Ep. 519: Another Mega Trend Following Episode with Michael Covel on Trend Following Episode
Michael Covel's Trend Following
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The Differences Between Winning and Losing Trades
In our system, for example, our losing trades are held for about six days on average over the 14 and a half years. Our winning trades areheld for about 17, 18 days. Now in statistical sense, what it says is you've got losses and run profits. That's what it looks like. But the idea of doing that cutting losses running profits is a trade-as-preciate that everybody knows, but for some reason, those people can't do. It's not hard if you set very simple rules, and that's what we have encoded. We didn't have PhDs here. I would take the view that all the best PhDs probably work for David Harding
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Transcript
