Ep. 4: Mike Shell Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Having an Opinion
Most people are trying to figure out what's going to happen next and they try to predict things. And the more you believe that, the more likely you are to pre define or pre determine your risk. So if you buy it at 50, for example, you're probably pretty unlikely to say, well, you know what, if it goes down to 45, I'm going to sell it. Now, some people say, why would you want to do that? Well, because it may go to 30 or 20 or 10 or zero, you see.
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