From the author of The Complete Turtle Traders now comes Trend Following, Michael Covel. He will be joining me on my radio show 8/4.
Michael does it again! By interviewing the top traders of this generation, he brings out the essence of trend trading. The thing for you to consider is: how much of the trend to you want to get? Why jump out of a trend?
Thinking about Gold, sometimes the trend goes further than anyone could guess. Here are some of the highlights from the book:
Have a pre-nuptial agreement with the market… cut your losses short! Never mind the cheese, let me out of the trap.
“Losers average losers”- use the tier system to average up into winners, not average down into losers.
HAVING THE COMMITTMENT TO WIN!- One of the biggest themes in the book. Trend following and trading are not designed to create average gains.
His Cheat Sheet: No predictions, just react to trends and let your profits run.
*DISCLOSURE: No relevant positions
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