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“You said you’d be able to help with trend following…”

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Hi Michael,

I’ve seen your content on LinkedIn for a little while now and just started to check out some of your podcasts. In your most recent one you said you’d be able to help with trend following and I’d be very interested to hear what you have to share.

Quick intro on me. I grew up in Arlington, VA and spent a good bit of time in Reston for baseball. I was exposed to the futures markets in 2018 at the Online Trading Academy’s office in Tysons where I interned for a couple of months. Started trading at a prop shop in Chicago after college. I worked a discretionary mean reversion trade there in addition to quantitative research. Ironically, sitting on the mean reversion desk led me to systematic trend following.

Best,
Brendan M.

Email sent. Also start here.


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“I have been trading a slightly modified Turtles system…”

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Hi Michael,

First, a quick thank you. I have bought everything you have written and am working my way through (Turtles, Trend Following, Little Book of Trading so far). I’m working my way through the back catalogue of podcasts too. Side note, know anywhere I can find your film these days? The usual avenues seem to have dried up. I found your work from Market Wizards, which I read prior to my first finance job to give me a broader perspective, and having worked in investment banks, hedge funds, and private equity shops; it is astounding that I have met no-one familiar with your work or the principles of trend following. I guess everyone is too happy to take on accepted wisdom.

Since January, I have been trading a slightly modified Turtles system, having spent 6 months backtesting various timeframes over the last 25 years. We’re down slightly still, but I’ve got into the swing of routine and am focussed on the process not the outcome!

I have a question regarding the plumbing of trend following. Obviously those you talk to generally are part of a large setup (with substantial AUM), or have well established personal firms. What I’d like to know is, how do individuals (just trading for themselves) typically structure their setup? How do you do yours? I mean, do people typically form a company and pay themselves in dividends, or is there some other common legal structure, or do they just take profits as income and get taxed accordingly? I’m UK based if that changes anything.

Would love to hear any insight you may have.

I haven’t taken your courses, but am a ready subscriber to your written works and philosophies. If there is anywhere I can stick a testimonial or similar (I put book reviews on GoodReads to spread the love), I would love to hear what would be helpful.

Thanks a lot!

Oscar D.

You have an account, you trade. That’s it. If you want to start a hedge fund you will need legal and accounting.


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
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Research
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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.

“What’s missing today that the Turtles had in spades…”

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Hey Michael,

Your story hit me—not because of the Wall Street glamour or the Massey name—but because of that precise moment when pretense gets stripped away. I’ve felt that moment. Different context, same weight. And like you, I didn’t come from pedigree or connections—just obsession and an allergic reaction to mediocrity.

Here’s my challenge, and it’s not the usual cocktail of fear, discipline, or impulsive trades. It’s deeper. It’s structure. More specifically: a total absence of credible, direct mentorship in a time when we’re drowning in “information.”

Today, every algorithm-chasing TikToker with a brokerage account calls themselves a mentor. And yet, ironically, despite unprecedented access to data, forums, books, and backtests—I’ve found it harder than ever to find the signal.

I’ve studied the greats—Schwager’s interviews, Kovner, Seykota, even Darvas. But what they had wasn’t just systems. They had environments. Rigid, high-pressure crucibles where skin in the game was non-negotiable, and intellectual honesty was demanded. That doesn’t exist anymore—not in a meaningful way.

I’m not after another course. I’m not asking for a play-by-play. I’m looking for the scaffolding that separates journeymen from killers—something that cuts through the noise and builds actual edge. Turtle-style.

What I’d love to know from you is this: What’s missing today that the Turtles had in spades? What can’t be downloaded, Googled, or ChatGPT’d?

Appreciate your time—and your candor. It’s rare.

Best,
Jan

Knowing that you know, and relaxing. That’s what’s missing. That’s how I help clients.


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.

“Breakout isn’t the holy grail…”

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I read your all of your stuff. I’m aware of all breakout funds. I was simply asking that’s all. Breakout isn’t the holy grail, pal.

This is called fundamentally not understanding what trend following is AND reducing it to the great indicator chase. I’ve known this since you first emailed. Took you a while to finally say it.

Reading is one thing, understanding another.


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.

“My biggest fear is overcoming my instinct to jump back into the market prematurely…”

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I’m reading your book, The Complete TurtleTrader now, and have Trend Following on my table to read next.

My biggest fear [on trading] is overcoming my instinct to jump back into the market prematurely and buy the dip now, when I see that the futures are up, but that the trend is still down. First thing I did this morning was to check out the futures. Up over 300 already. Trend might be turning, but it is still down. Until I see the trend turn positive, ten over twenty, twenty over fifty, I have to keep reminding myself to stay out. I’m not selling anything, because I do believe that this market eventually will turn. But when that happens, I don’t know. Could be today. Could be six months from now.

Nicholas J.

Trend following solves your indecision!


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.

“I am on a quest now to gain as much information on trend following…”

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Hello Michael. I’ve been listening to your podcast for about a year now and have read a few of your books. I feel a commonality with your outlook on things. I am on a quest now to gain as much information on trend following and the markets in general to get out from under the boot of the financial system that everyone is brainwashed to believe in and become free. I’m a sponge ready to absorb any information that you would find useful for someone that is trying to find their way. Thank you for all the great content you have put out over the years.

Chad B.

Sent!


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. 1335: Thinking for a Living with Michael Covel on Trend Following Radio

Episode 1335
Episode 1335

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Please enjoy my monologue Thinking for a Living with Michael Covel on Trend Following Radio.

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