My guest today is Charles Faulkner, an author, trader, and international expert on modeling the knowledge and performance of exceptional individuals. He was originally featured in “The New Market Wizards” by Jack Schwager. His new work is centered on deciphering the complicated from the complex.
The topic is trading psychology.
In this episode of Trend Following Radio we discuss:
Forecasting
The rise of magical thinking
Reasoning by resemblance
Network theory
Power loss
Crypto currency
Complicated vs. Complex vs. Chaos
“Markets need ambiguity and uncertainty to be the living system that it is.” – Charles Faulkner
“Scientific discovery is an assault on commonsense.” – Charles Faulkner
I just listened to 624 the edge. I did enjoy it but like the 626 interview lots better as I have read a lot of information about those people. I got my CFP in 1989 but sure wish I had gotten my CMT in place of that. I use Dorsey Wright point and figure in the work I do. Also IBD and Stock Charts.com.
Please enjoy my monologue Three Favorites with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
Please enjoy my monologue Quick to Condemn and Attack 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:
Cognitive dissonance
Donald Trump
Fact checking
Bitcoin
Breaking news
“The more certain you are of a perspective, the more severe your dissonance or mental torture will be when something threatens that perspective.” – Alwyn Lau
Trend Following, 5th Edition: How to Make a Fortune in Bull, Bear and Black Swan Markets
Feedback in:
Michael,
I wanted to write to you after listening to your Monday Podcast ‘EP: 622 Whatever You Think Think the Opposite’ which I listened to on the drive in to work on Wednesday with a huge grin on my face as I found the timing uncanny as I had handed in my resignation to my workplace on the Monday that week.
The points you made on the Podcast about making the leap, health and 2018 going to be great all resonate with me.
In an exit interview with my general manager he asked if I had taken a lot of knowledge from working there, the truthful answer is that I had from the time on the commute which allowed and focused my attention to your Trend Following Podcasts. Over the past 7-8 months I have totally changed my approach to trading throwing out the fundamentals and focusing my attention to my understanding of trend following. So far this has been a really motivating and interesting learning curve, consuming books and podcasts and building a huge passion which I’ve also radiated outwards to other friends with investment interests. The results so far even over the most recent few months have given me the confidence to back myself and leave the stability and reliance on a fixed income where I was not challenged, getting unfit at my desk and hardly motivated or allowed to demonstrate any passion.
I look forward after my 4 week notice period to dedicating my time to developing my trend following knowledge, developing our more systematic approaches and focusing on better administration of prior trades.
What can I say but Thank You for changing my direction and giving me the confidence to JUMP into a fresh start for 2018, the Trend Following journey ahead is one that I am really looking forward to.
