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Ep. 111: Nick Radge Interview with Michael Covel on Trend Following Radio

Nick Radge
Nick Radge

My guest today is Nick Radge. Radge operates The Chartist (www.thechartist.com.au). He began trading in 1985. During a stint working for an investment bank in Singapore Nick dedicated his evenings testing trading strategies; 2 hours a day for 18 months, a total of at least 750 hours. Nick’s first book, Every-Day Traders (John Wiley & Sons Australia Ltd, 2003), was written to identify the traits of successful traders.

The topic is his book Unholy Grails – A New Road to Wealth.

In this episode of Trend Following Radio we discuss:

  • How the trend following world is foreign to many people
  • The importance of drawing distinctions between traditional value investing and alternative systems like trend following
  • How the name of the game for many fund managers is not necessarily performance but funds under management
  • Playing the game of mathematics vs. playing the game of picking the right stocks
  • Why the US stock market has gone straight up despite all the fear going on elsewhere in the world, and why you shouldn’t “fight the tape”
  • Closet trend followers
  • Why price can’t be faked
  • Trade restrictions, cultural attitudes, and the importance of being able to step out of the crowd
  • Why individuals have an advantage over fund managers
  • The value of understanding trend following even when you don’t actually use it as a strategy
  • Spotting ‘trends’, how you can’t spot a trend until it’s started or until it’s over, and using hitchhiking as an analogy for trading
  • How trend following is useful when outlier events and black swans appear
  • Using rules and strategies to fight fear
  • The difficulty of using Warren Buffett as an example, and the problems that arise when managing larger amounts of money
  • Radge’s thoughts on being an entrepreneur

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