Ep. 59: Don't Let Them F*** You Around with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Find Your Expected Value
You can find a positive expected value. That means you can make money over the long haul. The market price is not all that matters, but in the context of what I'm talking about right now, finding your expected value,. That's the trick. And when you hear the word gambling in the future, if you don't already have a positive view of it, look at gambling in a different way now. Think about it in terms of probabilities and payoffs. In The Alchemist, they find a piece of the philosopher's stone and some of the elixir of life.
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