“This is probably one of the greatest testimonials you could get for TurtleTrader…”

Feedback in:

Hi Michael,

Since you read all emails (proven to me when I first started following you) I’ll do my best to be brief, but this is important and hope you will read to the end (no need to respond just think you’ll find it interesting).

This one [post] in-particular (about the women in prison reading TT) was put off numerous times (thought “well, women in prison may be desperate for information – might be ‘opportunity seekers'” etc.) then I read it. This really impacted me. Allow a moment to rewind to apply some context as to why.

In a past life I worked in public service (I won’t say what, where or when). My path constantly crossed drug dealers (though, to be honest, not many female types.) This part of my work was as unsavory and not glamorous as one would imagine. Every derogatory label you can affix to these dirt-bags would not only fit but be entirely appropriate except ONE: They were anything but idiots. They had to run an entire operation (and in some cases many separate operations) just like any business that expects to make a profit, keep their people happy and continue to grow all this while trying to NOT GET KILLED by rival “business men.” Think about that for a moment. If you run a company the worst that can happen is you go out of business, declare bankruptcy and maybe hang your head in shame for all the people that were counting on you (employees, family, friends etc.), but you DON’T have to worry about getting killed! The point being that dealers not only are NOT idiots but can’t afford to be idiots and in fact have to be smarter than many top level execs/entrepreneurs etc because if they lose, they die.

So what’s my point in all of this? This is probably one of the greatest testimonials you could get for TurtleTrader (in fact, my route is learning via Trend Following so can’t help but wonder if I should switch my how-to to TT). These women aren’t going to recommend some b.s. or be swayed by flashy, slick talkers. For them it makes business sense or it doesn’t.

That’s all. Just wanted to mention this is actionable info/testimony and good on you for the donation makes me want to do the same.

Be well…

J. C.


Ep. 800: Joel Peterson Interview with Michael Covel on Trend Following Radio

Joel Peterson
Joel Peterson

Subscribe to Trend Following Radio on iTunes

JetBlue Chairman Joel Peterson and Michael talk through the playbook for establishing and maintaining a culture of trust that breaks down the operational silos and CYA mentality that plague many organizations.

Trust is the glue that holds an organization together. It turns deflection into transparency, suspicion into empowerment, and conflict into creativity. With it, a tiny company like John Deere grew into a worldwide leader. Without it, a giant corporation like Enron toppled.

How does it feel to work for a firm where leaders and colleagues trust one another? Freed from micromanagement and rivalry, every employee contributes his or her best. Risk-taking and innovation become the norm. And, as Peterson notes, “When a company has a reputation for fair dealing, its costs drop: Trust cuts the time spent second-guessing and lawyering.”

With The 10 Laws of Trust Expanded Edition in hand, you’ll be able to plant the seeds of trust—and reap the rewards of reputation, profits, and success. This fully expanded edition includes a powerful self-assessment tool for organizations to evaluate their culture of trust and discover areas for improvement. Peterson has also added rich new case studies and chapters on the theme of betrayal, including how to manage and guard against it.

Biography: Joel Peterson is the chairman of JetBlue Airways and the founding partner of Peterson Partners, a Salt Lake City-based investment management firm. Joel is on the faculty at the Graduate School of Business at Stanford University and has been since 1992. After three careers, four decades of marriage and seven kids, and demanding roles as CFO, CEO, chairman, lead director, adjunct professor, founder, author, entrepreneur and investor, Joel is often sought as a mentor and coach by leaders and aspiring leaders.

In this episode of Trend Following Radio:

  • The 10 Laws of Trust

Mentions & Resources:

“I am practicing trend following as a lifestyle and and in my little portfolio (for now)…”

Feedback in:

I am 22-year old university student currently residing in Hungary.I read your books and the Trend Commandments and your podcasts stood out as my personal favorites. I am practicing trend following as a lifestyle and and in my little portfolio (for now). Soon the profits from my self-made trend following system will enable me to sign up for your flagship product.

Okay enough about that. I am grateful for you and will soon hopefully be honored to meet you in the near future..

I just thought of sharing this amazing illustration of nature’s trend following system in action. I found it very entertaining.

Happy Friday!
Ernest M.


Ep. 799: Paul Gulino Interview with Michael Covel on Trend Following Radio

Paul Gulino
Paul Gulino

Subscribe to Trend Following Radio on iTunes

Paul Gulino believes in Hitchcock’s adage that “films are made on paper.” Although students may obsess about a film’s look, all of the visual elements, he says, function to enhance the story. And that, ultimately, comes from the mind of the screenwriter.

In spite of the fact that there seems to be a screenwriter behind every corner (in California, at least), screenwriting is something of a lost art, Gulino maintains, having seen hundreds of flat screenplays as a story analyst for Showtime Entertainment.

Honing his own skills through writing for the theater and practicing the craft as taught by Frank Daniel and Milos Forman, Gulino secured an agent with William Morris on the basis of his thesis script. With that “real world” confirmation in hand, Gulino went on to write and see produced features, plays and comedy sketches.

Screenwriting, he says, isn’t a craft you can learn from a book. “The best way is to learn from someone who knows the craft, so you can see how theories can be applied to your own work.” There must be something to that. Or at least it’s worked for screenwriter Paul Gulino.

Paul and Michael go on the film-making journey!

In this episode of Trend Following Radio:

  • Screenwriting
  • Screenwriting Theory
  • The Science of Screenwriting

Mentions & Resources:

“I’m thinking about making the jump now and figuring things out as I go…”

Feedback in:

Hi Mike,

I’ve been listening to a lot of your podcasts recently, and I’m also reading Trend Following. I just listened to Episode 74 and the end of that episode hit on a topic I’ve really been struggling with. I’ve been working a desk job over the past year and I really want to quit. The work is a waste of time. I’m developing a trading system and an e-commerce business, but my job is my only source of income. I’m thinking about making the jump now and figuring things out as I go. I’m unsure about doing this because I need money for bills. Should I quit now or wait for my businesses to produce income? I’m on the fence, I want to quit as soon as I can. I’m 23. Also, I appreciate all the resources you’re providing for free (ie. Podcasts and your websites)

Thank you,
Greg D.

Read Linchpin by Seth Godin. First step.

“I’m still amazed that trend following doesn’t get the respect it deserves…”

Feedback in:

The first thing I wish to say is that I really appreciate that you do read all of your email. What I didn’t expect was such a prompt personal response, thank you for that.

My name is Mark [name], I found your excellent trend following Las Vegas presentation on the [name]. My last blunder was about four years ago when I subscribed to an (expensive) options trading service named [name]. The marketing was very good and the back test looked spot on. So I jumped in with both feet. I quit using that after losing hundreds of thousands of dollars. I had to much faith in this outfit and made big bets, I paid for that error in judgement.

Thanks for your very valuable time, Mark

More feedback:

Hey Michael,

I’m sure you receive a lot of correspondence with regards to your amazing work so you may not remember me. I joined the trend following course in April and can honestly say the short time it had taken me to study and grasp will be the most impactful set of rules, not only from a trading aspect, but towards life in general. I’m still amazed that trend following doesn’t get the respect it deserves because once you see it you can’t unsee it. Over the last 5 months I’ve had approx 150 trades. What those markets were I couldn’t tell you as the stock, commodity or currency doesn’t concern me as long as in my portfolio I get a signal to buy/sell I have the rules in place to pull the trigger. Out of those 150 trades only twice have been able to place the 5 units on and then wait for a break of the 20 MA. Do I wish the trend moved for longer than it did? Of course but I just take what the market gives me. Do I wish I didn’t have as many losing trades? Not really because I’ve measured volatility and feel in control of the only aspect I can control and that’s my losses. How do I cope with seeing my equity at one point almost reach 60% return to slowly over weeks dwindle back down? If the mindset is to watch a lot of profits disappear more often than not then that’s what I’m prepared to do in order to catch the next trend. I never feel tempted in the slightest as it’s the game we are playing, I put it out of sight out of mind and the best way to make money over the years will be to follow the system, sit on my hands and take what it gives. Thank you for everything and also the great content on the podcast that for me personally is truly life changing not just for me but for generations to come.

Thank you.

More feedback:

In a firm of about 800 advisors, I seem to be the only one still who uses Momentum. The rest sell MPT, just like all the Big Five Bank (Canada) brokers. I used to be one of them. My Branch Compliance Manager, although supportive of my Trading, emphatically says “I don’t want to learn anything new”, just like the rest of the Branch.

Thanks for all of the feedback!