“As the trend went down, I continued to buy…”

Feedback in:

Mr. Covel,

I normally don’t contact authors as I read many books mostly centered around investing.

In early 2020, when the world was taking a shit, I read a book on LEAPS. For about two weeks my account went from $550k to $425k. While most people would have taken a giant shit and possibly slit their throats, I, in ignorance, hung on. My goal was to hit $1M by the end of 2020.

Thru sheer luck and stupidity, I hit that by August and went onto finish the year with a balance of $1.7M. I crushed it. Then came 2021 and 2022. As the trend went down, I continued to buy.

The lesson? I didn’t follow the trend. I wound up losing over $600k not knowing what I was doing.

There was some good news that came out of it all but that is an email for another day.

Mostly, I wanted to say how much I love your book and am a Michael Covel convert. I will be reading the rest of your books.

Love your writing style. We are twin sons from different mothers.

Thanks again and keep up the great work. The world of trading needs guys like you.

Mark D.

Thanks for the nice words!

Filed under Trend Following