Trend Following With Michael Covel

Daniel Crosby is a psychologist, behavioral finance expert, asset manager and author of several books. His most recent book is “The Behavioral Investor.” Daniel’s background in behavioral psychology has taught him to look at markets as a backdrop to view human behavior in a real world setting. Why did Daniel decide to write his latest book? What was his motivation? Daniel is a regular speaker at conferences. At those speaking engagements he was continuously hearing misinformation presented about behavioral biases in trading. He wanted to set the record straight about how to tap into emotions and explain how much personalities really play into trading. As a psychologist who works in the markets, Daniel gets real time information on how people are feeling by looking at how price movements fluctuate. Daniel cites a study showing that 94% of the time rules beat out discretion in the markets. Betting on your “gut” almost always leads to ruin. Trading off rules doesn’t just lead to a better trading record, it also