started out on a Radio Shack TRS 80, ahead of the first Apple. Historical information that costs pennies today took weeks to type in by hand. We ran Fourier transforms and demonstrated there were in fact no repeatable hidden cycles from the markets while everyone else was still talking about them. We analyzed all the industry lore to see what was accurate and what wasn’t.
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