Michael Covel starts off reading an email from a listener asking, “Do all trend followers use spreadsheets alone to trade? Or do they also use charts for visualization? I am having a hard time trading using a spreadsheet alone and I tend to need to see a chart. It provides the visualization I need.” Michael responds saying “What does the visualization do? Are your trading decisions based on the price or visualization of a chart?” You don’t need charts or multiple monitors streaming at a time. That is not how the best traders trade.
For the remainder of the episode Michael leads with a presentation from Gregg Popovich, the head coach of the San Antonio Spurs basketball team. Gregg talks about organization, discipline, player relationships (between players and the coach and between players and players), and the importance of being comfortable enough in your own skin to take advice from others, among many other subjects. You can’t begin to execute a trading rule until you have sound philosophical grounding. It starts with the right mentality and imagination, and Gregg is a perfect example of this. There are countless lessons to be learned listening to Gregg’s presentation. His outlook is applicable to anything you could want to do in life whether it be starting a business, trading, or running a marathon.
In this episode of Trend Following Radio:
- Why cultivating your second string is so important
- Foreign players vs. U.S players
- Importance of honesty
- Having the same standards for everyone
- Importance of humility
- A different perspective on goal setting
- Looking at the big picture
“It’s a journey. It’s a process. It’s difficult. The joy is in the process. The joy isn’t in the final culmination. That fades away pretty quick… The journey is what you are most proud of.” – Gregg Popovich
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