Michael Covel's Trend Following
Ep. 1257: The Trend Following Filing System with Michael Covel on Trend Following Radio
Feb 9, 2024
Exploring the importance of filing systems in trend following trading success without relying on technology for future prediction. Discussing the parallels between computers and traditional filing systems, with an emphasis on efficient data management and color coding systems for room identification. Delving into the functioning of mechanical systems for data comparison and the analogies between computers and file clerks, highlighting the challenges and solutions of multiple processors working in harmony.
54:09
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Quick takeaways
- Technology and trading focus on a filing system for efficiency, not complex algorithms.
- Richard Feynman equates computers to streamlined filing systems, emphasizing input, processing, and output stages.
Deep dives
The Role of Technology in Trading
Technology and good trading revolve around a filing system rather than complex algorithms or advanced technology like AI. The key lies in understanding your instruments, portfolio, entry and exit points, risk management, and stop losses. Computers serve as efficient filing systems, acting as tools for tracking and executing a trader's strategy effectively.
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