Ep. 872: Aha Moments with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Connection Between Gambling and Trading
Ed Thorpe found a connection between gambling and trading. He realized mathematically that if you varied the bet size dependent on how attractive the individual hand looked, he could turn it into a positive edge. The analogy to trading is that one thing, and again, you need to, loudness is having some level of sophistication of what you're doing.
Play episode from 21:50
Transcript
