Listener: My first question. How can a $50,000 portfolio generate a $1000 per week return on average over a 1-year period trading shares (stocks) on the Australian Share Market?
Covel: I don’t follow. You want to consistently make 1000 per week? Impossible. Or you you want to make essentially 100% in one year? Possible, but high risk. Of course, no guarantees and you can’t force a particular year to give you anything.
Listener: My second question: What is the expected time frame for someone new to share trading to master trend following strategies and be profitable? (This is assuming they can master themselves and their attitudes to risk, share trading and money management.)
Covel: No one time frame, but in under few months you could be trading. Also, see: www.trendfollowing.com/faqs.
Listener: Reading your books The Complete TurtleTrader and Trend Following. In The Complete TurtleTrader you use company names that did not exist when the turtles were trading [Note: The Turtles are still trading]. I know they are examples, but somehow it loses credibility because they could not have been trading them. So that was made up. My mind then creates this picture. Google inserted to make this story sound better/more modern (maybe?).
Covel: You read The Complete TurtleTrader and that is your conclusion? This is not for you, clearly.