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	<title>Comments on: Stats&#8230; and Bill Eckhardt</title>
	<atom:link href="http://www.automated-trading-system.com/stats-and-bill-eckhardt/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.automated-trading-system.com/stats-and-bill-eckhardt/</link>
	<description>Systematic Trading research and development, with a flavour of Trend Following</description>
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		<title>By: brmr</title>
		<link>http://www.automated-trading-system.com/stats-and-bill-eckhardt/comment-page-1/#comment-1051</link>
		<dc:creator>brmr</dc:creator>
		<pubDate>Tue, 15 Mar 2011 02:34:32 +0000</pubDate>
		<guid isPermaLink="false">http://www.automated-trading-system.com/?p=1356#comment-1051</guid>
		<description>Jez,

Bill Eckhardt is almost close to completion of his Phd when he left and joined Richard Dennis according to his interview in Futures Mag (2/28/20011).
&quot;As I recall more than half the course revolved around developing the right attitude, guarding against debilitating emotions, how to think about risk, and how to handle success and failure. Teaching the turtle system itself doesn’t take very long&quot;

&quot; We spent a lot of time talking about our theories on how to control risk; that was actually the bulk of the course. Attitude, emotional control, discipline; those things are harder to teach. All the turtles learned the system and learned the strategy; that was the easy part, but some of them brought the right attitude and right mental set to it and they prospered and became very rich&quot;

His order of importance as stated was Psychology (attitude),risk control (money management) and methods. Quite similar to what Seykota and Tom Basso suggested in their interviews</description>
		<content:encoded><![CDATA[<p>Jez,</p>
<p>Bill Eckhardt is almost close to completion of his Phd when he left and joined Richard Dennis according to his interview in Futures Mag (2/28/20011).<br />
&#8220;As I recall more than half the course revolved around developing the right attitude, guarding against debilitating emotions, how to think about risk, and how to handle success and failure. Teaching the turtle system itself doesn’t take very long&#8221;</p>
<p>&#8221; We spent a lot of time talking about our theories on how to control risk; that was actually the bulk of the course. Attitude, emotional control, discipline; those things are harder to teach. All the turtles learned the system and learned the strategy; that was the easy part, but some of them brought the right attitude and right mental set to it and they prospered and became very rich&#8221;</p>
<p>His order of importance as stated was Psychology (attitude),risk control (money management) and methods. Quite similar to what Seykota and Tom Basso suggested in their interviews</p>
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		<title>By: Jez</title>
		<link>http://www.automated-trading-system.com/stats-and-bill-eckhardt/comment-page-1/#comment-239</link>
		<dc:creator>Jez</dc:creator>
		<pubDate>Wed, 17 Feb 2010 10:12:13 +0000</pubDate>
		<guid isPermaLink="false">http://www.automated-trading-system.com/?p=1356#comment-239</guid>
		<description>Thanks &quot;Correction&quot;... ;-)

I updated the post - although I tend to take wikipedia info with a pinch of salt (I recently found out by way of experiment that you dont even need a login to it to change the pages!)
I guess the fact that he does not mention PhD on &lt;a href=&quot;http://eckhardttrading.com.p11.hostingprod.com/&quot; rel=&quot;nofollow&quot;&gt;his fund website&lt;/a&gt;  is a good enough double-check confirmation...

In any case, thanks for taking the time to point to that factual mistake - and I would tend to agree with you on the fact that NOT getting a PhD is probably a favourable factor to trading success ;-)</description>
		<content:encoded><![CDATA[<p>Thanks &#8220;Correction&#8221;&#8230; ;-)</p>
<p>I updated the post &#8211; although I tend to take wikipedia info with a pinch of salt (I recently found out by way of experiment that you dont even need a login to it to change the pages!)<br />
I guess the fact that he does not mention PhD on <a href="http://eckhardttrading.com.p11.hostingprod.com/" rel="nofollow">his fund website</a>  is a good enough double-check confirmation&#8230;</p>
<p>In any case, thanks for taking the time to point to that factual mistake &#8211; and I would tend to agree with you on the fact that NOT getting a PhD is probably a favourable factor to trading success ;-)</p>
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	<item>
		<title>By: Correction</title>
		<link>http://www.automated-trading-system.com/stats-and-bill-eckhardt/comment-page-1/#comment-238</link>
		<dc:creator>Correction</dc:creator>
		<pubDate>Wed, 17 Feb 2010 07:38:19 +0000</pubDate>
		<guid isPermaLink="false">http://www.automated-trading-system.com/?p=1356#comment-238</guid>
		<description>William Eckhardt does not have a PhD in Mathematics.
http://en.wikipedia.org/wiki/William_Eckhardt_(trader)

Maybe that is exacty why he is such a successful trader!</description>
		<content:encoded><![CDATA[<p>William Eckhardt does not have a PhD in Mathematics.<br />
<a href="http://en.wikipedia.org/wiki/William_Eckhardt_(trader)" rel="nofollow">http://en.wikipedia.org/wiki/William_Eckhardt_(trader)</a></p>
<p>Maybe that is exacty why he is such a successful trader!</p>
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	<item>
		<title>By: Jez</title>
		<link>http://www.automated-trading-system.com/stats-and-bill-eckhardt/comment-page-1/#comment-237</link>
		<dc:creator>Jez</dc:creator>
		<pubDate>Thu, 11 Feb 2010 09:24:57 +0000</pubDate>
		<guid isPermaLink="false">http://www.automated-trading-system.com/?p=1356#comment-237</guid>
		<description>Thanks for the recommendation RiskCog! I&#039;ll check them out</description>
		<content:encoded><![CDATA[<p>Thanks for the recommendation RiskCog! I&#8217;ll check them out</p>
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		<title>By: RiskCog</title>
		<link>http://www.automated-trading-system.com/stats-and-bill-eckhardt/comment-page-1/#comment-236</link>
		<dc:creator>RiskCog</dc:creator>
		<pubDate>Wed, 10 Feb 2010 06:05:16 +0000</pubDate>
		<guid isPermaLink="false">http://www.automated-trading-system.com/?p=1356#comment-236</guid>
		<description>A good book for some practical statistical theory such as robust estimators and interpolation is Numerical Recipes. Old books are available online: http://www.nr.com/oldverswitcher.html

See chapters 3, 5, 14, and 15

Also, a body of theory that is rich with applications for speculators is Robust Non-Linear Control Theory.</description>
		<content:encoded><![CDATA[<p>A good book for some practical statistical theory such as robust estimators and interpolation is Numerical Recipes. Old books are available online: <a href="http://www.nr.com/oldverswitcher.html" rel="nofollow">http://www.nr.com/oldverswitcher.html</a></p>
<p>See chapters 3, 5, 14, and 15</p>
<p>Also, a body of theory that is rich with applications for speculators is Robust Non-Linear Control Theory.</p>
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		<title>By: Milktrader</title>
		<link>http://www.automated-trading-system.com/stats-and-bill-eckhardt/comment-page-1/#comment-235</link>
		<dc:creator>Milktrader</dc:creator>
		<pubDate>Mon, 08 Feb 2010 13:02:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.automated-trading-system.com/?p=1356#comment-235</guid>
		<description>He has hit it on the head. Markets do not conform to Gaussian distributions because they lack stationarity. They are also not iid (independent and identically distributed). Treating them as such only leads to trouble. I&#039;m also impressed with the reference to Mandlebrot, who is the father of chaos theory.

Another area that may be worth pursuing is machine learning, which is the other side of the statistics coin. Inferential statistics and neural network predictions both attempt the same thing, but use different terms and techniques to arrive at their answers.</description>
		<content:encoded><![CDATA[<p>He has hit it on the head. Markets do not conform to Gaussian distributions because they lack stationarity. They are also not iid (independent and identically distributed). Treating them as such only leads to trouble. I&#8217;m also impressed with the reference to Mandlebrot, who is the father of chaos theory.</p>
<p>Another area that may be worth pursuing is machine learning, which is the other side of the statistics coin. Inferential statistics and neural network predictions both attempt the same thing, but use different terms and techniques to arrive at their answers.</p>
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