Ep. 1027: Performance Data with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Drawdown - The Worst Drawdown in a Trading Strategy
Managers are obliged to wear their worst historical drawdown like a scarlet letter for the rest of their lives. A great example of getting scared at the wrong time can be seen in this trader's story. He made the business decision to stop trading because of the pain he was feeling from the drawdown. Had he stayed invested, he would be up 121 point one per from his closing value, and 71 point six % from his starting value.
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