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Feedback in:

Mike,

First off, thank you for all the time and effort you put into the work you do. Love your books and your podcast, as they are very informative. I have a question, how do trend traders in the futures market maneuver gaps after settlement? Are they closing positions at end of day and reopening or do they let it ride? I trade crude oil and have seen some pretty nasty gaps at times. Although be it rare, they could lead to a sizable loss. Thanks again.

Trend followers are not one market traders.

They have exits based on price.

They have risk management based on price.

Gaps are built into price.

Right?

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Feedback in:

Michael, On May 2, 1988 a call took place in one of the Drexel Burnham Lambert conference rooms in Mike Miken’s Beverly Hills offices. Rich Dennis’ first (and I believe only) public futures fund had experienced significant losses and the call was a Q and A to see if the fund was going to remain open. I was in the room and recorded the call on my trusty Philips microcassette recorder. In one of your recent podcasts you mentioned listening to old tapes of some of the legends, and knowing of your deep involvement with the Turtles, I thought you might enjoy it. I got it into .mp3 format – it is about 40 minutes long ad about 40mb. If you’d like it, please reply and I’ll send you a Dropbox link so you can download it. I haven’t cleaned up the audio, but it is listenable. During most of the 80’s I was employed in Drexel Burnham’s Beverly Hills office… In the early days of managed futures that led to meetings with Richard Sandor and Richard Dennis and the establishment of the Dennis Preferred Futures Fund… I knew most of the characters involved in the fund and learned more in a couple of years than in decades forward. Now I’m one of the old guys (well, not that old!) you sometime reference – I still manage some money for a few long-time clients, largely to keep my brain active and because I enjoy the interaction and trading without the stresses of my earlier life.

I’ve enjoyed your podcasts for many years – they’ve been beneficial since I’ve been able to listen to many amazing minds, hear your insightful questions and even reach out to some of your subjects.

I have absolutely no agenda, and hope you’ll find something of value in the Dennis tape. Thanks for the work you do!

Regards,
[name].

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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.

A trader who wants to trade pullbacks writes:

That’s the point I still don’t get about Trend Following and the breakout rules. It should be natural to always look to get better prices.

Joao B.

Better prices? What does that mean?

I agree that there is no evidence that pullbacks work. Even because the definition of pull back is not clear. Pull back is a retracement to some fibo levels, to a level of support and resistance (and if so, which level to choose?) or even the use of some indicator that will give enter signals when it is at extremes (and the problem here is that in a trend, such indicators may never go back to extremes).

Pull backs, retracements, support and resistance, etc. are bullshit. Where are the pull back, retracement, support and resistance legends? They don’t exist.

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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.

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Feedback in:

Hi Michael,

Hope you are well.

I think about emailing you from time to time but this one really compelled me to. There is a macro investor with a podcast [name] Show. His name is [name]. On this past Friday’s podcast number xxx with another macro investor [name], there were several times when they talked about when to get out of big moves. They gave examples from the past when they got out too early. One instance, [name] asked [name] specifically when to get out. His response was, “somewhere in the middle.” These are very smart men but it seems they have no knowledge of trend following. What is somewhat odd is that [name] has referenced the Market Wizards books several times. You can listen to the podcast if you want (maybe use it for content) but here is the kicker, at the end [name] is promoting an 8-hour seminar on Uranium investing. I am thinking, 8 hours when all you need is price. I found out about you from a Tim Price newsletter and it immediately clicked with me. I hope to be a client soon if I can ever stop making stupid decisions with money because I believe we are in a 1970’s type environment.

Scott B.

Jump into trend following and let go of the noise!

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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
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• 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:

Good Day Michael,

I wish I could point to a single biggest challenge faced in my trading but I’ll try below.

1. Working a full time career around my trading.
2. Getting out of my own way in trading such as take profits and losses (aka; following my rules)
3. Journaling my trades specially the bad ones! (aka; emotional control)
4. Addicted to option trading which has been the single factor of my last few years of losing full accounts to zero
5. Not having a trading mentor

Out of those, top 2.

2. Following my Rules
3. Journaling my trades to best understand and study my losses

Thanks for hearing me out Michael! I think I have a possibly unique story but not sure. My first few years in trading (started in 2017) were filled with bad habits which rewarded me in a middle of a bull market! From $60 to almost 92k in 3 years. Then the bear market arrived and slammed me back to reality. The ATM was closed and now taking back all of its money! I know I have to unlearn all of my bad habits and replace them with sound consistent good ones!

Thanks again Michael!

Absorb every piece of info in every link below!

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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!

You asked what is the biggest challenge you have faced in your trading?
Answer: Limits on time to gain effective, actionable knowledge.

I “manage” some investments myself through 401k and Fidelity (long). I use New Harbor financial group to manage some money (long and short), and have some in short term T-Bills.

Time is a scarce commodity in my life. I have a full time job in software solution advisory. My wife and I run 2 restaurants (targeting more) and own three properties. I run a small snowplowing business in the winter, plowing for the State.

I want to quit the “job” therefore diversifying interests. Job provides good salary & benefits. Restaurants keep wife busy, plowing is good income. I want investment returns to be greater, but never have the time to research, and take action on, trends and momentum.

Thanks for reading,
Ken P.

Start 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.