Hey Mike, Greetings from Brisbane, Australia. I don’t know where to start really. I have intended on writing to you for such a long time to say thanks. Thanks for everything that you do. I have followed your work for approx 5 years now and I can absolutely positively say that no one individual has influenced my life as much as you have. Thank you for your podcasts. I have listened to every one. I literally refresh my podcast app on my iPad in anticipation of the next one. Thanks for your books. I have read them all. ‘Trend Following’ which I read about 4 years ago for the first time has really changed the way I look not only at the markets but also at the world. Trend following is a metaphor for life. Thanks for introducing me to Seth Godin. Linchpin has had such an impact on me. I happen to enjoy my line of work and make a comfortable level of money out of it. I also get to create my art. I am so thankful that yourself and Seth made me realize how lucky I am not being a cubicle or factory worker. Thanks for introducing me to Tim Ferris too – The 4 Hour Work Week has also revolutionized my approach to time management. I found Zen Habits and James Altucher through you too – wow! Not only that, I have just started yoga. Holy cr@p – what an experience. Can’t believe it took me 39 years to give it a go. Anyway – enough gushing. Suffice it to say that I admire your work greatly. I have never purchased one of your courses as I have been using my own simple trading strategy. Buy/Sell 52 week High/Lows and use ATR for trailing stop across 80+ markets including currencies, commodities, treasuries and indices. It is logical and simple. However, I am now finding my rather manual system too much like hard work. I have to manually check each chart every weekend for new high/lows. I have to manually calculate ATR and stop loss. I have to manually place stop orders. And to be honest my approach to managing correlations is discretionary at best. For e.g. when Nasdaq, S&P500 and Russell 2000 give simultaneous entries I don’t have hard rules to manage. When trading currencies they are generally v USD – how do I make sure I am not over exposed to USD moves? Anyway – what I am saying is I think I need some help and am interested in being part of your TF team.
- Do you have a system with similar logic to the one I described above? (this is for my retirement account so checking the market once a week is enough for me)
- Do you have a way of automating such a system or at least automating the buy/sell signals?
- Do you know if I can open an account in AUD with a broker that provides such a service? Or would I have to open a USD account in the USA and hedge currency risk?
That is all I can think of for now. I thank you for your time and hope that Saigon continues to treat you well.
P.S. I listen to Porter Stansberry too and have always wondered how he would argue against TF given he is a value man. I really enjoyed your recent conversation with him.
P.P.S. if you ever come to Brisbane I would like to buy you a beer.
Thanks for the nice feedback Patrick.
1. Our trend following systems are in a similar head space, but with more refinements re: money management and portfolio selection.
2. See: trendfollowing.com/trex.
3. Stick with your home country broker and leave in whatever currency you desire. No great leads for brokers. All the known names.