Ep. 544: Serenity with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Importance of Stoicism in Trading
Stoicism is like you know think through the worst case scenarios live them in your mind and then when some of these bad things happen you're not so surprised well that's exactly right. I'd also argue that you should also live through the good times as well in your mind so when you're getting into a position if you could say if this went insane like if tomorrow or something this stock I just bought gets it gets an offer for twice the value that I just put into it what does that mean how do I react? You have to prepare yourself for all sides of it not just the bad ones but the good ones too.
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