Ep. 955: Price Is It with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Price Action
If your stop hasn't been hit, you're long. You don't fight it. This is the whole idea. Let your profits run on. Cut your losses short. In the example I'm giving you right now, I'm not predicting a damn thing. I'm playing a game. The game is I want to follow the momentum of the crowd and that's represented in the price action. So if you need to make a decision about buying and selling, why not just go straight to the central issue, which is price? And I'd like to think this is straightforward. Maybe I'm not explaining it good enough.
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