Archive
Tag: risk management
- November 3, 2013Dickson Watts on Speculation: Timeless
Dickson Watts (PDF) prospered in the late 1800s, but his insights on speculation are timeless. Read that PDF. More from Michael Covel: Books · Podcast · Trend Following course
- October 23, 2013“The guiding principle of our work is figuring out a way to deal with uncertainty.”
Excerpt: Q: What’s the guiding principle of your work now? A: The guiding principle of our work is figuring out a way to deal with uncertainty. That’s what we deal with every…
- October 16, 2013A Great Example of How Too Much Protection Delivers Chaos — Either for Kids or Markets
Many think markets can be made safe. They truly believe there is a way to predict tomorrow and thus watch their accounts go straight up over time. Once all of the nasty…
- June 8, 2013Risk Management, Stops, Exits, Losers and Winners
Feedback in: Hello Michael, thanks for accepting my friend inquiry. First, I want to say that I am a big fan of your podcast and interviews. Really great stuff. About myself? I…
- April 29, 2013The Kelly Criterion Shocks Some and Inspires Others
Feedback: Hey there Mike. I was reading the hedge fund Market Wizards where the Kelly criterion was mentioned. To be honest it shocked me that any professional trader would take it seriously.…
- February 10, 2013Richard Dennis Offers Sound Day Trading Advice
For every ten traders that try their luck at day trading nine of them will go broke. It is just the way the game works. Famed trader Richard Dennis had this to…
- December 22, 2012Thinking About Winning and Losing
The guy who wins the most hands is not the guy who makes the most money in the long run. The guy who never loses a hand is not the guy who…