Ep. 175: Dylan Evans Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Effect of Bets on Trading
There's no expert gamblers and no expert traders that bet that heavy. And another sort of related phenomenon there is that if someone bets, say, even if they bet as relatively small and cautious amount on their first few gambles or investments or trades. And then if they do well on those first few trades, then what happens is they're often tempted to get buoyed up by the joy of winning in some way. They kind of maybe unconsciously think they're on a roll or something like that. Then they then increase the size of their bet when really, you know, the next big gambler wouldn't do that. And then they lose big time and you see this in some interesting
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