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TIMES OF ADVERSITY CAN ALSO BE TIMES OF OPPORTUNITY The typical reaction of new investors not familiar with the year-in, year-out monthly fluctuations that can test one’s patience throughout a good part of the year is to expect a positive return every month, and to lose patience after several consecutive negative months. Yet the mastery of such impatience is a key ingredient to long-term success in system trading. Typically, sensitive and short-term-oriented clients abandon one manager after another and end up losing with all of them, because each of them will sooner or later experience several months of negative performance - at best – or a one month crash at worst, at which point, typically, the client moves to search for yet - - - another manager. The trick is to become insensitive rather than sensitive to individual monthly fluctuations. |
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