Ep. 492: TurtleTrader Plus Lemmy with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Turtles of the Zero-Sum Trading Game
Dennis Eckhart taught his students to follow the rules and not let fear, greed and hope interfere with their trading. The turtles had to have the confidence to follow through on all rules - hesitate and they would be toast in the zero-sum market game. If Google has a precise volatility, n, today of 4, that's not a judgment call. A trader who trades differently because of swings in confidence is focusing on his or her own past rather than current realities.
Play episode from 16:46
Transcript
