Thank you for all your contributions. The immense amount of information you provide is incredibly generous. I struggle with discipline, sticking to the trade plan to exit when the trade goes against me. I have blown up my account and now am paper trading with success I expected with my strategies. Trending following is attractive to me because I could maintain my career and grow my account in a more predictable manner and not having to stick to my computer every moment of the day.
I’m a 48-year-old who is realizing, for the first time, the power of share trading rather than traditional investing. I’m reading your Trend Following book and listening to your podcasts, and on their own, they are helping me towards personal growth and success. Thank you for the huge effort you put in for the benefit of others. It’s a rare quality.
Thank you for your email. I have to say my weakest part of my trading is sticking to my rules and being disciplined. I’m grateful to have found your website and looking forward to learning more about the art of trend trading. I do have a question for you if you don’t mind me asking. What do you think of Heikin Ashi candles? I use these candles in my strategy and they seem to clearly reveal trends within the market and are able to produce entries and exits depending on what time frame you are using. Have you used these candles yourself? I specifically use the daily candle as my trend guide and use the 1-hour candle as my entry. I also use MACD for confirmation.
Candles are bullshit. Waste of time. Yes, that blunt. Poke through my world — many wise voices, for example.
I think the aspects that you cover in the mini course really highlighted to me the pitfalls of buy and hold investing. You do and have done a great deal trying to shift the outlook and mindsets of people who are stuck with traditional buy and hold investing. The raw performance data of managed futures traders who use trend following systems that you illustrate and so often mention is enough for me. A great deal of what you cover in the mini-course, your books and on other platforms has really helped me understand that trend following is an alternative in times of crisis. Not just that, but systematic trend following has to a great degree taken away the burden of becoming too emotionally invested with placing trades and being less distracted by fundamentals. No news is really good news. More time to focus on risk management and doing things professionally in small increments.
I am a “big” fan. I’m a retired “Federal” employee ( I know you’re not a fan of federal workers). I started at the very bottom in 1979 as a GS-2 18-year-old wildland firefighter in the Western US while attending college and retired three years ago as the National Chief of Wildland Fire Operations for my federal agency. Please note, part of the reason I could retire is because of you. In life, relationships, etc; I’m not a big believer in “expectations”, in fact, I’ve found if you have expectations that someone is going to do something for you, in most cases, you end up disappointed! I’ve purchased 5 of your books and have listened to all your podcasts, I have “received” and “learned” a great deal from you without any expectations. I’ve been investing for 25 years (mostly stocks), over that time, I’ve read 50+ books, done online courses, webinars, etc… More so than anyone, your insight into trend following has helped “connect the dots” for me. Developing a system, backtesting, diversification, position-sizing, etc. That said, I’m still learning. What’s more, from your insight, I’ve found “trend following” concepts also apply to life/relationships. Don’t change. Keep up the good work!
My biggest challenge is that I don’t have a clear strategy. I jump between scalping (which I do best at… until I don’t), and the 1 hour chart. I don’t have a clear strategy for the larger time frames. Then when I find something that I’m happy with, I get tied up at work and can’t look at the charts and miss entries. I’m all over the place! I’m keen to view your trend following video and see how you manage your exits.
Biggest challenge with trading: Becoming less emotionally tied up with my trades. Trying to resist checking their progress every 2min rather than just letting the process play out. On winning trades: I have a tendency to set trailing stop losses too close, so that a quick reversal in price leaves me stuck with a moderate win instead of a potential “monster”. Caused by not wanting to give any of my winning positions back to the market. I know it’s wrong, and the situation is improving, but my conservative tendencies are leading to a low risk/low reward scenario. Winning big can sometimes be as scary as losing. That’s the mindset I’m working hard to overcome.