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Ep. 1077: Inspiration from Three Bright Minds with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Importance of Money Management

"I took the $10,000 to $1.1 million in a real-time trading championship because of money management," he says. "No trend, you're not going to make a nickel." He adds that day traders have their deck stacked against them: Time runs out at the end of every day. The overall underwriting rule is really that small to win big,. You have to bet a correct amount based on your system.

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