Ep. 320: Mike Shell Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Percent Accuracy
There's this thinking amongst many investors, many traders, some new, I can just get my accuracy to 60%. My accuracy to 70%, they're winning percent up. And I sometimes just scratch my head and I'm like, have you bothered? Some of us were probably raised in a way that we were forced to do that more than others. We cannot actually control the probability. But maybe you can skew it a little bit. The edge is knowing that the exit determines the outcome, not the entry. It may go from 50 to 43 and into 60 and then down to two. Okay. That's fine. I'll keep having my results."
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Transcript
