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Ep. 1173: The Right and Wrong Way of Trend Following with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
How to Make Money in Financial Markets
When I started trading in or studying the futures markets in the 1980s, I teamed up with my partners and we used computers to test some of the popular ideas. And perhaps the most popular, popular trading ideas was trend following. We tested all these rules and we found that as far as past data concerned, they worked. This is very surprising. They're not supposed to work. On the other hand, the theory is that they can't work. So fortunately, we did what young men and women do, which was we took a gamble and started a company. But surprisingly and conveniently they have worked for the next 25 years. That's about the amount of time you need to build a
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