Ep. 985: The Trend Following Tell with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Waiting on the Market
So you've taken that momentum indicator and in my hypothetical example here, you're long and you're waiting. Waiting for what? Can't I predict which way the market's going to go? No, you're an idiot if you think you can do that. All you can do is wait. Wait until there is price movement that tells you to take an action. Price movement that tell you to either exit with a gain or exit with a loss. You mean I actually just sit there and I can't control anything?" he asks. "I literally have to take my entry signal and sit back and go get a cup of coffee or go for a jog," says Mr Boulden.
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