Please enjoy my monologue Trend Following Decision Making with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
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The mindset that stuck with me was that of the entrepreneurial trader. It got me thinking about who my competitors are and where I have my edge. It made me realize that I need a more sound strategy with well-defined rules that are backed by research. What I found most fascinating, and dogma debunking, were the trend following research papers. I was taught the efficient market theory (and never bought it) and cross sectional momentum, but to read studies that truly call into question the EMT and show the driving factor in cross sectional momentum (time series momentum) was very compelling.
Cross sectional and times series momentum are not the same thing. Time series momentum is trend following.
Thank you for the work you are doing. It’s helping us a lot. Personally and in our trading psychologically. I am ordering your 6 books and will read them 3 times each in 90 days. My biggest challenge is making a final decision about preserving capital when I’m in a trade. I always want to stay to not miss my biggest trend of life. How do pros do it? Do they take partial profit? And also at what point they take it? Thanks for getting back to us. And also thank you again for the sacrifices you do to inform us of good honest content and not bull shit like most of YouTube.
My guests today are Amos Schwartzfarb and Trevor Boehm.
Amos has been growing businesses for twenty-five years and investing in startups for the past ten. Since 1997, he’s helped build companies that sold to Yahoo!, R.H. Donnelly, The Home Depot, plus over sixty more as Managing Director of Techstars Austin. He’s also the bestselling author of Sell More Faster.
Trevor was a writer before finding his way into building companies. A serial founder, he has also invested in more than forty startups, many of those through Techstars’ first Impact accelerator and as Managing Director of Alexa Next Stage, a program run with the Amazon Alexa Fund. He is currently at the venture fund Saturn Five.
The topic is their book Levers: The Framework for Building Repeatability into Your Business.
In this episode of Trend Following Radio we discuss:
Hi Michael, hope everything goes well. I enjoy a lot of your podcast, where you interview one of your prestigious guests, yet I enjoy even more monologues like this. Congratulations!
Good morning. I am ready to learn how to trade better using trend following techniques and using sound and proven principles to tighten and systematize my own trading program. I have been casually reading for the past two years and have recently ramped up my market education and started trading more. My winning percentage is good, but I attribute that largely to luck and a relatively bullish market. I am in my Junior year, studying economics in college and have a solid full-time job, making about 68k/yr. I have a lot going on, but I really want to focus my attention on trading. I really think I have an opportunity to eventually change my life. I am ready to work and learn. I just need a pro to show me the way. I hope this finds you well.