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Ep. 1177: Two Trend Following Minds with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Predating of Trend Following in Financial Markets
It's very hard to find extremely significant statistical effects on the high-frequency side. The idea of trend predating trend following and that actually the traders using these models today make up a very small percentage of the volume. But I would say that traders on aggregate using trends is probably the reason why trends are there in the first place.
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