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Hello Mike,
Reading through the FAQs this morning, and wondered if you could expand on this one:
Q: Can your courses and systems be applied to shorter time frames like hourly or 4-hour charts? Does day trading work in conjunction with trend following?
A: No. Day trading is fool’s gold. Michael’s systems and courses will be worth millions to you over a lifetime.I can understand why people ask the question – it seems logical that shorter term trends ‘ought’ to be tradeable in the same way as longer term trends.
I’m now retired and giving serious consideration to the Trend Following course(s) come autumn (fall) so that I can manage a retirement account, spending a limited amount of time daily managing with daily charts, or possibly a limited amount of time weekly with weekly charts.
Assuming I managed to master the Trend Following course successfully, as I have time available to monitor markets intraday, it would seem to make sense to maximize the benefits by applying that knowledge to shorter term trends with a separate trading account, as a way of using available time to generate additional returns/income, instead of looking for some other completely novel way of generating additional income.
Hope this makes sense.
Regards,
Malcolm U.
Intra day trading is a different animal. It’s not trend following at all. You don’t get the chance to ride the massive trends that can go on for months. And transaction costs kill you. Given all my work on TF I don’t see any logic in the short term trading pursuit.
Timeless wisdom from a legendary TF: https://www.trendfollowing.com/2005/03/01/seykota-on-short-term/
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