This is Trend Following Radio, where great thinking comes alive.

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covel, not filtered, raw, honest.

That's my passion.

People are petrified about what I'm going to talk about today.

In the investing world, there can be nothing more frightening, more scary, more shake your boots,

make you wet your pants than the idea of a black box.

The idea that smart men and women could take technology

and use it to effectively trade the markets

to write out rules that they follow to a T religiously, to write out rules that dictate.

You will buy at this price level, you will sell at this price level in this particular market.

You will bet this percentage of your capital at any given point in time on this

particular trade. The idea that you can take that, that philosophical construct, and

reduce it to code, reduce it to rules. I don't care whether this is C++, Excel, Trade Station.

All of that's a distraction. That's immaterial. But the idea that you think that it's frightening,

that it's scary, just like that opening Black Sabbath passage.

Come on, you're just full of shit.

It's not scary at all.

You know it's not scary.

There's only two choices here.

You either don't know what the fuck you're talking about

or you're selling your book,

...