Ep. 488: Never Forget the Lessons with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Be a Successful Speculator
The late Dixon Watts, ex-president of the New York Cotton Exchange and famous author of speculation as a fine art, says that courage in a speculator is merely confidence to act on the decision of his mind. With me, I cannot fear to be wrong because I can never think I am wrong until I am proven wrong. It was not difficult to be both fearless and patient. A speculator must have faith in himself and in his judgment. Observation experience, memory and mathematics are what the successful trader must depend on. He must bet always on the probabilities that is, try to anticipate them. Years of practice at the game of constant study of always remembering enable the trader to act on
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