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Trading the Trend (Collection) by Michael W. Covel

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7. Decision Making

“‘Would you tell me please which way I have to go from here?’ ‘That depends a good deal on where you want to go,’ said the cat.”

Lewis Carroll1

“We see heuristics as the way the human mind can take advantage of the structure of information in the environment to arrive at reasonable decisions.”

Gerd Gigerenzer and Peter M. Todd2

Trend followers approach their trading decisions in a distinctly different way from most traders. They keep it simple. For example, each day thousands of traders attempt to evaluate a relentless onslaught of confusing, contradictory, and overwhelming market information to hopefully make profitable trading decisions (the type of information on CNBC for example). Although they know the ...

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