Re: Random Walk
You use technical tools (moving averages, overbought/oversold, cycles) to design +EV money management systems that let you cut losses short and let profits run. Meanwhile, you try to live with the conflicting belief that it is all random.
BTW, I don't think it is random 100% of the time. 99.9% perhaps, but not 100%. This explains why certain fundamentalists (Jim Rogers, Steindhardt) have made money. They are extemely selective traders that have the courage to go for the jugular when they're winning.
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