Ep. 1105: A Double Punch with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Difference Between a Disciplined Trading System and a Trading System
In early 2007, I'm not trying to make myself up to be a good person. But we were following the news around the mortgage backed security markets and those best-owned firms that went down in February, 2007. And I really think we're going to see massive sell-off in equities here. It was about 18 months before the sell-off actually happened. The difference between me and the trading system was the trading system carried on being long equities until much later when it saw the market turning then automatically reversed its positions. So you've got three groups or four groups of people. A large number of people that had no idea what was coming and even well into the crisis was
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