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Please enjoy my monologue Understand the Game with Michael Covel on Trend Following Radio.
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I’m always open to learn new things and with over 25 years of trading experience and literally having tried hundreds of trading subscriptions by now, I think I’ve earned like two PhD’s in Trading IMHO, so that is why I signed up for your tutorial emails recently (I follow Tom Basso so I listened to your podcasts of when he was guest speaker, so I think I know a little about trend following as you call it), and yes, I have read about the TurtleTraders). So, ease up on me and give me more credit than you have.
Best,
Robert
I see blind spots in your prior emails:
1. Trend followers don’t talk about finding trends.
2. They don’t talk about or use seasonality.
3. 100s of trading subscriptions means a lot of errors — that’s great as long as you know it.
This isn’t personal. I would say the same to a family member.
1. You obviously have to find the trend/instrument that is trending before you can follow it, and I take it a step further and find the beginning (depending on how conservative or aggressive) of the trend when the move is the most momentum. I think this is the difference of semantics/terminology between you and me. Please clarify if you mean something different.
2. Oh well, I’m sorry “they” don’t, they are missing that edge that I have. Like I said, seasonality is just one of quite a few ways of following where the Big Money is moving, and I’m not going to teach it here.
3. No, that’s over 25 years, and I picked the best of the best and put only those in my concrete trading plan, so #3 is invalid pertaining to my trading.Best,
Robert
Start here for clarity.
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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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Michael, I’ve listened to about 25 of your podcasts. Love ’em! Some observations:
i) Your speaking pace is outstanding! You’ve mastered, “If you think you’re talking too slow, you’re right where you need to be.” Keep up the great monologues and interviews.
ii) Taleb had an excellent observation on violence in that throughout the ages most rulers did not die of natural causes.
iii) The [man] helping with lights/studio exhibited the great understanding that the simplest of things are the most substantive things (Christ washed feet).
iv) Young men need to be trained in fighting (Krav Maga, etc). It creates confidence which breeds calmness; “The meek shall inherit the earth” really means “Those with a big sword keep it in its scabbard.” It’s all in the vein of the virtuous keep their evil/violence in check.I would love to see you interview Tom Sosnoff, creator of TastyTrade which is based in Chicago (GMT-5).
Keep up the great work!
John in Ohio
Thanks!
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, Listening to a recent podcast of yours, reminding us of timeless. It made me chuckle. I have been listening to your podcasts for years. I’m not a spring chicken and came across your books many years ago. I spent hours and hours making my own system. I collected the data and back tested as best I could using excel. I traded it live for a while, when one day I accidentally overlapped my system with a Donchian channel on the same screen. It was then I realized that my system was almost identical to Donchian. I then realized that TF is timeless. I also realized that all my work had been done already. It was then I decided to close my system down and find the traders that I wanted to use. I had an idea who I would like, but figured I would research it before jumping in. Your book on Tom Basso cemented who I would be putting most of my funds with. I enjoy all the work that you do. Hell I am not sure why I started this ramble, other than to say thanks. So thanks!
Chris C.
Thanks!
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, In short, I was reviewing charts to get an idea of when trends were ending and beginning. I just keep listening to your book looking for the “GEM”. I think it is right in my face, I just don’t believe it is that obvious. What I have come up with is “Enter when the trend begins, exit when the trend ends”. My challenge now is identifying the trend which I heard in your book is hard to do until you are in it. Nevertheless, this is actually perfect timing as I don’t think day trading is sustainable in my current role at my job. Besides, day trading options has just been one big roller coaster ride down. I think I want to setup an automated system to trade futures, but I need to better define the parameters. Below is my plan for doing this:
Done:
- Identify beginning and end of trend
- Shrimp curling pattern up or down
- Increase in volume
- Trendline break
To do:
- Create some type of alert system to inform you of equities or futures that are beginning or ending a trend
- 10 ema X 30 ema crossover (up or down on the daily)
- Monthly trendline break with a close
- Daily candle break below the 50 ema
- Bearish engulfing, bullish engulfing, hammer or shooting star with volume on the weekly chart
- Review seykota.com page for possible insights
Needs further clarification:
- Automated trading
- How to code for entries and exits
- How to back test strategy
- How to automate trades in various markets
- Small losses are emphasized on, but how do you distinguish a small loss from a drawdown
J. S.
Stop all of this. It’s not trend following. It’s the kitchen sink.
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 Seth Goldenberg, a designer, curator, and entrepreneur who harnesses the power of questioning to catalyze innovation and cultural change. He is the founder and CEO of Curiosity & Co., a one-of-a-kind bookstore, experience laboratory, and design-ventures studio, and the creator of the Ideas Salons, invitational thought-leader retreats that tackle the essential questions of our time. Goldenberg has led high-profile projects with clients such as Apple, American Express, the Oprah Winfrey Network, and the governor of Rhode Island.
The topic is his book Radical Curiosity: Questioning Commonly Held Beliefs to Imagine Flourishing Futures.
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Feedback in:
Hey Michael, thanks for all your insights. I’ve been listening to your podcast for a long time and I’ve purchased your books. Something I’ve been wondering about that I haven’t yet seen in your books (I’m still reading your books, Trend Following, and Trend Commandments, so there’s a good chance it’s in there and I’ll find it), is these top traders, trading client money or perhaps only trading their own money now, like Tom Basso: How much total exposure do they have in their holdings at any one time? Lets say they will risk 2% per trade on any one position. Have you seen that they will typically deploy all their capital / the entire fund into however many markets they’re trading for that program, and have 100% exposure? So at 2% risk per trade that would be about 50 markets they are trading at once in order to deploy the entire account. Is that how they typically do it? Or do they leave some cash or structure their portfolio another way?
Jay A.
You need a unit strategy for money management. There are max unit rules. One unit for 50 markets? That’s not the strategy. Two places to start: here and here.
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.