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Category: Psychology

Mark Douglas Spot On: In the Zone

Posted on by Michael Covel

Mark Douglas offered:

1. Anything can happen.
2. You don’t need to know what is going to happen in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over the other.
5. Every moment in the market is unique.

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.

I Love How Larry Hite Thinks

Posted on by Michael Covel

Had a chance to catch up with Larry Hite yesterday on the phone. A great line paraphrased from him during our call:

“[Some people] have a handicap–they are beautiful and smart (heavy on the sarcasm). How do they get around that? You need to always have an extra motivation–a real handicap even if imagined. You need it to do more, stand out more and be more creative.”

Always love to hear Larry think.

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 Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
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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.

Learn A Stop Loss Method from the Stoics

Posted on by Michael Covel

An excerpt from The Power of Negative Thinking:

Ancient philosophers and spiritual teachers understood the need to balance the positive with the negative, optimism with pessimism, a striving for success and security with an openness to failure and uncertainty. The Stoics recommended “the premeditation of evils,” or deliberately visualizing the worst-case scenario. This tends to reduce anxiety about the future: when you soberly picture how badly things could go in reality, you usually conclude that you could cope. Besides, they noted, imagining that you might lose the relationships and possessions you currently enjoy increases your gratitude for having them now. Positive thinking, by contrast, always leans into the future, ignoring present pleasures.

More:

The social critic Barbara Ehrenreich has persuasively argued that the all-positive approach, with its rejection of the possibility of failure, helped bring on our present financial crises. The psychological evidence, backed by ancient wisdom, certainly suggests that it is not the recipe for success that it purports to be.

A good stoic primer. Also, a video.

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.

Daniel Kahneman on the Trap of ‘Thinking That We Know’

Posted on by Michael Covel

“Critical thinking has to include assessing one’s own thinking”: Read and watch.

More.

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. 37: Ryan Holiday Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Ryan Holiday
Ryan Holiday

Ryan Holiday is on the podcast:

My guest today is Ryan Holiday, the director of marketing for American Apparel, media strategist for Tucker Max, Dov Charney, and others, and an author.

The topic is his book Trust Me, I’m Lying: Confessions of a Media Manipulator.

In this episode of Trend Following Radio we discuss:

  • The media food chain
  • What goes into media manipulation
  • The lie of “if you’re doing something great, it will be heard”
  • Gatekeepers in the media
  • How blogs are our digital bloodsport
  • Why being inaccurate and inflammatory gets more page views
  • How we don’t seek honesty or reality

Listen to this episode:

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Right Action and Beliefs: Foundational for Trading Success

Posted on by Michael Covel

The rules and the math are a mission critical part of trend following success, but your mind’s organization will always be the determining factor for long and worthwhile gains. Marcus Aurelius wrote:

Two kinds of readiness are constantly needed: (i) to do only what the logos of authority and law directs, with the good of human beings in mind; (ii) to reconsider your position, when someone can set you straight or convert you to his. But your conversion should always rest on a conviction that it’s right, or benefits others–nothing else. Not because it’s more appealing or more popular.

This is why so many convert to trend following–it can be believed and it is right.

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. 22: Mike Aponte Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Mike Aponte
Mike Aponte

You can listen to my interview with famed MIT card counter Mike Aponte:

My guest today is Mike Aponte, a professional blackjack player and a former member of the MIT Blackjack Team. Aponte was featured in the bestselling book “Bringing Down The House” as the player Jason Fisher, which was adapted into the movie “21”.

The topic is investing.

In this episode of Trend Following Radio we discuss:

  • Due to his systematic approach, he’s definitely not a gambler; he’s an investor
  • Aponte’s beginnings
  • The similarities between systematic card counting and trend trading; the psychology behind the two
  • How even some of the more advanced mathematicians at MIT didn’t have the risk-taking constitution it took to make the cut
  • Some revealing anecdotes along the way, including a run in with casino security that ended with them actually asking for his autograph

Listen to this episode:

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