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Ep. 732: Speculative Wisdom with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Speculative Wisdom with Michael Covel
Speculative Wisdom with Michael Covel

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Michael takes a journey through the wisdom of Dickson Watts.

“In practical life we are compelled to follow what is most probable; in speculative thought we are compelled to follow truth.” –Baruch Spinoza, The Letters

“Most areas of intellectual life have discovered the virtues of speculation, and have embraced them wildly. In academia, speculation is usually dignified as theory.” –Michael Crichton

“There can be a reserve demand for a depletable resource, just as there is speculative reserve demand for any other stock of goods on the market. This speculation is not simple wickedness, however; it has a definite function, namely, that of allocating the scarce depletable resource to those uses at those times when consumer demand for them will be greatest. The speculator, waiting to use the resources until a future date, benefits consumers by shifting their use to a time when they will be more in demand than at present.” –Murray N. Rothbard, Man, Economy, and State / Power and Market: Government and Economy

More.

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“If we can admit that we do not know something, then we can learn anything…”

Posted on by Michael Covel

Feedback in:

Michael,

I have taken your advice again and have not regretted it! I started a regular yoga practice a few months ago and I am seeing and feeling the benefits. I have wanted to do this for some time but finally got going. The instructor of the class I am taking likes to do a reading each class. This particular reading stuck with me and made me immediately relate it to trend-following and some things you have said before in your podcast. I feel like you can replace yoga with trend-following.

Meditations on Intention and Reading by Rolf Gates – Day 129 (p.120)-2nd paragraph:

“It seems a simple enough thing to say, but really it’s the hardest part of coming to yoga. If we can admit that we do not know something, then we can learn anything. If we cannot admit that we do not know, we will remain blind to what we could learn. I think we are afraid to say “I don’t know” because we think in terms of black and white. Either I say I know and I retain the power of choice, or I say I do not know and I give my power away. In this scenario, retaining choice seems preferable even if it is at the expense of remaining stuck in a life that does not work. What yoga offers is another option, one in which learning does not degrade the learner, nor does it take away her power of choice. In yoga, learning happens by degrees, and each degree is another turning point in the student’s life, another moment of choice.”

[Name]

Nice!

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“The last part of the interview has me a little worried about you…”

Posted on by Michael Covel

Feedback in:

Hi Mike,

I’m responding to your last episode #729 with John Lin. Very interesting conversation. I’m a tech guy but he’s way over my head. I understand his terminology but don’t quite understand how he trades. I guess it’s like “scalping” in the computer age?

Part of me thinks this should be illegal because there is no way your average trader (even a professional) can compete with him. But I guess if he’s not moving the market that much, it doesn’t matter.

The last part of the interview has me a little worried about you. No, nothing creepy about it in the sense of meeting women but in a Big Brother sense. First of all, I don’t think the tech you were talking about is necessary for people to meet each other. After all, there are plenty of dating sites and apps like Tinder.

What has me worried is how you seem to want to embrace widespread use of this kind of tech, like China is doing. You said that with it, bad actors get punished and good actors get rewarded (and this is not the first time I’ve heard you say this). The problem is, who’s deciding what is good and bad? After all, I’m sure that China’s government thinks anyone who toes the party line is a good actor, and anyone who disagrees is bad.

As a libertarian thinker, I can’t see any good coming from a system like that and I still like my privacy. If that’s the way of the future, I may have to start wearing a mask everywhere and changing up my walking style. Either that, or move to some remote island (with a beautiful girl of course).

[Name]

The tech I talk about?

It’s not going to be a choice.

That’s my thinking.

It’s coming.

Tinder will look like pong before it’s over. I can see that as good and bad, but it’s coming.

Same if they offer bionic chip implants or whatever. We can Luddite it, but it’s coming.

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.

“With some patience, discipline, time, and persistence, who knows what can happen…”

Posted on by Michael Covel

Feedback in:

The biggest challenge I have faced with trading is fear. It’s stopped me from ever trading in the first place. I haven’t ever traded because of my belief that I need a lot of money to yield the results I’m looking for. I’ve always been held back by the phrase “it takes money to make money”. Since I have very little money I’ve never actually taken the plunge into trading. But that’s just an excuse.

Oddly enough I’ve managed to do this while at the same time holding the belief that I could be a successful trader. The concept seems simple enough. Buy low, sell high. Look for channels, triangles, hook reversals, etc. all those patterns representing a different human psychology of the market make sense to me. Everything you need to know is in the chart.

I haven’t read your books yet (I purchased two of them on Amazon today) so I’m not sure what “trend following” is but I know it’s not based on fundamental analysis and I believe it employs the use of charts. My gut tells me it’s something I need to hear right now at this exact point in my life. I’m 40 years old, barley making six figures with a family and living in Southern California. That sixth figure doesn’t do me many favors in my part of town. I have a 401k but I rent a town home and I live paycheck to paycheck. I have a job I like and I’m creating a better life for my children than I had growing up, but it’s not enough for me. I don’t just want to get by anymore. I want to make a difference. I don’t have much money to start but I know I can start putting $100 per paycheck into an account and start small, all while practicing and studying on paper. With some patience, discipline, time, and persistence, who knows what can happen.

I look forward to reading your books.

Thanks
[Name]

Thanks for the feedback.

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. 731: Kyle Nel Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Kyle Nel
Kyle Nel

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My guest today is Kyle Nel, the CEO and co-founder of Uncommon Partners, served as executive director for Lowe’s Innovation Labs, co-creator of Neurons, Inc., sits on the boards of various emerging tech companies, and a faculty member at Singularity University.

The topic is his book Leading Transformation: How to Take Charge of Your Company’s Future.

In this episode of Trend Following Radio we discuss:

  • Strategic thinking
  • Creating narratives in business
  • Incremental thinking
  • Breaking bottlenecks
  • Linear paths
  • Exponential paths
  • Neuroscience
  • Behavioral science

Mentions & Resources:

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Michael Covel’s Mind Food for Thought: January 24th Edition

Posted on by Michael Covel

Food for thought:

Enjoy.

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. 730: Is It Reasonable with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Is It Reasonable with Michael Covel
Is It Reasonable with Michael Covel

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

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