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“Getting the courage to do these things will be the battle…”

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I’m just starting out after watching Adam Khoo’s “Trade Like a Casino for Consistent Profits” on youtube. I’m a 23-year old federal government mail clerk on a career path with little to no room for advancement, so I need to increase my income. I actually started out watching Jaspreet Singh’s entrepreneurial and investment videos and Adam Khoo’s videos came up as suggested, so I started listening to them while I was doing other things around the house. Before that trading seemed just a crap shoot or something only people chosen to work in the CME could make money doing, so I never considered it. But after listening to several of Adam’s videos I decided to sign up for one his courses on his website and started a gofundme page to get the $1,500 to do it. But while I’m waiting to come up with the money to take his course, I’ve listened to Alexander Elder’s Trading for a Living a few times on youtube and purchased the hard cover of The Complete Turtle Trader and Trend Following off of Amazon and began reading the 2nd one.

Oh, I just read your question again. My biggest challenges I’ve faced trading have been my initial perception of it as something only an elite few got mentored in and shown how to make money doing it and that it took millions of dollars to do and coming up with money to get started. I did start a Robinhood account with $300 though but their customer support was so horrible I thought what if I had thousands in an account with them and needed help? So I withdrew my $300 bucks. Plus I’m not a hot shot MBA or math guy fresh out of college with a 4.0 GPA who people would hire for trading careers. Man, I can’t keep to a topic can I? So my biggest challenges have been my own perceptions, lack of information and lack of mentors I guess.

Go through my world. My books. My podcast. All of my website. I can help.

He followed up.

Michael, the following on your website is golden!:

What are some ways that I have learned about the right direction?

  • Bring joyful, imaginative and impassioned energy every day. Don’t fake it.
  • You don’t need to be big to be good, you need to be smart.
  • When there is no one there, insert yourself. Take over.
  • Engage the world as if your life depends on it.
  • Nothing is more important than transforming someone.
  • Have a vision grounded in your uniqueness.
  • The race winner is often curious and slightly mad.
  • Dry obligation in life will figuratively kill you.
  • No one will give you permission. Seize the mantle.
  • If you can’t solve a problem you are playing by the collective’s rules.
  • Hard work, sustained concentration, and drive are the so-called secrets.
  • Winners understand sunk costs and opportunity costs.
  • Plan to win, prepare to win and have every right to expect to win.
  • It’s in your power to change your belief systems. No one is stuck. Be unstuck.
  • Winning is never about your limited resources, but rather always about your unlimited resourcefulness.
  • By not questioning the world you always lose.”

Getting the courage to do these things will be the battle. Minus “Hard work, sustained concentration, and drive are the so-called secrets.”

Thank you for creating your website and making all your information available!

You are welcome!


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.

“Great brain flossing…”

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Really enjoyed your last podcast about Cramer and yoga, which I believe is the perfect addition to systematic trading. Not only it’s great brain flossing but also a good way to being in the moment and to letting go of any futile predictions. If you happen to be in HK end of this month then would love to casually meet up! Cheers!

No HK yet. But China in May!


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.

Ep. 746: Trend Commandments with Michael Covel on Trend Following Radio

Trend Commandments with Michael Covel
Trend Commandments with Michael Covel

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Please enjoy my monologue Trend Commandments with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

Listen to this episode:

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

“I drank so much Covel juice my wife thought I was cheating on her…”

Feedback in:

Hey Mike,

I just wanted to let you know your books and podcasts have really changed the way I look at life. The interview you did with the black jack player had a powerful message there that I received loud an clear, but to honest it took awhile for me to develop the proper mind set in orders to get the message. I read and listen to your stuff over and over and over. I drank so much Covel juice my wife thought I was cheating on her, just kidding. I want to thank you deeply and let you know I’m doing my part in supporting you by telling my friends to buy all your books. When is the next book coming out?

Sincerely
[Name]

I am authoring a foreword for Larry Hite’s new book 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.

“Biggest challenge? History…”

Feedback in:

Great question, sorry for the long answer.

Biggest challenge…history: I am a relatively smart guy, MBA finance, Retirement Plan Consultant/RIA therefore I used to “invest”, not trade, based on fundamentals and experienced several falling knives, as well as the usual emotional biases, sell winners too fast, hold losers too long. I finally learned that knowing a lot about stocks and markets has very little to do with investment success, might even be a hindrance. Moreover, it has been an expensive lesson.

In the process of moving to technical trading, but still took some unnecessary losses in 2018 by not having stops in place and holding a few losers too long. My biggest challenge is firming up “trading rules” to establish a stop limit up front on every trade, and exit-profit target price, or sell 1/2 at x price and continue to hold.

Have had some informal advice from a good friend who is an experienced trend follower trader, but more tips than details on his methods.

Two objectives for me are:

1) Develop firm rules based trend strategy—discipline.
2) Test strategy over time and track results. Make changes to strategy as needed, but only after proper time frame and evaluation of results. Lastly, KISS, simpler is probably better, at least in early stages.

Tracking results and getting feedback from market seems to be the key. If strategy is not working: is it the rules the trader is using, or the lack of precision and discipline in following the rules? In the past, have been too emotional because I like a companies potential for long term success or whatever.

I like what I see so far from your website, and plan on listening to several podcasts. My copy of your book “Trend Following” arrives tomorrow.

Thanks Michael, looking forward to taking the course.

[Name]
Northfield, Illinois

You are welcome. A good starting place.


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.

“Biggest Challenges? Timing and Following a Consistent Approach…”

Feedback in:

Hi Michael,

My biggest challenges as a market participant have been 2 things. The first has been an inability to follow a consistent approach. Historically, I have been generally a fundamentally driven discretionary investor in equities and I have found it to be too restrictive as I have been more of a value investor. As a consequence, I have missed out on being able to invest in some of the best companies in the world as they have been more expensive but yet they have delivered great returns in many cases. This has caused me to chase them sometimes and generally, this has lead to poor results. I am interested in being able to layer on a more systematic approach to equities. My second issue has been timing. I have realized losses from positions many times due to investing in the wrong market phase. I would like to be able to have a better system for knowing when the time is right for the highest probability of success – both long and short. I hope this helps and thanks for the wonderful work you have done. I am currently reading your tremendous book!

Thanks again,
[Name]

You are welcome!


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.

Ep. 745: Dana Cavalea Interview with Michael Covel on Trend Following Radio

Dana Cavalea and Mariano Rivera
Dana Cavalea and Mariano Rivera

Subscribe to Trend Following Radio on iTunes

My guest today is Dana Cavalea, the former strength, conditioning and performance coach for the New York Yankees and author of, “Habits of a Champion, Nobody Becomes a Champion By Accident.” He started in baseball as an underperforming player, knowing he would never make it to the major leagues. In 2002, at 19 years old, he was given the opportunity to be a towel/weight room cleanup guy for the Yankee’s – he quickly jumped at the chance.

The topic is his book Habits of a Champion: Nobody Becomes a Champion By Accident.

In this episode of Trend Following Radio we discuss:

  • Importance of routine
  • Derek Jeter
  • Talent vs. work ethic in pro sports
  • Science behind training
  • Yoga
  • Mindfulness
  • Meditation
  • Downshifting the nervous system

“Focus on the process and let the results create themselves.” – Dana Cavalea

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