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Please enjoy my monologue No Pullbacks with Michael Covel on Trend Following Radio.
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Hi Michael,
Biggest problem [in trading] is staying in losers too long and getting out of winners too early.
Enjoy your podcast and just finished Trend Following, 5th Edition. Nice ride!
Thanks and take care,
Rory B.
Thanks!
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My biggest challenge is getting in too late because I think I’m scared to get in, if I do get in at the right time, I get out in the consolidation, and then I get out way too early when I’m in a breakout. It’s like I’m right there and miss it. If I’m aggressive, I’m not patient enough and too anxious, and if I’m patient, I don’t get aggressive enough. I also want to know way more than I do for confidence building but I’m so tired of listening to sales pitches instead of actual legit useful tidbits of knowledge.
With Gratitude,
Jennifer B.
You need a system. Start here.
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.
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Hi Michael,
My name is Gustavo and I’m a junior trader/quant at a HFT firm based in Chicago. I am a big fan of the pod and a big believer in trend following/inefficient markets. I have a quick question for you: How do you determine what kind of regime/environment a market is in? I think it’s very important to establish if a market is trending, reverting or random as different strategies perform very well/very poorly in each kind of environment, but I’m not sure how to systematically identify these environments. I have played around with Hurst Exponents as well as the ADX indicator, but I would love to hear your insights. Obviously you can look at the chart and determine the trend, but I was wondering if you had a more colorful answer. Thank you and I’m looking forward to hearing from you!
Best,
Gustavo A.
“How do you determine what kind of regime/environment a market is in?”
This is not part of trend following. Unneeded. The rules account for all environments.
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.
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Good afternoon/morning/evening (whatever it is where you are when you see this),
I’m a big fan of your podcast. I used to listen to literally every episode, but life came in the way of that and I stopped listening all together for a couple of years.
Nowadays, I have a commute to work for the first time in years, so I started listening again. I can’t help but be attracted to the thinking, and the way you constantly question your assumptions to seek what’s true.
Regarding young people, I think I’ve heard you say something along the lines of you don’t understand what drives us young people. As a 27 year old male, I think you know exactly what drives us. What practically every young person wants is exactly what you have; independent wealth and freedom. And if we can’t have that cause of forces working against us (some within our own psyche) we settle for a cushy job with a boss that’s not an a**hole. But I think most of us would prefer if there was no boss at all.
Oh, and there is not a single young person I have met that trusts the government. Or any large corporation. No wonder we’re so “lazy”. We have no desire to serve the soulless factories of wealth and war making. I think things would be different if we had leaders like Hank Reardon, but instead all we have is a bunch of Floyd Ferris’s and Wesley Mouch’s.
Maybe it’s just me, but I don’t think any of us are “satisfied” with our lives. We say we don’t care to climb the ladder for wealth and we have other priorities, but the truth is we want no part in Ferris’s death machines and Mouch’s looting. And don’t even get me started on Orren Boyle. But we do what we must, and we make no attempts of climbing the corporate ladder because we know it leads to nowhere but an empty pit. So all this jargon about “making the world a better place” is really just code for “we know you old people screwed things up royally so up yours buddy”. Most are just self righteous a**hats and in their heart of hearts they don’t care about anything but themselves. So much so that now we want to choose our own gender. How much more arrogant and entitled can you get?
May the Deathless One have mercy on us, America is in a bad way and I fear judgement from above is coming.
God bless,
David W.
Thanks.
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.
Excerpt:
He wanted to be a starting quarterback. At Michigan, he wasn’t starting, and he was so low on the depth chart (fourth) that he only got 2 reps in practice. With three quarterbacks standing in his way of getting what he wanted, Brady decided to transfer. He met with his coach to express his frustration, “The other quarterbacks get all the reps.” His coach replied, “Brady, I want you to stop worrying about what all the other players on our team are doing. All you do is worry about what the starter is doing, what the second guy on the depth chart is doing, what everyone else is doing. You don’t worry about what you’re doing.” Coach reminded him, “You came here to be the best. If you’re going to be the best, you have to beat out the best.” And then he recommended that Brady start meeting with Greg Harden, a counselor who worked in Michigan’s athletic department. “There’s all of these guys ahead of me on the depth chart,” Brady told Harden. “I’m never going to get a chance here. They’re only giving me 2 reps.” Harden simply replied, “Just go out there and focus on doing the best you can with those 2 reps. Make them as perfect as you possibly can.” “So that’s what I did,” Brady said. “They’d put me in for those 2 reps, man, I’d sprint out there like it was Super Bowl 39. ‘Let’s go boys! Here we go! What play we got?’” “And I started to do really well with those 2 reps. Because I brought enthusiasm, I brought energy.” Using the Harden tactic, soon, the 2 reps went up to 4 reps. Then from 4 to 10, “and before you knew it,” Brady said, “with this new mindset that Greg instilled in me—to focus on what you can control, to focus on what you’re getting, not what anyone else is getting, to treat every rep like it’s the Super Bowl—eventually, I became the starter.”
That’s it.
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My guest today is Kevin Kelley, strategy and design firm principal. He has over 35 years working in the areas of retail, food and places of public gathering and commerce. Skilled in Architecture, Brand Strategy, Retail Strategy, Retail Design, Business Model Innovation, Consumer Behavior, Consumer Psychology and Management. Kevin is a frequent lecturer at conferences around the U.S. and in Asia.
The topic is his book Irreplaceable: How to Create Extraordinary Places that Bring People Together.
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