Ep. 492: TurtleTrader Plus Lemmy with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Trading the Right Way
The rule was designed to keep traders with a big profit run up in their trading account from acting irrationally or breaking a rule. John has 50% more money, then decides to go on vacation and while he's away having fun at South Beach, Mary makes 50%. Now they have exactly the same amount of money. The correct course for John is the correct course for Mary. They have the same risk aversion and the same system. There is one small difference between the two.
Play episode from 21:35
Transcript
