Hi Michael, G’Day from Down Under. Hope your day is going well. Thanks for the opportunity to send an email to you. My biggest challenge was getting over the mindset that trend following will work for me. Could I really be successful? Could I really do better than 8 years of fundamental analysis that has returned c. 13% PA trading stocks on the ASX? My former accountant, looked at my returns and proudly said, “You can’t beat the market”. This lit a fire in my belly. I know the answer is yes you can. Being based in Australia, I trade the ASX, because it is what I know (currently). My trend following training here includes Brent Penfold and Nick Radge, both of whom referred to your learnings and experience. I currently trade two trend following strategies, a monthly and a weekly, on the ASX. I am testing another. All of these are long only strategies. If the market is not trending up, then I am not interested in being in it, (I don’t have the capacity to go short anyhow). So, why am I interested in your book and services, Trend Following? To learn new approaches. To add another strategy to my portfolio of approaches. I saw with interest one of your podcast episodes was with Prof Anders Ericsson. I know of his work and have applied those concepts to other areas of my life. I am looking forward to applying the same mindset of improvement with deliberate practice to my trading in my trend following strategies. I’m grateful in this technology era to be able to tap into the wisdom/experience of those that would otherwise be out of reach. Thanks for taking some time to get to the end of my email. Much appreciated, Sean M.
Looking back, the biggest challenge I faced was letting go of trying to build perfect systems. It took awhile to understand that the goal was to build good systems that generalize well and then apply them across many markets. Reading that concept wasn’t enough. I had to witness it. I coded up a version of the turtle rules in metatrader a ways back and then threw it away. Then, one day years later, I found it in an email attachment and ran a backtest. The lesson was in the profits I never allowed myself to realize. Looking forward, My biggest challenge is finding the right combination of markets and time frames I have the margin to trade.
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I don’t do ‘investing’, I never have…it makes no sense to me. I have no intention of putting my money to work based on someone else’s opinion. But I’ve never found a satisfactory alternative…perhaps trend following can do that?
I feel a little late to the game but I am a believer in that we are all lead to water, the timing of which we tend to drink it, is when we get the fill we need.
I purchased your book about 3 years ago and just now that I am 40 years old and have a baby that I am really studying this theory of Trend Following.
I am just an ordinary individual, but I have a passion for numbers. I graduated from a small college with a BA in Finance and am familiar with trading, but it is now that I truly want to dive into this and better myself and make educated decisions trading for my family to have a better life.
I hope you do read this email. One day maybe I will be an example in one of your books.
Just keep going. Anyone can do it. The story of the TurtleTraders.