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Dear Mr. Covel,
I am writing to express my deep gratitude for your inspiring work. Your books, including Trend Following, The Complete TurtleTrader, Trend Commandments, The Little Book of Trading, and Trend Following Mindset, have profoundly impacted my approach to trading. I wish I had discovered them earlier.
I began trading in mid-2022 and experienced beginner’s luck with gold around $2,000. I bought at $2,025 and added to my position as gold rose to $3,000.
However, I didn’t realize I was trend following at the time. Later, I shorted gold at $2,500, believing it was in a bubble, and suffered significant losses. This experience affected my confidence and led to psychological challenges.
Initially, I studied technical indicators like RSI, Stochastic, MACD, and Bollinger Bands, but my results didn’t improve. Your books introduced me to trend following, which has since shaped my trading strategy.
However, I still struggle with the fear of losses, which often outweighs the joy of wins. At times, I hesitate to follow my system’s signals, doubting whether the market or timing is suitable for a trade.
Could you share advice on overcoming the psychological impact of losses and building confidence to trust my trading signals consistently? Your insights would mean a great deal to me.
Thank you for your time and for writing such transformative books.
All the best!
Hoàng N.
You are welcome!
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