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Do you have any recommendations? I’ve been trading my own account with good performance but want/need more capital to make it full time.
Everyone I’m coming across wants closed-out positions at 5PM everyday which doesn’t really work well with a systematic trend following approach, where I’m in trades for multiple months.
Any ideas? Thoughts?
Travis W.
1. Stop the day trading.
2. Raising first time capital fifty years ago was friends and family. Still the same.
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Hello Michael,
I’m a CPA and I’m in the process of retiring. I’ve always been fascinated with investing and the mental side of it all, the moving of markets, cause and effect, human behavior, etc.
In the last couple years, I was dabbling in S&P futures and was basically using a dollar cost averaging approach and doing well till last year. Of course got smashed and did all the wrong things. Looking back, I can’t believe how naïve I was to it all (still am).
However after that experience, I thought to myself there has to be a better way. Started just looking at annual charts and thought “good lord” the charts all go up and they go down (In a trend), there has to be a trigger. Then I thought, this is so dumb surely there is an AI program that is already doing all the analysis. So I purchased an expensive license to [name]. Using a 20-day Simple Moving Average (SMA). I’ve been able to do some fairly time-intensive historical paper trading and trying to create systems that are not time intensive. I think I’ve come up with a system that will risk a small amount (with stop losses in place), and then I’ve been using a weighted formula for how much I would trade per day inside the trend (probably overthinking it). With this system I’ve gone back 4 years in several markets and have made some money, but sporadically. For example actually lost money in calendar year 2019 with US Dollars. So not sure the system I’m using is very efficient. Am I on the right path or am I missing something significant? With the amount I spent on [name], I’m very reluctant to spend any more without some return on my investments.
In [name], I asked my coach about these trends and he gave me your name and an episode to listen to on your podcast (I think episode 400 with Tom Basso). After that, I was like, “I want to be this Tom Basso fella.” I like to golf and as I mentioned I’m retiring soon so I don’t want to spend all day trading. However I’m very disciplined and would love to run trading systems. That just sounds perfect to me. Set up the systems in the evening and go golfing. Hopefully make some money too.
Thanks for any suggestions you might have.
Have a great day!
Todd O.
Start with all links below. That will get you rolling.
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 Lou Kerner, a Founding Partner of CryptoOracle, a Crypto VC and Advisory firm focused exclusively on investing and advising entities leveraging, blockchain, cryptocurrency, smart contracts and decentralization. Kerner has been a crypto enthusiast, investor, public speaker and thought leader since 2013.
The topic is Crypto.
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Hello Sir Michael,
I have known you first by reading The Complete TurtleTrader book (yellow one) many years ago and right now, I am halfway through with Trend Following book (blue one) and I really believe that our strategies and principles are of the same one and I will learn greatly under your tutelage and also add great value to you.
I am Herald and a momentum trader (similar with trend following). I was aware of the stock market because of my dad when I was 9 or 10 years old. I decided to take this journey seriously while I am taking my bachelor’s degree in computer engineering.
It will be 6 years of trading experience this year with being consistently profitable for 4 years already.
This month I was up by 25% and one of the major contributors is the gold commodity trade that I spotted last December 2022. I traded a local stock that is highly connected with the gold business.
I was also invited several times for TV interviews and also an author of a book.
I wanted to expand my skills and get out of my comfort zone to trade international markets. I believe that by working with you, I add a great value to you and also reach my dream to become one of the greatest traders.
Let me know if you are open to this and I will send you my resume and performance history.
Regards,
Herald T.
Thanks for your note. I only help people to learn via my books, podcast, website and training.
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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Mike,
I listened to the first part of Thursdays podcast. I was going to listen to the rest of it and respond but I was responding in my head already and not paying attention too much to what else you were saying. There’s not much that can get my attention when you’re speaking other than your own words when you’re speaking. But I digress. To use your words, I don’t disagree with your assessment on people “don’t give a shit” and how it progressed that much in that short of time. I wish to offer my insight from my anecdotal life. It’s basic.
I think people have lost faith in the US government. It’s easy to look at the 2020 election and say okay it’s conspiracy theorists. Well it’s a little more mainstream than that. Even if they don’t think something was intentionally orchestrated, something was off.
The majority agree with that to some level or another and the fact that the government is dismissing it altogether is a big piece of the issue. Even if an official investigation showed nothing at least we could say oh they tied. Most republicans and some dems agree to some degree.
The dems who don’t, don’t until you bring up why Bernie Sanders never won a nomination and Michael Moore will say it was stolen. Covid certainly didn’t help either. Half the country didn’t believe the government or media right or wrong.
For the vast majority of republicans, especially those who listened to Rush Limbaugh, already had little faith in the media so it wasn’t that far to make the jump to the government and when they seem, on both sides, to have the media do their bidding it puts them in the same mind.
And then you had the vaccine which it seems, per a recent study, the majority of people feel is more dangerous than the government and media led us to believe.
If you lost faith in your government you either have revolution or anarchy. I don’t think anyone wants to pick a fight so anarchy is what we have. It’s an apathetic anarchy.
After Russia invaded Ukraine and we heard stories of people staying behind to defend Ukraine or coming back after they got their family to safety. The apathy that I’ve seen is nobody would do that in the US.
People I’ve talked to have said they would leave and not come back. Others have said they would just disappear into the Midwest and assimilate to whatever new government was established. There was a day in my childhood and even through September 11th where I die for the US.
I don’t think I would at this point. There’s a lot of people here in the Midwest who will garden, put up solar panels and wood stoves and move away from codependency on others as possible.
This is the country we have now. Even people on opposite sides of the aisle feeling apathy and it’s contagious. If the Keynesian economics of the last 100 years fails due to crushing national debt, the apathy and lack of faith in the US will be nearer to 100%
Whether you think there was interference in any elections or not, or what you think about Covid or the vaccines, there are people who think that way. I remember an interview you did a few years ago about people in favor of free speech unless it went against their values.
I would say this is the results of what that looks like. Whether right or wrong, people want to be heard and not shouted down or called terrorists. But without the right to discord they can never be shown the errors of their way. And maybe they never see the error.
Or maybe they were right. But without the freedom to talk about it you end up with a fractured country. And not all who believe the election was stolen believe vaccines were bad. But for one thing or another, Bernie or Trump supporters, faith in the US government is gone.
The views shared by those who I’ve observed may or may not be my views. But I suspect if there any responses to this on twitter they will prove the fractured nature of where we are as a country. Everything is polarizing even saying ‘everything is polarizing’.
Thanks,
C. B.
Thanks for sharing.
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 No Clue with Michael Covel on Trend Following Radio.
Want to learn more Trend Following? Watch my video here.