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Please enjoy my monologue Five Quick Trend Chapters with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
Want to learn more Trend Following? Watch my video here.
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Hi Michael, My biggest challenge is knowing when to sell; either when the stock keep climbing up or when it keeps sliding down. That said, I have read half of your books and I am considering your Flagship Trend Following system. Regards, Matt
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Those rules solve the issues you describe.
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.
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• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
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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.
Feedback in:
Hello Michael,
I have entered the world of trading since last year during the hard COVID lockdown here in Melbourne Australia in 2020. It was a perfect opportunity to test the water with trading.
Something I was always intrigued to do.
I had a lot of fun during my first week. I grew my account from $10k to 30k without knowing what I was doing. Made thousands in a night with a maximum drawdown over 70% at some point.
It was a roller coaster. Somehow instinctively I was scalping the markets on breakouts. Mind you I didn’t even know what ‘scalping’ and ‘breakout’ were back then.
I was merely trading on gut feelings, picking up momentum as I could sense from seeing the candles expanding rapidly on breakouts and jumping onto it as if I were riding a wave with huge position sizes talking about 1 to 5 CDF XAU contracts at a time on a $10k account. It was totally insane if I look back on what I was doing.
The quick money I made was the worst thing that had happened. The end result of course was a tragedy. I blew my account in the second week plus lost nearly $50k within 2 months.
That really hurt as it was a substantial amount of our family savings with all the unknown with my business during COVID.
However that experience didn’t discourage me from trading, and since then I started researching on different technical analysis techniques, reading all the Market Wizards, Turtle Traders (and now Trend Following) and taking in as much tips from past successful traders on how to trade and exercise risk management.
Then I came up with a trading methodology using Moving Averages and Stochastic to identify start and end trends. Simulating trades for nearly 6 months on demo accounts before recently started trading on a small account.
The answer to your question is, despite having back tested these methodologies and proving them highly profitable on paper (or excel sheet). But when putting the systems into practice, I couldn’t make any profit out of it, despite the system still gives me a good edge of picking up a trend (if I trace back every signal retrospectively). I just couldn’t get my head around why I am not able to profit. Something must be wrong with my execution. I am dying for an answer, as I can see the money there and they can be quite predictable.
Michael, if you do read this email, I would be very keen to have a chat to get some guidance if you do have time.
I am even seriously considering a career in trading as I just love it so much, and potentially giving my consulting business which is generating reasonably good income.
I am quite determined to be a successful trader.
Hope to hear from you.
Best regards,
L.
I don’t know if you are trading as a trend following trader. These resources will answer that question.
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 Steve Burns, the author of seventeen books about the stock market. He is one of Amazon’s top reviewers for books about trading and investing having read and reviewed several hundred books. He has been interviewed for the Wall Street Journal blog, Trader’s Magazine, Chat with Traders, and Michael Covel. He has also been a contributor to Trader’s Planet, Trader’s Magazine and SeeitMarket.com. He lives in Nashville, TN with his wife and business partner, Holly, a Boston Terrier, Chihuahua, and a cat.
The topic is trading.
Jump in!
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Hello, I’m brand new to futures trading and do not even know how to place a trade in the futures market. I opened a trading account with Interactive Brokers with $10,000 USD. I would like to only trade futures as I believe they offer maximum diversification, leverage and are very black and white when it comes to trading. I can follow 50-75 global markets across stock indices, currencies, commodities and interest rates. This is a much more simple and clean way of trading for me as I don’t have to follow hundreds of individual stock charts/prices. Just a few questions before I purchase Michael’s Flagship trading system. If I only want to trade futures will this provide me proper diversification in my portfolio? Or is it absolutely necessary to trade stocks, ETF’s and other instruments? Is $10,000 USD enough money to achieve a properly diversified futures portfolio? Since I don’t know how to place a trade in the futures market I don’t know how much money I will need for each futures contract. Maybe they are too expensive and $10,000 USD will not be enough to diversify properly? Also, with Michael’s trading program is the trading system already designed and backtested? Or, will I just receive information and techniques about trend following but then have to design a trading system on my own? I appreciate you taking the time to respond to my email because I’m willing to study, work hard and apply the trading techniques to succeed.
I provide a system and rules you can use now. FAQs here and capital issues here. Read about markets to trade 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.
Subscribe to Trend Following Radio on iTunes
Please enjoy my monologue Get Inside Your Mind with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
Want to learn more Trend Following? Watch my video here.
Feedback in:
Biggest challenge is finding a correct trend following strategy. I have learnt a lot from taking CMT, now everything just needs to come together and to find consistent trading result.
Regards
Anders
Careful. CMT includes a lot that has nothing to do with trend following.
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.