Ep. 1105: A Double Punch with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Negatives of Being a Systems Trader
There are some people who can do much better than a trading system. But most of us aren't going to be the very best discretionary traders so we should just forget about it and stick to a system, he says. There is a second thing which is there are very rare occasions when you do need to intervene with your trading system. I'm not talking about changing the system every month to see what your perception of risk is at the moment. We had to get out of those positions or risk being a situation where we'd be losing client money.
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