Ep. 965: The Tom Basso Book with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Risk Management
If you don't have any chips, you can't play and no one knows what's going to happen. It's like all the insurance, right? I mean, who wants to buy all the insurance? You really don't want to take the risk of getting killed or, you know, the suits and everything else. So basically, you pay to have peace of mind. We use trend following and stops to get peace of mind because weDon't want to lose those chips. That's how our business functions.
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