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I am moving from a fundamentalist approach to trading. In my search to prep and get the basics, I started reading: The Battle for Investment Survival, Trend Following, Market Wizards, How I made $2000000 and still ahead The Little Book of Trading, Reminiscences of a Stock Operator, and The Complete TurtleTrader. I feel like I need to first ground myself in the philosophy, rules, and mindset before diving into technical aspects.
So I encountered your work and then the Turtle site and decided to dive in.
Have a great day!
Wojciech B.
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Dear Michael,
I appreciate your personal interaction and I am eager to hear your answer.
Maybe a little background from my side:
I am 38 years old, have a small family, situated in Germany and want to take my investments into my own hands, since I have no big faith in (investments) banks anymore due to some bad experiences. I have an academic research background and am fond of the idea of seeing investing from such a perspective, which is probably why the strict and rule orientated “Turtle Trading Strategy” caught my attention.
My goal is financial goal is two-folded. I want to have a defensive part in my portfolio for my retirement, which gives me about 29 years until I want to extract money from that part. The other part of my portfolio can be more risk orientated and is subjected to a short term (2-5 yrs).
About a year ago I wanted to get to know more about the financial market and how to best invest in the stock market. I have started reading financial news websites, bought trading magazines, searched the web etc. But, most of the stuff you read is about fundamental analysis. This “strategy“ really doesn’t catch me at all for two main reasons:
1. Excessive subjectivity on fundamentals of any given company
2. I do not have the time to read all that stuff having a 9 to 5 job and a familyDuring the course of my research, I came to the conclusion that either momentum and/or trend following strategies seem to be the best suited trading strategies for me personally.
So to be honest with you, the biggest challenge I am facing with my trading is that I have not started investing in any kind of strategy yet because of two reasons:
1. I haven’t found any strategies that give people like me (rookie with no substantially huge budget) the opportunity to try to take my first steps in investing without risking too much money.
2. I don’t fully understand many of the financial terms used, which is why I do not grasp the idea behind some methodologies.I really wonder what your answer on this will be (if there will be any).
Best regards,
Raphael B.
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How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.
Also jump in:
• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us
Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.
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Dear Michael,
My name is [name] and I’m 20 years old. I began researching trend trading a few years ago, with the help of my father who has been trading for 20 years. I’ve read many books on the subject, including The Trading Tribe, The Complete Turtle Trader Trading in the Zone, and more. My father and I have developed three trend trading systems and back tested them over 5 years, with a total of 2100 trades. The results were good, but our longest losing streak was 28 trades in a row, resulting in a drawdown of 26%. I’m writing to you to ask if this is a psychologically feasible situation, or if it’s normal to experience this when working with three different trend trading systems. Thank you for your time.
1. You have my TurtleTrader book. Performance data in appendix. Seen? See drawdowns?
2. Read my Trend Following book 5th edition? Lots of drawdown info.
How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.
Also jump in:
• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us
Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.
Subscribe to Trend Following Radio on iTunes
My guest today is Dwayne Bryant. He is highly sought-after by corporations, nonprofit organizations, law enforcement, and academic institutions for his proven ability to teach step-by-step strategies which build healthy sustainable relationships in communities and workplaces. He founded Inner Vision International, Inc. (IVI) which has been focused on developing results-oriented social emotional curricula and professional development workshops for students, parents, teachers, law enforcement, academic institutions, and Corporate America for more than 26 years.
The topic is race in America.
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Just wanted to thank you again for the audio book (TurtleTrader). I devoured it this week and truly enjoyed it. I read a lot of books on either my kindle app or physical copies, but this was my first audio book and it was a fantastic experience for me.
Being a member of your Flagship program, this story really tied it all together for me and think this book should be a mandatory read for your other members after they have read the manifesto. The story was fantastic, but I don’t know if I would have appreciated it as I did without thinking about the rules you laid out in your program while putting myself in the turtles’ shoes. The audiobook and that knowledge of the trend following rules made me feel like I was in the story.
At the end of the day it was the exact kick in the ass I needed to go back to the rules and quit trying to be cute with my adjustments that haven’t gotten me anywhere. Thank you Michael!
Oh! If you ever decide to get a group of Flagship members together for a similar experiment, I’m in man!
Les
Thanks!
How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.
Also jump in:
• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us
Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.
Subscribe to Trend Following Radio on iTunes
Please enjoy my monologue Population C with Michael Covel on Trend Following Radio.
Want to learn more Trend Following? Watch my video here.