Ep. 599: Trend Following Insights and Lessons with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Philosophy of Trend Following
William Dunnegan gave us some of the earliest articulated insights into the philosophy behind trend following. Trend Following Methods in Commodity Price Analysis by Richard Doncian appeared in the Commodity Yearbook of 1957. Every good trend following method should automatically limit the loss on any position, long or short, without limiting the gain. Whenever a trend, once established, reverses quickly, there is always a point, not far above or below the extreme reached prior to the reversal, at which evidence of a trend in the opposite direction is given.
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Transcript
