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Category: Psychology

“Just keeps getting better…”

Posted on by Michael Covel

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Hi Michael, what a great combination of conversations with Charles! I am about 4 hours in and the information just keeps getting better. Wanted to say thank you for the great and varied content. I would also like to share what I have learned since starting to follow you over the past 6 months or so. The power of language and more significantly the importance of right language and what that represents to my interpretation is truly insightful. What I realize is that:

– I have a long way to go (and 15 years in FX management means i have to unlearn many things as well)
– There is an absolute need for clarity of language
– Limiting the negative self-talk to very specific timely events, not large general broad sweeping ones

So thank you for the journey so far. As a side note, do you list the books that yourself and your guests recommend or mention on the podcasts on your website? Michael I will be honest I am leaving the above sentence in as a example of picking up my own system one thinking and the way search engines are making us look for easy and immediate answer. My mindset went straight to typing for an answer rather than doing search for one. A little research goes a long way.

Keep up the great work.

Thank you,
[Name]

Thanks!

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“500th episode with Charles Faulkner was eye opening…”

Posted on by Michael Covel

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Dear Michael,

First of all I have to say a big thank you! Your podcasts broadened my knowledge base and moreover, it provided me the impulse to change the way I’m thinking about markets, market participants and my own work.

I’m currently managing 2bn € AuM for institutional investors and the job is really embarrassing to me. The way money is managed in the industry is pro cyclical. You’re hiding behind benchmarks & marketing brochures and worse – due to regulations – you’re just paid for avoiding risks. I have enough and to spare!

Your 500th episode with Charles Faulkner was eye opening to me. It started a mental firework in my brain! I really want to change something in my life. As I was always a great fan of behavioral economics, and I would love to combine this direction with NLP and do coaching work in the finance space. Especially in Europe, we’re decades behind in comparison to the US.

As NLP is very criticized in [other country] for not being a “real science”, I wanted to ask you what do you think about NLP? At the moment I look at different coaching techniques. As I now that you are very open minded and a great thinker I really appreciate your feedback!

Best regards,
[Name]

NLP has a great many benefits. Any effort that brings a greater understanding to us irrational humans is alright by me.

Not Rational
Not Rational

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. 507: Lanny Bassham Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Lanny Bassham
Lanny Bassham

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My guest today is Lanny Bassham, an Olympic gold medalist. After falling short in the 1972 Olympics winning the silver medal rather than gold, Lanny went home and re-applied himself. He returned to the 1976 Olympics and won the gold medal in rifle shooting. For the past 40 years, he has provided “Mental Management” training programs to clients including PGA Tour golfers, Miss America finalists, CEOs, US Navy SEALs, SWAT teams, and the FBI. In addition, Bassham briefly headed the U.S. Olympic shooting team and has operated the company Mental Management Systems with his wife Helen in Flower Mound Texas since 1977.

The topic is his book With Winning in Mind.

In this episode of Trend Following Radio we discuss:

  • Creating a mental process
  • Changing your self image
  • How the top 5% think
  • Hard work in practice vs. Hard work in tournaments
  • Thinking of process not outcome
  • Valuing performance not just participation

“A lot of people chase the ‘skill’ thinking that is all they need.” – Lanny Bassham

“Outcome will always follow process.” – Lanny Bassham

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Ep. 506: Stepping Aside with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Stepping Aside with Michael Covel on Trend Following Radio
Stepping Aside with Michael Covel on Trend Following Radio

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

In this episode of Trend Following Radio:

  • Meritocracy
  • Donald Trump as President
  • Trading off the trend, not fundamentals

“They said the market would crash if Trump won, and the market didn’t. But who are ‘they’? That should be the question.” – Michael Covel

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Want to learn more Trend Following? Watch my video here.

Tony Romo
Tony Romo

Ep. 505: Daniel Crosby Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Daniel Crosby
Daniel Crosby

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My guest today is Daniel Crosby, a psychologist, behavioral finance expert and asset manager who applies his study of market psychology to everything from financial product design to security selection. He is co-author of the New York Times bestseller Personal Benchmark: Integrating Behavioral Finance and Investment Management and founder of Nocturne Capital. He is at the forefront of behavioralising finance. His ideas have appeared in the Huffington Post and Risk Management Magazine, as well as his monthly columns for WealthManagement.com and Investment News.

The topic is his book The Laws of Wealth: Psychology and the Secret to Investing Success.

In this episode of Trend Following Radio we discuss:

  • Expert discretion
  • Efficient market theory
  • The eradication of guinea worms
  • Human ego
  • Warren Buffett and his trading strategy
  • Passive investing
  • Sigmund Freud’s impact on trading
  • Standard deviation as a proxy for risk
  • Matching “the benchmark”

“We tend to delegate the dangerous and own the advantageous.” – Daniel Crosby

“Trouble is opportunity.” – Daniel Crosby

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Ep. 502: Efficient Market Thinking with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Efficient Market Thinking with Michael Covel on Trend Following Radio
Efficient Market Thinking with Michael Covel on Trend Following Radio

Subscribe to Trend Following Radio on iTunes

Please enjoy my monologue Efficient Market Thinking with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

In this episode of Trend Following Radio:

  • Efficient market hypothesis
  • Scientific method
  • What is a heuristic?
  • The market price
  • What if money was no object?

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Want to learn more Trend Following? Watch my video here.

Ep. 485: Jared Dillian Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Jared Dillian
Jared Dillian

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My guest today is Jared Dillian, the author of Street Freak: Money and Madness at Lehman Brothers, named one of the top business books of 2011 by Businessweek magazine. He edits and publishes a variety of financial publications, including his own: The Daily Dirtnap. He spent a career as a trader on Wall Street and a short career before that as a Coast Guard officer. He is also an active investor, racquetball player, and an electronic music curator.

The topics are his books Street Freak: A Memoir of Money and Madness and All The Evil of This World.

In this episode of Trend Following Radio we discuss:

  • Behavioral finance
  • Market psychology
  • Housing bubble
  • Dot com bubble
  • Lehman Brothers
  • Starting your own hedge fund

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