"A big trading score requires far more than the desire to make it happen, perseverance, incredible patience, discernment, boldness and the right trading tactics. It requires the right markets at the right time in a trader’s career – and that is largely a function of luck. Without the intervention of providence no amount of desire/boldness/trading tactics will make it happen."

Deutsche Bank

 DB is trading near all-time lows, well below the lows it reached in the debt crisis of 2008. DB is currently approximately 92% off its prior highs reached in 2007.

"study covered the 88-year period from 1927 to 2014 ~ evidence that supports the view that time-series momentum (also referred to as trend-following) is one of the few investment factors that meet five important criteria for inclusion in a portfolio"

http://www.etf.com/sections/index-investor-corner/swedroe-persistent-kind-momentum?nopaging=1

"momentum is clearly based on behavioral explanations, including herding, anchoring, confirmation bias and the disposition effect. Because momentum has performed well historically, it’s clear that these behavioral biases have likely existed for a long time. And human behaviors tend to persist even after the biases are discovered and made well known. After all, that’s what makes us human."

http://www.etf.com/sections/index-investor-corner/swedroe-why-momentum-struggling?nopaging=1