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Category: Trend Following

Trade Your Way to Freedom

Posted on by Michael Covel

A recent interchange:

Drew West: I love your podcast. What days do you regularly have it loaded?

Covel: No set schedule yet — maybe I need to fix that!

Drew West: How does a finance grad get a legit job in finance. Do I build a personal website and SEO it? I’ve listened to every podcast from day one and some multiple times, love the recent Tom Demark one…

Covel: I would first ask what you consider a legit finance job? Does job mean you work for someone?

Drew West: Almost anything as long as I’m not selling life insurance and bogus annuities driving around all day.

Covel: I would work more at getting more specific. Right now I have no clue what you know or what you want to do.

Drew West: I love trading.

Covel: Why are you not trading?

Drew West: Poor student loans. If I knew what I know now, I might not of went to college.

Covel: Make cash. Start trading. The way you make cash first might not be in finance nor does it have to be.

Drew West: I’m connected to Ned Davis on LI and tried meeting with him but I’ve learned he sold out like everyone else I know.

Covel: Who cares about anyone else. You have cash, you can trade. Get cash.

Drew West: Well I’ve tried quibids – but I’ve learned it would take tremendous capital to make profitable.

Covel: Never heard of that. Go standards: stocks, futures and options. That’s what to trade.

Drew West: Oh its just an auction site – alternative trading.

Covel: No gimmicks. Unless that is how you make the cash to go to real markets.

Drew West: Well I’ll take that into consideration… Save cash… Thx, do you prefer Michael or Mr. Covel?

Covel: Mike fine. Read “Linchpin” By Seth Godin.

Drew West: I did. I love Godin.

Covel: Don’t chase finance jobs.

Drew West: Ok I’m going to do pharma sales. I have medical experience and seems best option without doubt hopefully. Actually you don’t like hope, so I’m working towards doing that.

Covel: Make the cash. Then you have time and choices otherwise known as freedom.

Drew West: Cool thanks. Talk another time. Stay warm if you’re in that Virginia area, let me know if you come down to Florida. Ya freedom! Agreed.

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. 202: Barry Schwartz Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Barry Schwartz
Barry Schwartz

My guest today is Barry Schwartz, an American psychologist and author. He is a professor of Social Theory and Social Action at Swarthmore College. Schwartz’s psychological work is right there at the foundation of why any trader or investor will have success.

The topics are his books The Paradox of Choice: Why More is Less and Practical Wisdom: The Right Way to Do the Right Thing.

In this episode of Trend Following Radio we discuss:

  • Choice and practical wisdom
  • Choice in selecting a mutual fund, and how Schwartz has seen that unfold in corporations
  • The paradox of options
  • Having too much choice
  • Democracy and choice
  • The idea that decision-making has shifted from the expert to the individual
  • Why prescription drugs are marketed to people who can’t buy them outright
  • If choice drives clinical depression
  • Expectations
  • The idea of practical wisdom
  • Judgment and discretion in the workplace
  • Wisdom and the education system
  • Having a “script” from your employer that prevents you from thinking outside of the box
  • The importance of working with like-minded people
  • How things have changed since the 2008 financial crisis

Listen to this episode:

Jump in!

I Want the Hate Too

Posted on by Michael Covel

Caught this review of my podcast while discussing “troll” aspects of modern life with my sister:

Michael Covel interviews some great guests on his podcast, and that’s the part I love about his podcast. When h[e] allows the guests to go deep into a topic, the interviews are tremendous. Things I dislike about these podcasts? Michael Covel constantly diverts conversations into meaningless specula about fed policy or starts a monologue about value investing and buy-and-hold. Good to hear once, but not on e[very] podcast! Also, he over all tends to talk like a “know-it-all”. Michael, allow guests to talk more about topics they’re good at and stop trying to be a “life” coach.

She then says remember the scene from Howard Stern’s film? I said no, so looked it up. Self-explanatory:

Researcher: The average radio listener listens for eighteen minutes. The average Howard Stern fan listens for, are you ready for this, an hour and twenty minutes.

Stern Associate: How can that be?

Researcher: Answer most commonly given: “I want to see what he’ll say next.”

Stern Associate: Okay, fine, but what about the people who hate Stern?

Researcher: Good point. The average Stern hater listens for two and a half hours a day.

Stern Associate: But… if they hate him, why do they listen?

Researcher: Most common answer: “I want to see what he’ll say next.”

Stern has made me laugh many times in my life.

Note: Great piece on dealing with haters.

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.

Choosing a Fund Manager: Where to Start?

Posted on by Michael Covel

Feedback in:

Dear Michael, my name is Myles [name] and I am from Dublin, Ireland. I am 43 years old and my back ground is in construction. I have studied trading for the last 18 months, your books, podcasts and website have become the core of my research. Before I go any further, thank you for your work, it will be life changing for me and my family. I have recently purchased your latest system. So as you say yourself let me jump right in!

I came across your fantastic work while reading THE NEXT BIG INVESTEMENT BOOM by Mark Shipman. I think the story of how he started at 16 with almost no formal education and retired with a small fortune at 33 having borrowed £60k from family and friends would be a great story for your listeners. I would love to hear Mark interviewed on your podcast some day. Mark called the property crash in 2007 and also the commodity boom. Mark gives a couple of basic trend following systems using weekly charts.

Michael, I have read all your books and lots more that you have recommended. I realized I needed to educate myself further other than just reading books so I enrolled with the IIFT (Irish Institute Financial Trading) in Dublin, so I could understand the terminology and how to read charts, etc. IIFT are mainly Day Traders, and I realized that this was not for me over the long term, but I learned what I needed and also met two excellent teachers.

My intention is to continue developing my own trading plan and education through my enrollment in your training system. I feel more comfortable trading small until I progress over the years with help from your team. If I may please ask can you suggest any small to medium size trend following fund managers that I might engage with for the medium term with a view to investing 50/100K?

I understand the relevance of perhaps choosing a manager on a drawdown, and also the importance of understanding and agreeing the risk element of any investment, can you suggest other criteria particular to choosing professional fund managers? Finally, I should say that my inquiries may not be strictly within the bounds of your support package but this is where I am and I know I am solely and fully responsible for my own investments now and always. I am already extremely grateful for your guidance and I would very much like to meet you and have a snake heart in Saigon someday, or hopefully in Singapore this year, until then its fish and chips!

Sorry for rambling on, thank you.
Myles

I think the best option for finding a manager is to investigate the ones mentioned in my books. There are others of course and I implore you to investigate those too. In the context of my training we can also have some back/forth about the issues associated with selection.

Thanks for the nice feedback Myles.

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.

Trend Following Podcast Praise

Posted on by Michael Covel

Feedback in:

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.

Best Regards,
Dan

Thanks Dan!

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.

Singapore and a Bottle of Trend Following Bubbly

Posted on by Michael Covel

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)

Regards and namaste,
Jerry R. McKenney

Jerry refers to this podcast.

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.

Breathe of Fresh Trend Following Air

Posted on by Michael Covel

Feedback in:

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.

Thanks Daniel.

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.