Ep. 492: TurtleTrader Plus Lemmy with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Get Back Into the Market
When the turtles were taught that they had to exit with a small loss because they don't know how far it could drop, they got out. But if after taking a small loss, the turtle got a signal to get into the market again, they got back in. An example using legendary hedge fund manager Paul Tudor Jones best explains the point. In one of Jones's best trades, he got an entry signal and lost 2%, forcing him to get out. All of a sudden, the entry signal came right back as the market moved in his favor again. Then it went against him again for another 2% loss, forcing him to getting out again. He went through this process 10 or
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