Ep. 1009: IQ, EQ, Decide, Science with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
Using a Single Piece of Information to Make Tough Decisions
The principle of a fast and frugal uristic is about using the minimum amount of time, knowledge and computation to make adaptive choices. In an uncertain world, if you wait until the data is clear, or until the ball has crossed the plate, you will miss the pitch. The process of trading our system is like repeatedly drawing different colored balls from the statistician's apocryphal bag. If your rule says, buy at price level 20, you do it. And if you want to win, you execute the entry signal as prescribed.
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