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Please enjoy my monologue Algorithms, Negotiation and Persuasion with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
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Dear Michael,
Thank you for your email. Have just read your book “Trend Following” and it is an excellent read. I have been trading in a very small way for about 9 months, following the No-Nonsense Forex channel on YouTube. As I’m sure you know the channel focuses on trend trading and the mentor, “VP”, describes himself as an “indicators guy”. Result: not only do I have 4 or 5 indicators on the chart at once, but there are also dozens of others out there that in all probability do the same job. I now have a suspicion that most if not all of them must in some way be based around moving averages, which in turn relate to price. My biggest problem is that despite all these indicators I am no nearer answering the question: what does price mean – what does the price tell me about what is happening in the market? If price is the best indicator of all, what is the point of all the others? I want to know how price shows me what is happening and how to trade. I have the feeling that this requires a deeper understanding. I want that understanding. I want to trade as a professional would trade (I am retired now but still have my faculties – as far as I can tell!). I got your name from Larry Connors’ book “Sell the Greed and Buy the Fear”. Some nice short term strategies there which I am testing out.
With best wishes,
Charles
There is no point to the other indicators. The other indicators all purport to predict. That’s all bullshit. Price is not prediction. Price is reality.
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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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Hi Michael,
My biggest challenge is to find the right entry. Often I thought I joined the trend and the stock just turned against me almost immediately and my option went to zero.
Thank you
Warren
But exit is not important too?
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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Hi Micheal,
Good to know you personally. Read your emails. I recently started trading and began to gather information from any and all sources to better inform myself on the subject. This effort led me to some of your books which in turn led me to trend following. I’ve found my biggest challenge is to be the emotions in trading. They’ve kept me from entering or even staying in winning positions. I believe this is why I’ve gravitated toward trend following where I can trust a system and allow it to guide my decisions cutting out as much human error as possible. I suppose my next step will be trying to develop and test a system of my own. Not quite sure about the process, but every journey begins with the first step and your work has provided the direction. Thank you sir, have a great day.
Jesse T.
Keep going!
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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Hi Michael,
It seems easy to spot a trend after it’s ended. But I still have not seen or heard from books and podcasts a formula to detect the beginning and end of trends. Also, I hear people saying stocks are way too correlated to the overall market to be useful for trend following, making the turtle trading rules obsolete. (I’m assuming turtle trading is identical to TF?) My concern is that I’m an absolute beginner. Arguments from both sides of the aisle sound legit to me.
Start here.
Where is the argument against that?
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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Hello Michael,
I am reading your book Trend Following, the fifth edition and I am really enjoying it. From reading the first few chapters I was learning that trend following has greater upside volatility and less downside volatility because traders have set up strategic stop losses to limit the downside. Therefore with these rules in place to protect their capital, I was surprised to learn that there are inventive drawdowns in even the most successful trend traders like DUNN Capital. I am confused about why these trading systems wouldn’t be exited earlier as I thought one of the major goals of trend following was letting your profits run and cutting your losses short. Finding drawdowns of 43%, 40%, and 63% in DUNN capital’s performance does not seem to be cutting losses short. Are these drawdowns more unique to DUNN capital as they are going for absolute return? Or is it inevitable that there are going to be large drawdowns in every system and something every trader has to be comfortable with? I would really appreciate any response.
Best,
Noah
Where do DDs come from? Many small losses that add up. Not from one market alone dropping 50%.
Make sense?
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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My guest today is Michael O’Leary. He was on the founding team of Bain Capital’s social impact fund. Previously, he invested in consumer, industrial, and technology companies through Bain Capital’s private equity fund. He has served as an economic policy advisor in the United States Senate and on two presidential campaigns.
The topic is his book Accountable: The Rise of Citizen Capitalism.
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