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Trend Following Feedback

Posted on by Michael Covel

Feedback in:

Dear Mr. Covel,

I have really enjoyed reading two of your books, Trend Following and The Complete TurtleTrader, over the 19 years that I have been involved in the markets and recently started listening to your podcasts. I am in the process of relocating to Singapore and it was from one of these podcasts that I learned you are currently there. Unfortunately, I am not there next week to attend the Bloomberg/MTA Singapore ‘Systematic Trading for Investment Professionals’ seminar, but would really appreciate an opportunity to meet with you and ask a few questions.

I first started in the markets in 1996 on LIFFE and relocated to Australia in 2002 where I was a futures broker for a couple of years [we used to execute (Turtle) Elizabeth Cheval’s EMC orders] and then I became a prop trader in 2005. I am now working for a company called [name] assisting one of the senior portfolio managers but am really keen to explore and learn more about trend trading, as from experience, I can see the benefits & upside of having predetermined entry and exit points based on price action.

Kind Regards,
Chris [Name]

Thanks!

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.

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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.

Gaining Experience in the World of Trend Following

Posted on by Michael Covel

A recent exchange:

Listener: I would enjoy the opportunity to gain lots of experience in the world of trend following. I would like to explore the opportunity of offering my employment services free of charge to anyone (yourself included) who could benefit from the services of a young, ambitious, intelligent and entrepreneurial spirit. I need to change my family’s life. We are a young family of 5 with a 7, 2 and 5 month old. My wife and I have discussed this at length, and I am ready to put in 24 hr days anywhere in the world. I have been an entrepreneur all my life. I am not scared to work. I am willing to relocate if you would agree that any opportunity presenting itself warrants it, or work remotely on any endeavour where I can gain more knowledge and some first hand experience. I am sure this is not the first email of this type that you have received. But mark my words, I am willing to give my all to anyone who needs assistance and help them make a lot of money! I just want to learn this business and learn from the best players in the industry if possible. I am ready for this. I have been on the outside looking in for way too long. I want to make the leap but do not have the experience. I am available any time of day or night to discuss this in further detail if necessary. 2015 needs to be a fresh start for me and my family. I am ready to give my all to whomever could use a hard worker in their business.

Covel: You have gone through all of my books and all of my podcast? My first big question.

Listener: No I have not completed all of the books and podcasts as of yet. I am completing the books and will have to start the podcasts. Admittedly, I have only ever listened to one podcast in my whole life which was one in which you were a guest speaker and that was via YouTube. I will commit to reading all of the books and listening to all of the podcasts by Wednesday Jan 14th at midnight. I will email you with my progress by 9am est on Wed Jan 15th or sooner if I complete this task earlier.

Weeks later:

Listener: I am in the process of finishing the books and have a big task of listening to all of the podcasts now. Would you like for me to ensure I have listened to them all before re-contacting you? I apologize for being late as I stated I would email by 9am this morning.

Covel: Sure, but you will also have many answers then.

Listener: Not sure I follow what you have said. Sorry. I had originally contacted you asking if you had any ideas or opportunities for employment or for me to enter the field and then you had asked if I read the books and listened to the podcasts.

Covel: Exactly. Your question will go a long way to being answered if you follow my instructions.

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: Pura Vida!

Posted on by Michael Covel

Feedback in:

Hi Michael, I´m a Tim Sykes Challenge student [and] I saw you in one of his DVDs. Since then I have followed your podcast (and great interviews by the way). I’m [an] audio guy [and] I only found your audio book [for] “The Little Book of in Trading”. [W]hen [will] the others books…be available in audio?

I´ve been a broker for 17 years in Costa Rica in [Name] (biggest Insurance company in Central America) and my clients currently are pension funds: private and public. The markets in this country are changing. Our pension funds administrate 15B in local currency and they are doing baby steps to invest in the US markets. Could you recommend me the top funds that do Trend Following that specialize in pension funds or insurance companies?

Greetings from Costa Rica, or how we say, “PURA VIDA”.

Review my podcast. Many names. All of my books? More names. No secrets!

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: Freedom and Opportunity

Posted on by Michael Covel

Feedback in:

Greetings Michael, My name is [Name] and I am a relatively new investor/trader. I have been unsuccessfully trading the stock market since early 2012. I have approximately $30K invested in the stock market and have seen that investment go down by $6K twice including today’s massive sell-off as well as up $8K twice. For some reason i keep making the same mistakes and I would appreciate some help with sticking to some rules. I really see myself as a trend follower because the stock market is very unpredictable. I would love for some help and guidance with this. I actually just finished your interview with Kevin Bruce and my goal in achieving high returns in the stock market is for “Freedom” and opportunity for various choices. I follow tweets from both you and Jon Boorman.

Regards,
[Name]

My options: books and podcast. Great place to start. Also, for more hand holding: go.

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 Calling!

Posted on by Michael Covel

Feedback in:

Dear Michael:

Having just recently finished ‘The Complete Turtle Trader’, I must commend you on a very informative (& readable) analysis on the development, success & continued relevance of the original Turtle program. For guide, I am based in Singapore as part of [Name] derivative trading team. As you spend a fair bit of time in the region, it would be a pleasure to meet for lunch (or dinner) on your next stay here.

Regards,
[Name]

Next time, 100%.

photo

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.

Hit The !@#$ Home Run!

Posted on by Michael Covel

Some companies, and individuals, stress [focus on] the short-term performance of trend followers. They look at one month’s performance, see a down month, and panic. They have complete ignorance of the long-term objective–big money. How bad can it get? I have seen trend following traders make 100 percent in a year followed by a year where they lost 5 percent. That 5 percent loss causes some critics to not see the 100 percent number. That is insane thinking. Just like a baseball player’s batting average can have short-term up or down streaks over the course of a season, trend followers have streaks. Trend following performance will deviate from averages, but over time there is remarkable consistency when it comes to putting up big returns—as long as unpredictable home runs are allowed to happen naturally and unforced. The leading thinkers across varied fields, including insurance, casino gambling, and investing, all emphasize the same point. It’s the Babe Ruth effect: Even though Ruth struck out a lot, he was one of baseball’s greatest hitters. The home runs made up for his strikeouts. A trend follower coaching a baseball team would approach it like the former manager of the Baltimore Orioles. Earl Weaver designed his offenses to maximize the chance of a three-run homer. Weaver did not bunt or want guys who slapped singles. He wanted guys who hit big home runs. Trading is a waiting game. You sit, you wait, and you make a lot of money all at once. Profits come in bunches. The trick when going sideways between home runs is not to lose too much in between.

Note: From my book Trend Commandments. Shout to Michael Mauboussin.

IMG_7697

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.

Starting Out: One Man’s Story

Posted on by Michael Covel

An excerpt from my book:

Even though he loved his job in the markets, David Druz soon entered medical school to hedge his bets. Medicine was interesting to him, but he was 100 percent fascinated with the markets. Did he have lots of money? No. The only money he had was $5,000 in stock that his father had given him. Druz cashed that out and put it into his account. At that same time the brokerage firm offered him a job, a full-time job to quit medical school and go work for them. They offered Druz $50,000 to start. That was really good money in the 1970s. A slightly drunk friend told him, “Dave, don’t take that job. You can be a really good trader, but if you take that job, you’ll never be a great trader. You’ve got to get a nest egg for security. You don’t want to trade with scared money. Finish medical school, be a doctor, and then you’ll be a great trader.” Does that make sense to you? Maybe not at first blush, but it was the wisest piece of information anyone ever told Druz. He has since seen many people over the years trading with scared money—meaning they would make decisions on the value of the money to them (read: emotional decisions about a new car, suit, or wife), and not follow the exact rules of their trading plan. “Don’t quit your day job” is another critical success lesson—write it down and tape it over your desk. Druz took his $5,000 and started to trade. He wasn’t very good at first, and his account dropped down to around $1,500. At that point he had hit rock bottom and trading success was beginning to move out of sight. He then received a message from his brokerage firm, “You got a fill on your trade.” Druz said, “I don’t have any orders in. I’m out of business.” The brokerage replied, “No, you had a ‘Good Til Cancelled’ order (GTC) in and it is ‘limit up’.” Druz was back in business! The universe apparently would not allow him to quit—he truly believed that. You too might think sometimes, “If I only had one more chance,” but when the next opportunity or chance does come around again you have to be willing to get in the game and play again—without thinking about your negative first experience. Second chances are telling you something. Heed their advice.

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.