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Feedback in:

My biggest challenge that I faced with my trading is to develop mental strength and believe in my trading system while I’m having a loss and do not go out from the trade just before the great run. If you have any recommendation on how to improve this, please let me know.

What strategy and time frame are you doing now?

I never thought that you’re going to answer my email! I love your podcasts and just sent an email as you said in your podcasts since you state that you are going to send a free video (which I didn’t receive yet) and the right steps for trend following. I just started to trade last year. I have been through the IBD CANSLIM approach which is a good methodology for stock picking but time consuming, also part of the buying and selling process is discretionary, so emotions come into the trade and sometimes must be executed during my working day which are both weak points for me. So I decided to search for a trading style that could fit better to my personality and time availability. I was looking for a system on which I can keep all aspects of trading simple, mechanical (no emotions) and invest the least amount of time possible. In order to achieve my objective described above and based on my short experience, I use a very simple system using the 21EMA as my entry and exit point based on the closing price of the day with MACD indicator as confirmation, with just one security which is TQQQ. As you may know this year Tech stocks didn’t go well, so I tried to use other Leveraged ETF’s to keep on the market, but sometimes I made an entry according to my system but after a small shakeout I went out losing the great run. When I made a post analysis of what happened I came up with the following conclusions:

1. I’m using some ETF’s or stocks which are very volatile and the swings are so wide that I can’t stand seeing my account bleeding during the day; then I force the exit, violating my own system. After looking at the closing of the day nothing happened, it was just noise.
2. Sometimes I see a great run happening and I force an entry (since in the model is already crossed up 21HMA) knowing that a pullback could happen, and guess what the pullback appears…. I can’t call it FOMO entirely since the trend is up but I lied to myself that it will never end…

The improvement points that I think that I need to make:
1. Improve the psychological side of trading.
2. Stay with only one security and wait until it works or develop a diversified portfolio with a proper leveraged ETF selection system.

Right now, I want to explore and know more about Trend following in order to improve my current system. And the best starting point is to start with the best book that you can find it: I believe chapter 6 of your book can help me to address improvement point 1. I hope you could give me some recommendations on where to look to improve point 2 regarding the ETF or stock selection system based on market trends.

Let’s reduce this. You need:

• Exact rules for selecting your tracking portfolio.
• Exact rules for entering your trades at the right time.
• Exact rules for exiting your trades with a loss.
• Exact rules for exiting your trades with a profit.
• Exact rules for how much money to bet on each trade.

Don’t have? That’s where to start.

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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
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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:

I’ve read your books Turtle Trading and was awed by what could be done in the market. I’m reading your Trend Following book now ingesting more information to use at my first opportunity. I’m a 60 year old African American male and only wish I had this information 5, 10, or 15 years ago. I would have reached my financial goals and not struggling now about how to pay for my course. Especially since I seem to be more willing to take risk then than now. Nonetheless, I think this is the best financial information I’ve ever come across and hoping that I can teach it to some of my friends and family after mastering it myself. Leading by example is important for me and in getting others to accept the information willingly. This could change the lives of so many people. Thank you for your books and your courses. I will find a way to get this course.

Thanks for the kind words.

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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.

Feedback in:

Hi Mike, Congrats on hitting 1000! A mind-blowing accomplishment. It was a great episode with Jerry (as always), but I have to say I quite enjoyed #999. It reminded me of your many other “raw truth” monologues, one of which I complimented you on, back in 2013 (see below). I’m happy you did have a very fruitful “trip” to Asia and kept the podcast going for all these years. Time sure flies. I’m still managing my portfolio with a 100% systematic trend-following approach, spending only a half-hour or so every Saturday morning to program trades for the Monday open, and very happy with the results. So a thousand thanks for what you do, and here’s to the next thousand!

Thanks!

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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 Paul Nurse. He won a Nobel Prize in Physiology or Medicine in 2001, and has also been awarded the Albert Einstein World Award of Science and French Legion d’Honneur. He has acted as advisor to the Prime Minister on Science and Technology matters, and received over 60 honorary degrees and fellowships from international universities. He is currently the Director and Chief Executive of London’s Francis Crick Institute.

The topic is his book What Is Life?: Understand Biology In Five Steps.

In this episode of Trend Following Radio we discuss:

• Jurassic Period
• COVID-19 Pandemic
• Origins of COVID-19
• Science and Politics
• COVID-19 Vaccine
• Covid-19 Virus Variants
• Human Evolution
• Human Cloning

Mentions & Resources:

• Paul Nurse
• What Is Life?: Understand Biology In Five Steps
• Biology
• COVID-19
• Science and Technology
• Ageing

Listen to this episode:

• Listen to this podcast on iTunes. (Please leave a rating!)
• Listen on Spotify.
• Listen on Stitcher.
• Libysn RSS.
• Download as MP3 by right-clicking here and choosing “save as.”
• Free Video.

Jump in!

Feedback in:

Michael, The biggest obstacle I’ve had in my trading is over trading. I have to constantly remind myself of Jesse Livermore’s rule to sit tight when I’m right.

Your strategy now? Time frame?

My strategy now is to sell my full position whenever the 10-Week Exponential Moving Average Line closes lower than the week prior. I will give my position until around 2:00 PM CST on Fridays to either pass or fail this test. If it’s below, I sell. I devised this test after reading all of Steve Burns’ books, which I otherwise wouldn’t have known of without your podcast. And in conjunction with those books, Ed Sekoyta’s quote, “The trend is your friend except at the end, when it bends.” I will always set up a stop-loss at -5% below the 10-Week Exponential Moving Average as my insurance policy in the event there’s a COVID-19 like selloff such as in March of 2020. I maintain this -5% stop-loss under the 10-Week Exponential Moving Average as it advances. I previously used the CAN SLIM system from Investor’s Business Daily, and would sell when I was up 20-25% and take the profit. After doing post analysis on my trades I discovered I was often leaving a ton of money on the table as many of these stocks would continue going up. My post analysis (which I refer to as my version of poor man’s back testing) by the time the 10-Week Exponential Moving Average bent downward it was well above the price I sold at. I have corrected this by no longer having a price objective to sell at. This has helped me from having numerous sell rules, to just two. It’s easier to keep it simple. Since I have your ear, I came across your podcast while looking for more interviews, insights, etc from Mark Minervini after I read his books. After listening to those podcasts with him I was drawn to your matter of fact, no bullshit attitude. I began bingeing your podcasts from Episode #1 in January of this year. I am currently on Episode #477. Through your podcasts I have nearly 400 books in my Amazon Save For Later queue. Every guest you have on who has wrote a book, I add it to my queue. I also added books from Milton Friedman, Von Mises, and others who have since passed as you have discussed them on your podcasts. I have read two of your books The Complete Turtle Trader, and Trend Following. The Little Book of Trading, will be the next one of yours I’ll read. I have just finished Ed Thorpe’s, A Man for All Markets, and I just started Jack Schwager’s, Getting Started in Technical Analysis. For the record I couldn’t believe the size of your book Trend Following. I figured it would take me a month to read it. I opened it up and read it within a week. I couldn’t put it down. Lastly, when it comes to CNBC, Bloomberg, and the fundamentalists, “People want to be bullshitted”. I can’t take credit for coming up with this quote, but after hearing it, it’s so true. And it’s never more true than today. I know you’ve discussed ‘shifting through the bullshit’, buy in my opinion, that quote is the WHY. It’s why CNBC exists, its why Bloomberg exists. You may have specifically said this as I am still 5 years behind in your podcasts, but every time you rant (I love when you do it), I can’t help but think of this quote. Thank your for your time, and keep educating all of us with your podcasts and the guests you have! PS: Keep swearing…it gives you THAT edge!

Great feedback. Thanks!

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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 A TurtleTrader Addendum for 1000 with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

Listen to this episode:

• Listen to this podcast on iTunes. (Please leave a rating!)
• Listen on Spotify.
• Listen on Stitcher.
• Libysn RSS.
• Download as MP3 by right-clicking here and choosing “save as.”
• Free Video.

Want to learn more Trend Following? Watch my video here.

Feedback in:

Hi Michael, My biggest trading challenge that I find is patience! I often enter a trade and for weeks it bounces around in profit then out of profit then it goes against me to the point where my stop looks like it will be hit, so I exit the trade to take a slightly smaller loss. Then when doing scans and research into next opportunities, I revisit the stock or commodity months or years down the track to find that if I had only held for longer, my original trade would have been in huge profit! I’ve lost count how many times this has happened. I need help fixing this issue. Also I’m struggling to find a good commodities/share broker in one place that I can trade here in Australia. Would you please be able to recommend one to me. I am also struggling to find a trading mentor. I realise that a mentor is busy and that I shouldn’t get something for nothing, but I find it extremely hard to justify paying $10,000 give or take for a course or mentor when I’m trying to use that money to trade with. I have made this mistake several times in the past and have ended up minus the $10k and not very good results to show for my money spent, especially when it takes so long to save in the first place. I find it comforting to write this to you and getting it off my chest, knowing you will read it and hopefully point me in the right direction. I have loved reading your trend trading books.

Thanks for the candid feedback, but don’t my books describe the opposite of what you are doing? Time to reboot.

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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.