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Ep. 1185: Where’s My Mind with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Importance of Preparation in Elite Performance
It's relatively easy to back test strategies with enough iterations you can find randomly a strategy that will look good not only on the back test but on out of sample performance. It looks like a very smooth wonderful ideal P&L curve but of course that doesn't match the reality of real time returns. The key in performance fields is that people elite performers spend more time in preparation than in actual competitive performance. That preparation works at two different levels. It helps develop a strategy and approach and it helps prepare the performer psychologically emotionally.
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