Please enjoy my monologue Walking through Doors and Selling Ten Million Books with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
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Just getting back into ‘the market’ to a small degree after many years out. Wasn’t certain what to answer but today one answer came to mind, ‘when to exit’. I saw the one Donchian guideline on your website just recently about “Limit losses and ride profits, irrespective of all other rules.” I was 90% lucky and a stock I bought yesterday is up 26% at close today. It’s a small profit. I was debating the idea to sell, see if it drops, buy in again for another possible small increase. But going to let it ride based on that guideline above. Kind of challenging though. Still, a ton for me to learn. Thanks Michael.
Happy you got lucky, but that is a bad plan! Dig in here.
I’ve been listening to your podcast for the last year, including all past episodes. Just found your site and signed up for the email courses and watched the video. I am planning to purchase and read all of your books starting tonight. While I have a background in finance and statistics, I think my system may be over-optimized with too many variables and signals.
My guest today is Bruce Daisley, the host of top business podcast Eat Sleep Work Repeat; was Twitter’s most senior employee outside of the US in his role of vice president across Europe, Middle East, and Africa; and before that he ran YouTube UK at Google. Bruce’s passion for improving work led him to create his podcast where he interviews top business and thought leaders on making work better. This, his first book, was a number-one bestseller in the UK and a bestseller across Europe.
The topic is his book Eat Sleep Work Repeat: 30 Hacks for Bringing Joy to Your Job.
In this episode of Trend Following Radio we discuss:
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.
