Ep. 969: A Speculative Reminder with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Cutting Losses and Letting Profits Run
The first rule of trading is to cut your losses and let your profits run, says Charles Faulkner. But a strategy that uses profit targets is problematic at a root level, he adds. A good example of not letting profits run can be seen in strategies that take profits off the table before the trend is over. "I would prefer to finish with a certain currency forecast based upon my own fundamental reading of the market"
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