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Chapter 11. Conclusion > Understand the Game

Understand the Game

Whether you want to trade for yourself, or place money with a trend follower, or manage money for clients, or you are an established trend follower with clients, trading for other people presents challenges both trader and client must deal with. Jerry Parker, for one, thinks trend followers could do better at explaining their skill set:

“I think another mistake we made was defining ourselves as managed futures, where we immediately limit our universe. Is our expertise in that, or is our expertise in systematic Trend Following, or model development. So maybe we trend follow with Chinese porcelain. Maybe we trend follow with gold and silver, or stock futures, or whatever the client needs. We need to look at the investment world globally and communicate our expertise of systematic trading . . . People look at systematic and computerized trading with too much skepticism. But a day will come when people will see that systematic Trend Following is one of the best ways to limit risk, and create a portfolio that has some reasonable expectation of making money . . . I think we’ve miscommunicated to our clients what our expertise really is.”[8]


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