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Trying to find a systematic approach that has a reliable edge upon which I can define the probabilistic outcomes (win rates, profit ratio, drawdowns etc). I can code and backtest strategies (a fairly recent addition to my toolkit) so am very much still in exploration vs exploitation mode when it comes to trading. It’s challenging (understatement) to both limit drawdowns and maximize returns. I am more interested in limiting drawdowns and having a smooth equity curve rather than pure max profit optimization which may (likely) requires more volatility and enduring deeper drawdowns.

Why do you want smooth? Life is not smooth. Markets are not smooth.

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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.

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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, my biggest challenge has been filtering out noise, and not just market noise on lower timeframes. I began trading 8 months ago and relatively quickly found my way totrend following. There are so many articles and videos online that are 90% about ‘day trading’ and that’s where I began. I can proudly say that I have not blown one account, and I owe that to trend following. I first discovered Jesse Livermore and then Ed Sekota, Richard Dennis and yourself; I bought your best selling classic and my trend following journey began.

But I hope you stopped the day trading?

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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 Michael,

My biggest challenge in trading has been precisely to stay in trends. I have been trading for some years now but I have mostly traded at discretion, which sometimes means that there are no clear rules, and emotions have a cost in my trading. I have experienced everything in the market over the years… big losses; account wipe outs; I wait on a trade and price reverses; I decide to cash in a trade so the price doesn’t reverse on me like the last time, only to see the trend continuing and realizing I cashed in very early in the trend. I tried trend following for some trades but I didn’t stick to it as my one trading system, as I sometimes needed to cash in to cover up for previous losses and again I was trading at discretion. I got your book so in a few days I’ll be reading all about it. I hope we can stay in touch.

Regards

Trend following can give you a clear alternative to that. Read here.

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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 Robert M. Rosenberg, the Chief Executive Officer of Dunkin’ Donuts from 1963 until his retirement in 1998. Under his leadership, the company grew from a regional family business to one of America’s best known and loved brands. Rosenberg received his MBA from Harvard Business School, and in just weeks after graduating at the age of 25, assumed the position of chief executive officer. Dunkin’ Donuts was a publicly owned company from 1968 until 1989 and earned a reputation for extraordinary stockholder returns. In that 21-year period, it earned its investors a 35 percent compound rate of return. After retiring from Dunkin, Rosenberg taught in the Graduate School at Babson College and served many years on the boards of directors of other leading food service companies, including Domino‘s Pizza and Sonic Restaurants.

The topic is his book Around the Corner to Around the World: A Dozen Lessons I Learned Running Dunkin Donuts.

In this episode of Trend Following Radio we discuss:

• History of Dunkin Donuts
• Food Service Companies
• Business Strategies
• Planning, People and Product
• Define Reality

Mentions & Resources:

• Robert M. Rosenberg
• Around the Corner to Around the World: A Dozen Lessons I Learned Running Dunkin Donuts
• William Rosenberg
• Dunkin Donuts
• Malcolm Gladwell
• David Halberstam

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.

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Feedback in:

Stay with a position. Believing trend will continue. So many times I’ve been in a profit just to watch the position turn. I exit and market with thicken up and continue in my anticipated direction. What it boils down to is believing in my position so I will jump around on different time frames to see if I could have taken a small profit on my position; exit market and re-enter. Hope that makes sense. Thanks

That sounds very discretionary?

Let’s switch that to trend following. Start here and here.

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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 Don’t Believe the AI Hype 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,

Initially, my biggest challenge was saving up the funds to trade. Presently, I am using TD Ameritrade Think or Swim and have challenges deciding to place stop losses on an order or just use a mental stop loss during day trades. Lastly, exiting a trade too early has been a small challenge as well. For example, I purchased AMD for $55 and sold at $57.47 and shortly after it gapped up to $80. I have gotten over that one and have moved on. I hope to learn more from reading your books and following your podcasts. Have a great day and thanks for your time.

Best
Matthew

I would like to see you go full system like I describe here.

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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.