Ep. 848: Welcome to Thunderdome with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Conviction in Trading
Finance is dominated by randomness. You need to have a lack of conviction and dogma in certain things because you want to be able to prove that things are wrong. When we come up with a new strategy or a new idea or a new trading system, what we're trying to do is find out what's wrong with it. If you get literally months of testing and retesting and rethinking about it and thinking about things, different environments and so on, if it gets through months of that, then maybe it's going to work in the future. These are all very weak uncertain statements,. But to a great extent, the philosophy of what we do is around that certainty and conviction.
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