Ep. 744: TurtleTrader with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Turtles of the Market
Eckhart: Don't try to predict how long a trend either up or down will last. Eckhart gave the turtles an example of a market moving rapidly through the point where they were supposed to buy, but for whatever reason had missed. The turtles were not to wait for a retracement. There was no statistical justification to think like that. Dennis always came back to the scientific method, saying that when you have a position, you put it on for a reason and you've got to keep it on until the reason no longer exists.
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Transcript
