Dec 26, 2014
Michael Covel digs into the epic 2014 crude oil plunge and the profits that have followed (from the drop!). In breaking apart the issue Covel quotes Byron Wien, the Vice Chairman of Blackstone, on his oil predictions. What good is a prediction if it’s not even close to reality? If Wien can’t predict the price of oil how can the average investor? It’s that simple. Covel adds into the discussion the importance of cutting your losses, and why all successful traders do so. Building on taking a loss, Covel opens up catastrophic loss "imagination". Can you imagine a 75% drop in the stock market? Don’t be caught like the fundamental guys with no plan. Prepare for it. Covel also discusses why having a system means not having to be "definite"; having an approach based on the fact that you don’t know what is going to happen next; and why trend following has been buried in the mainstream media. The oil plunge in 2014 has been historic and offers a great example of trend following success in action. Would you like a free trend following DVD? Go to www.trendfollowing.com/win.