Synopsis: Today on the podcast Michael Covel speaks with Mike Shell on his second visit to the podcast. Shell is the President, Chief Investment Officer, and Portfolio Manager of Shell Capital Management–specializing in alternative investment strategies, active risk management and directional trend systems he developed for the global universe of exchange traded securities. Covel and Shell discuss the importance of having price stops; knowing you’re wrong when you from 50 to 45 (for example); defining positive and negative trends; the idea of risking a dollar to make two; predefining our risk and controlling our downside; why winning percentage isn’t as important as many people think it is; the importance of an exit strategy in the middle of today’s bull market; looking back on the market in 2008 and since; and the asymmetry of losses. For more information on Mike Shell, visit shell-capital.com. Want a free trend following DVD? Go to trendfollowing.com/win.