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Hello Michael,
I have no experience trading, so no challenges yet. However, I am hesitant about trend following or trading due to a lack of knowledge. I’ve read three of your books and the one that stood out for me was The Complete TurtleTrader. The Turtle philosophy and rules seem straightforward enough, but the devil is in the details. Currently, I simply have very little knowledge about commodity futures, foreign currencies, stock and interest indices, etc., and their leverage implications. Second, which CSI data plan should a novice initially use? Third, how do I track all the required information either by paper or Excel in order to stay on top of things? I believe one of your books mentions using a paper system in order to build a deeper understanding of the process. I currently invest in both Canadian and U.S. value stocks by using James O’Shaughnessy’s book What Works On Wall Street. I perform a quarterly analysis, using Excel, to rank the stocks based on value metrics, sort them into deciles, and then select from the top decile based on a six-month price momentum. So, it seems that I may already be using a type of trend following system for stocks. So far, I’ve been pleased with the results. I look forward to reading your mini trend following course.
Thanks,
Gary
Before you can go jumping into software and data? A first step. Your current strategy? Not trend following.
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