Hi Mike, I just wanted to say Happy New Year and thanks for responding with a quote for my post in 2013. I’ve seen some great growth in the first year of my blog and I really appreciate the support. I hope 2014 treats you well and thanks for all of the awesome podcast interviews as they’re incredibly valuable.
Feedback in on my proposed 2014 Singapore conference:
Mr. Covel, please make this conference happen. My wife and I will be there. If you get Jimmy Rogers to speak I’ll buy you a ridiculously expensive bottle of bubbly. Thank you for your podcasts and your blog. I hope to meet you in my favorite place outside the Promised Land. (Texas)
Mr. Covel, thank you for the breathe of fresh air. My goal this past year was to instructively listen to all your podcasts. Many, I have listened to twice. I have 5 more to go. I have seen your documentary and I am finally reading Trend Commandment[s], the last of the your books I need to read. I have been back-testing for many years now starting with Mr. Seykota’s Project page.
Sincerely,
Daniel
PS. The link below is an informative poster showing how Michael Jordan Failed many times yet still became a basketball legend: view.
My guest today is Tom Basso, the trader most famously known as “Mr. Serenity” in Jack Schwager’s “New Market Wizards”. Basso, now retired, was a stock and commodities trader who was president and founder of Trendstat Capital Management. He is the author of two books, “Panic-Proof Investing” and “The Frustrated Investor”. Basso became a registered investment advisor in 1980, a registered commodities advisor in 1984, and was elected to the board of the National Futures Association in 1998.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
Location independence
Making sure trading doesn’t take up your entire life
Stoicism
Trend following in the emotional arena
Mental exercises
The psychology of trend following
The “observer self”
The mental aspects of success
The importance of being able to lose small amounts of money
Why trend following does so well when the black swans hit
Basso’s daily routine and the importance of routine in daily life. Covel and Basso also go through listener questions such as whether Basso would make the same trading decisions that he did from the start
Money management v. trading
Tinkering with current systems
Knowing when it’s a regular drawdown v. something really going the wrong way
Whether Basso is a one-system kind of guy v. multiple systems
In this episode of Trend Following Radio:
How to use mental exercises to improve yourself as a trader
Why the tolerance for losing small amounts of money can make you almost invincible
Tom’s daily trading routine: how to ensure you don’t spend the whole day making trading decisions
Why understanding strategic planning is key to being a successful trader
Trading for clients vs. trading for yourself, and the regulations that go along with that
Understanding the difference between a normal draw down vs. something really going wrong
Separating facts from opinions, and why it’s important in trend following trading
Listen to this episode:
Listen to this podcast on iTunes. (Please leave a rating!)
Hi Michael, received your DVD in the mail and am enjoying the videos and podcasts. Look forward to taking part in your program later in the year once I’ve gotten through your resource list.
Hi Michael, Just thought I would drop you a note to say a big thank you for all the work you and your team are doing with the podcasts, not to mention your books as well. I stumbled upon your work whilst searching for information on Nick Radge who I have been learning from over the last 12 months, and listened to your interviews with him and have been hooked ever since.
I have been attempting to find my feet in the trading world for the last 4 years and have learned more in the last 12 months from Nick and yourself than I have since I started my journey. I used to listen to Bloomberg Radio (don’t judge me) and was really struggling to find relevant information that cuts through the bullshit and gets to the essence of what we need to know as new traders, thankfully I have found it.
The other comment I would like to ad in reference to your podcasts is the variety of people and the topics you cover is wonderful. I am going back into business in the near future and love hearing entrepreneurial tales and words of wisdom form those that have succeeded. Keep up the great work, you’re a true inspiration.
Dear Michael, I have recently discovered your work via your website and the Trend Following Bible. Wow! So many lightening bolts! It’s as if I’ve arrived at the shores of a New World. I’m in the process of learning, absorbing and immersing myself into the world of trend following and my mind is in over-drive thinking of how I can create a life and a living in trend following trading. I simply wanted to say thank you for the work you have done, and are doing, to educate and inform people about this fascinating field. Genuine life altering experiences are rare but this has been one for me, for this I am truly grateful. Here’s to a thriving 2014 and making it happen.
