A reader writes in today:
I like the “inspirational trader talk”…I read Michael Covel’s book Trend Following…and I’m finding myself as frustrated with the website as the book made me. It seems like one long advertisement for the “star money managers”. I want to be a “Trend Follower” myself. I study price charts and am looking for true insights into mechanical trend following.”
Trend following starts with an idea. It starts with a philosophy. It starts with curiosity. It starts with the passion to make it happen — above all else. It doesn’t start with some magic indicator. It doesn’t start with some Holy Grail or some “wondrous line of computer code”. It doesn’t start with whining!
The book Trend Following uses examples of the thought process, philosophy and technique of great trend following traders. The book has reached tens of thousands of readers. The feedback has been overwhelmingly positive. For that I am grateful. But what about those that miss the wisdom of the great traders? Wisdom anyone can take and apply?
There is a lesson to be learned from the words of the reader above. For some people even if there were some “magic”, if they had it, they would still cry they didn’t have it. I bet the above reader will search his whole life and will never find “it”…when “it” will be right in front of him the whole time.