My biggest challenge is that I work for the Royal Danish Navy and sails in the North-Atlantic, and do not have access to fast internet, only slow slow internet. I need to figure out a system with less time online, and think that trend following could be it.
I once opened a fortune cookie a couple decades ago and it read, “your health is your wealth”. It really resonated with me, as I felt and still feel, that I’m very healthy relative to my family and friends, and it’s how I think about my life in terms of what to reflect on. In this regard I feel blessed. As another author put it, you don’t want to be the richest person in the hospital.
My biggest issue has been the volatility that Trump caused by opening his mouth. Last year I had several options on Amazon. Without any real reason Trump just started whaling on Amazon almost on the daily. Since then I’ve been reading very little and studying much more. My true mistake was that I had too much money in one investment.
1. Some indecision between short term trading (faster signals) v/s long term (slower buy and sell signals). Not sure which gives better returns –> have heard proponents for both but inconclusive in my mind so far. I guess it comes down to personal preference, although would like to know what you think.
2. Which is the best set of indicators: Moving avg crossover (?) if so, the best combination?
3. Have not been able to create a system as I flex between multiple strategies with issue # 1 (short term v/s long term) really throwing a wrench in the whole process.
Look forward to getting some help from a proven expert like yourself.
Mark Minervini shares his time-tested approach for bringing your personal best to everything you do. Whether you are in business, stock trading, sports, or even training for the Olympics, Mindset Secrets for Winning reveals everything you need to know to perform at the highest level, and succeed at realizing your dreams. Mark shares his “secret” Empowerment Principles that propelled him from a junior-high school dropout to a multimillionaire Wall Street sensation. His incredible journey is one of the most amazing success stories in America. Inside this book, Mark reveals the technology and tools that you can use immediately to CREATE YOUR OWN SUCCESS and ACHIEVE YOUR GOALS. Transform your thinking with strategies used by world-class athletes and coaches, elite performers in business, and exceptional winners from all around the world. Develop a winning mindset and ACE EVERY CHALLENGE! Inspiration, knowledge and real-life experience – everything is here in the ultimate personal empowerment guide to human excellence. Mark Minervini is one of America’s most successful stock traders. He’s a former U.S. Investing Champion and the author of the international best-sellers Trade Like a Stock Market Wizard and Think and Trade Like a Champion. Mark’s journey from rags-to-riches is a remarkable and inspiring success story. His success, books and performance coaching have become legendary around the world.
In this episode of Trend Following Radio:
Mindset Secrets for Winning: How to Bring Personal Power to Everything You Do
I’ve written before. Wanted to say I’ve continued to listen to your podcast and am kind of blown away by how many there are and how good they all are. You’ve got awesome guests and you’re a talented interviewer. So thanks for this free podcast! It’s obvious you love it and your passion comes through to the audience.
A question for you: in the intro to the podcast, you say that you envision a time when we can make money in up, down or sideways markets. Does the “sideways markets” part refer to diversification (if one market is going sideways, another one will be trending, so you can still make money if, say, the S&P 500 is flat). Or is there a trend-following strategy for sideways markets?
Anyway, thanks again for making my daily commute interesting!
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The classic text ‘Reminiscences of a Stock Operator’ by Edwin Lefèvre PDF
“If you want the chance for big returns in bull, bear and black swan markets, THIS is where you want to be. But this ain’t clipping coupons. No risk, no return.”