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Tag: statistical thinking

Casino Math Makes Trend Followers Happy

Posted on by Michael Covel

Casino math (PDF) may be the most important wisdom you can know to be a successful trend follower. In fact, I feature much of this thinking in my documentary film.

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Harvard Poker Pro Says Texas Hold ‘Em Can Teach Traders to Fold

Posted on by Michael Covel

From Bloomberg:

“Someone who has made a successful living as a poker player for a few years would more likely be a good trader than someone who hasn’t,” said Aaron Brown, a 53-year-old former poker pro who is now a risk manager at AQR Capital Management LLC in Greenwich, Connecticut, which oversees $23 billion. “They know to push when they have the edge and they know how not to bust, and that’s a tough combination to find.”

Thinking in odds is a crucial point of my film.

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Efficient Market Bullshit

Posted on by Michael Covel

I love it when people tell me the trend following ‘winners’ are the lucky survivors. In my humble opinion people who think like that are either ignorant in the short-term willing to learn/be corrected or, and I say this bluntly, losers in life unable to accept reality. If trend following winners are the lucky monkeys hitting the keyboards, than the king of the monkeys must be Warren Buffett. Buffett himself makes the case for why this is bullshit (there is no other word) in an excerpt from Snowball:

Part 1
Part 2
Part 3
Part 4
Part 5
Part 6

Book excerpt idea courtesy of BreakoutStocks.