Bielfeldt est l'un des Market Wizards interviewés par Schwager dans son premier tome. Il est un suiveur de tendance à long terme, sur le T-bond après avoir réussi sur le soja. Il se base sur l'analyse fondamentale pour se faire une opinion. Il utilise l'analyse technique (sa propre méthode de suivi de tendance) essentiellement pour suivre son opinion et surtout lui donner une méthode pour fermer ses positions. Enfin lorsqu'il rentre sur le T-bond il cherche des spots avec un risque limité entre 0.5 et 1.5 pts et réessaye plus tard si le marché va contre lui.
- I use the [mechanical] system primarily as a backup to tell me when to get out of a position.
- I think to be viable a trend-following system has to be medium to longer term. The more sensitive systems just generate too much commission.
- I used to pay more attention to systems than I do now. Basically, I just focus on my own judgement.
- The economy is the single most important factor in fundamentally evaluating the T-bond market. Four others important elements are inflation expectations, the dollar, the trade balance, and the budget deficit.
- The most important thing is to have a method for staying with your winners and getting rid of your losers.
- The most important trait of a successful trader is discipline. Second, you have to have patience; if you have a good trade on, you have to be able to stay with it. Third, you need courage to go into the market, and courage comes from adequate capitalization. Fourth you must have a willingness to lose (if a trade lose, you can handle it without any problem and come back to do the next trade). Fifth, you need a strong desire to win.
- The best thing anyone can do when starting out is to learn how a trend system works. Trading a trend system for a while will teach a new trader the principle of letting profits run and cutting losses short.
- When you are starting out, it is very important not to get too far behind because it is very difficult to fight back. Most traders have a tendency to take risks that are too large at the beginning. They tend not to be selective enough about when they take risks.