Join 10,000+ savvy traders that get Michael's exclusive insights & podcast episodes.

as seen on:

Ep. 462: Axe Capital with Michael Covel on Trend Following

Billions

Billions

Subscribe to Trend Following Radio on iTunes

Michael starts the podcast asking, “Do you need permission to get through your day?” He goes right into two examples: The first example is of his 12 year old nephew who just finished his baseball season. The second example is of a new show called “Billions.” It is about a hedge fund manager pitted against the U.S. attorney of New York.

Michael argues against/for the political corruption that starts in child sports. Michael says that being screwed over early by the system is a good thing. It makes you stronger in the long run. Every time you face these types of obstacles, you need to learn to punch through them. You can’t get bogged down with seeking permission. Especially at a young age, if children learn to push through and work hard they will have a much better chance at success later on in life.

Michael recommends watching the show, “Billions”. However, there are some things about Wall Street that have been left out. The show is based around a corrupt hedge fund manager that only trades off insider trading. The show does not highlight any other form of trading other than trading off fundamentals. Basing a character off of trend following is not nearly as “sexy” or dramatic. They want to position all of Wall Street as insider traders and corrupt because that is a far better story than making money off of rules and algorithms.

In this episode of Trend Following Radio:

  • Baseball politics
  • Asking for permission
  • “Billions” (TV show)
  • Insider trading

“Why do we have to tell them what they need to hear, why can’t we tell them what they want to hear.” – Ron Burgandy, Anchorman II

Mentions & Resources:

Want a FREE Trend Following DVD? Get it here.

Posted in Trend Following

Brexit Hysteria Might Be Contagious

Feedback in:

Good morning from the U.S.,

I wonder how many fundamental analysts could have “predicted” the market’s reaction to the Brexit news. It amazes me how many people still believe these “experts” on TV know what they are talking about. Hopefully some day people will learn that trend following is the only way to prepare for these 100-year floods that seem to happen quite often. Thank you for your podcasts and continuing to educate those who are looking for the right way to trade.

“Ride the bucking bronco.” – Bill Dunn

Michael D. Jr.

Thanks!

Let me add some relevant feedback from Sunrise Capital:

At a philosophical level, it is important to understand that while Brexit is in some respects novel and shocking (no country has ever left the European Union and many polls suggested that Britain would stay), from a broader perspective, Brexit is no different than any of the many exogenous geopolitical events that have periodically disrupted markets over the course of our 37 year investment history. As we see it, Brexit is simply another example of an “unexpected” event happening and investors overreacting to that event in such a way that it causes a great deal of immediate market turmoil.

The financial pain caused by this turmoil is real, it is not enjoyable and it is generally not good for the global financial system or people’s faith in that system, particularly in the short term. However over the long haul, as history has proven over and over again through world wars, revolutions, and numerous other types of global disruptions, markets are resilient and ultimately right themselves to some kind of equilibrium level. Accordingly, our approach to Brexit has been quite similar to the approach we’ve taken to numerous other global shocks and that is to plan, prepare and then “keep calm and carry on” as the British would say.

Wisdom.

Contagious?

Contagious?

Posted in Trend Following

Starting New in Trend Following

Feedback in:

Mike,

I’ve been on the front edge of the Internet age since the ’80s so I know most of this email response is automated, but just in case, is this really you, reading this personally? I have thousands of subscribers to some of my sites and even for a $6 or $24 purchase I personally respond to anyone who spends money on my products/services. Just wanted to say “hi” if you happen to do the same and actually read customer emails. I’m a 52 year old father of 8 and a long time business(es) owner searching for what I would like to do the next 20 years. After 35 years of hard work, I realize “trading time for money” is not how I want to spend the next 2-3 decades. I’ve never bought any big packages like Trend Following because 99% of “how to” stuff out there in any category (online business, real estate, MLM’s, trading, etc) is absolute worthless garbage which no doubt you already know. Reading your books is what swayed me to invest in Trend Following. Congrats on your obvious success.

[Name]

Thanks! I started 1996 with a 4-page website. Old school here too – it’s me responding.

Note: His email in regards to his Flagship purchase.

Posted in Trend Following

Trend Following Is Not Day Trading

If your desk looks like this you are in trouble.

If your desk looks like this you are in trouble.

Feedback in:

Hi Michael,

This is [Name] from Malaysia. I am inspired by your book series, Trend Following, TurtleTrader, The Little Book of Trading and Trend Commandments. For the past two months I have been doing paper trading using the turtle trading system I learned from your book and the results were promising.

Last night I listened to your podcast episode 458 on continuous improvement. In the speech you mentioned if one is using trend following in day trading, go away! I was shocked to hear that. For the past two months, I am using the 15 min and 30 min charts on most of my commodities and futures trading. The reason is if I use the daily chart to trade, the N value (ATR) is too big and my capital is very limited, plus the difference in currency exchange between USD and MYR.

Moreover, in the same podcast you mentioned it is gambling staring at the computer screen whole day–which is what I might result in doing if I use the 15 min or 30 min chart. And trend followers don’t do that?

With regards,
[Name]
Malaysia

Not a new message from me about day trading. I say across my books. I say here.

You can’t effectively trade a 6 month move as a day trader, for example. You can find more here:

trendfollowing.com/resources

trendfollowing.com/capital

trendfollowing.com/products

Limited capital? It will probably be even more limited soon enough with more day trading!

Posted in Trend Following

Ep. 461: Robin Hanson Interview with Michael Covel

Robin Hanson

Robin Hanson

Subscribe to Trend Following Radio on iTunes

Michael takes a sci-fi journey on today’s podcast as he interviews Robin Hanson. Robin is professor of economics at George Mason University and his new book is, “The Age of EM.” Robin and Michael look forward about 100 years and analyze what the world will look like.

They start the podcast discussing singularity and what it will be like when robots take over. Michael asks, “How much time will it take to get to singularity and are there faster ways that we may get to this point?” Robin says that robots are a staple of where the future is headed. There are a few different schools of thought on how they will evolve but Robin’s theory is based on porting. In a nutshell, this means that you re-write old software to fit your new criteria. The idea is to do the same thing with the human brain. Robin goes into detail on this idea and says that it may take as little as one century to unfold.

Next, Robin discusses the types of people that will start out being emulated. The first will be top intellectuals of the time. After some years that will expand to other types of humans. Robin says that the economy will boom and double in size quickly. He also expands on “Em cities”, what they are, how they are created, and how they are run. “Em’s” is the term Robin uses for emulation robots.

Michael brings up the effects this next reality will have on mother nature and Em sex. Em’s live in a virtual reality. They never have pain or disease. They have perfect bodies and just have sex for recreational purposes. However, they do not last forever. Em’s will have to retire eventually because of software rot which Robin gives examples of and expands on.

Next, Michael asks about the political ramifications of robots entering the work space. Will Em’s run for politics? Robin says that they will most likely be involved in politics because they would never want to be run by people that are not nearly as fast and smart as them. He then expands on what the bodies of Em’s will look like. He describes the different shapes and sizes that Em’s are going to employ. This leads to the question of death. “Will Em’s be afraid of death?” Robin says that they probably wont see it coming.

Many people, when they look at the future, like to discuss what will happen. There is a degree at which our future can be influenced but to a large degree it is out of our control. Technology has been out of control for awhile. There are such varied interests among people that it will not matter if one group wants to move forward with Emulations or not. Things will continuously evolve. Michael and Robin end on how the political system will be run in the Em world.

In this episode of Trend Following Radio:

  • Singularity
  • Robots taking over
  • Artificial intelligence
  • Slavery
  • Reversible computing
  • Virtual reality
  • Future of politics
  • Democracy in the future

“As an economist and a social scientist I often analyze the world as if nobody is in charge. As if it is not a matter of people voting on it, it is a matter of people doing lots of little things in local self interest that end up accumulating into the net effect that we all see.” – Robin Hanson

Mentions & Resources:

Want a FREE Trend Following DVD? Get it here.

Posted in Trend Following

Trading Food for Thought: June 23rd Edition

Tagged with: , , , ,
Posted in Economics, Trading 101, Trend Following

Admit Your Mistakes and You Might Get Rich

Admit Mistakes

Admit Mistakes

Tagged with: , ,
Posted in Daily Inspiration Quote, Trend Following
Covel Books & Film
Massive Performance

Trend following performance numbers.

Trend Trading Systems

Pricing for trend following systems. 1000s of clients across 70+ countries.

Free Market Wizard Video

Get your free trader legend video.

Live Trend Following

Michael Covel's live events.

Trend Following Podcast

Michael Covel's podcast. 3M+ listens; 400+ episodes: iTunes & Android.

 

Online Payments

 

Regular guy makes Trend Following fortune. His free video lesson: Watch It Now.