Please enjoy my monologue Get Your Trend Following On with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
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My first introduction to trend following/trading was your book(s). The TurtleTraders fired my imagination and desire to learn more. A trend follower now for the past 10 years. And was just recently asking myself the question: “Who are the people that might be interested in trend following, but aren’t getting it?”
Mike
Everyone gets what they want — to paraphrase Ed Seykota.
Thank you for sharing this important trading resource. I am getting back into trading and I am having a hard time identifying exit points. I appreciate that once you enter a trade, barring a material change to the trend, your next move (i.e. add more to or get out of the position) is predetermined. It seems difficult to know when to “let it ride” versus when to take smaller gains and move on. Also, given the amount of algorithm-based trading, it seems that 1-3 month position trading has many benefits, but I need to learn more about entry points for that time horizon that is not based on fundamentals or news.
Thank you very much and I look forward to your course.
My guests today are Mark Victor Hansen and Crystal Dwyer Hansen.
Mark is the co-author for the Chicken Soup for the Soul book series and brand, setting world records in book sales, with over 500 million books sold. He is also a prolific writer with 307 books authored or co-authored, including The Aladdin Factor, The Power of Focus, The Richest Kids in America, The Miracles in You, You Have a Book in You, and the One Minute Millionaire series.
Crystal is a business strategist and successful entrepreneur, speaker, and author in the US and China. Crystal, also known as the “celebrity coach,” is a certified life coach and wellness/nutrition expert, whose personal coaching, speaking, CD and video programs, books, and articles have helped people all over the world.
The topic is their book Ask!: The Bridge from Your Dreams to Your Destiny.
In this episode of Trend Following Radio we discuss:
I have no bullish or bearish bias when analyzing the markets, nor do I base any of my trades using a fundamental approach. I simply follow my technical analysis. I utilize multiple time frame analyses including the Daily and 4-hour time frames however, in some cases I employ the weekly time frame to provide me with a better perspective of market movement although, I never execute off the weekly time frame. I only buy when the price is above the 200 periods MA and sell when the price is below the 200 MA. I identify horizontal ranges on the daily time frame and wait for the price to come in close proximity with the support or resistance (which I identify using the 200, 50 and 20 period MA when they align). Once the price has reached these areas of value I use the daily and 4 hour time frames to identify tight consolidations using minor support/resistance levels, I then wait for a break of structure on the 4 hours characterized by an engulfing candle or an engulfing candle variation and enter the trade when I receive that confirmation. I also trade pullbacks in a similar fashion using the break of structure on a 4-hour time frame. I place my stops 1 ATR below the area of value or swing low. I use these concepts simultaneously with simple chart patterns such as (Double bottoms/tops, Head & Shoulders bottoms/tops as well as ascending and descending triangles) to identify if it is a higher probability trade. I trade numerous markets including Forex, Crypto, Commodities, and Metals and risk 1% of my capital on each trade. I hope this brief description answers your questions however, if it doesn’t I’m happy to explain in more detail if it helps.
Jame G.
I just listened to your interview with Alex. I am a 35-year practicing attorney, now practicing in Florida. When I first started practicing in New Hampshire and Maine, all you had to do to get clients was hang a sign-out. Life is very different now since the Bars allow attorneys to advertise. Advertising is a big chunk of an attorney’s time and money, though we try to rely on referrals in the first instance. The big disruptors in the legal field are the on-line legal service outfits like Legal Zoom and Title Companies who make their money selling title policies by doing real estate closings. The only thing left that most people can’t do that lawyer can do – is going to court. Going to court is now changing how one goes to court via video conferencing. when I started law was a profession. It is now more of a commodity. I love your podcasts and listen every second I am driving. You say things I think but don’t say, and when that happens it gives me a big laugh. Not laughing, but enjoying your honesty. Keep up the good work.
My guest today is John O’Leary, internationally acclaimed speaker, bestselling author, and renowned podcast host, John helps hundreds of thousands of people to live inspired each year, sharing his insights and inspiring message with emotional storytelling and unexpected humor.
The topic is his book In Awe: Rediscover Your Childlike Wonder to Unleash Inspiration, Meaning, and Joy.
In this episode of Trend Following Radio we discuss: