Trend trader Paul Mulvaney is in my new book coming from Wiley. We have met and spoken several times over the years, but it really struck recently how he described risk of ruin for his trading. Ruin for him is not being able to trade the markets/instruments that his trend following system dictates. You can see from his performance (click on his name) that he plays for the big win. It’s old school trend following at its best.