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Tag: books

Michael Covel, Joe Kernen & CNBC Insanity

Posted on by Michael Covel

My new book Trend Commandments tackles financial news head on. An excerpt where I analyze a CNBC interview with trend trader David Harding:

Joe Kernen is not devoid of academic intelligence. He holds a bachelor’s degree from the University of Colorado in molecular, cellular, and developmental biology and master’s degree from Massachusetts Institute of Technology. He worked at several investment banks including Merrill Lynch. I am no Harding fanboy or apologist, but I have spent time with him. That research time, coupled with his public career and track record, make him one of the most learned trend trading voices of the past twenty years. It is clear to me that Kernen had a preformulated agenda [in the interview]. His questioning was a transparent attempt to marginalize Harding and trend following. Why would Kernen do that? Imagine if the interview started like this:

“We at CNBC believe in efficient markets and the use of fundamental analysis. Our business model requires viewers to watch. Today, we have a guest on who has made billions with trend following trading, which does not require fundamental analysis or CNBC. Would you like to know how to make money without ever watching our channel again? Welcome David Harding!”

More.


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An Interchange: Trend Trading Confusion

Posted on by Michael Covel

Feedback in:

Hi Michael, this is [name] from Kuala Lumpur, Malaysia. What is your take on Gold and soft commodities for the present year and where do you think the Dolllar is heading to? Warm Regards, [name]

Hi, are you familiar with my trend following research?

Yes i have read your books namely Trend Following and TurtleTrader. For a fact you go with the trend, but just wanted to know as to how you see these trends goin…

But I am a trend follower, not trend predictor! Trend followers don’t make predictions. Both my books emphatically say that. It’s not a joke!

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.

Bernard Drury: Grain Trader Turned Trend Following Trader

Posted on by Michael Covel

Bernard Drury (PDF) is a trend trader today, but he started as a fundamental grain trader. He is in my new book.

Disclaimers:

Our firm can not promise you will earn like returns of traders, charts or examples (real or hypothetical) mentioned. All past performance is not necessarily an indication of future results. Data presented is for educational purposes. This information is not designed to be used as an invitation for investment with any adviser profiled. All data on this site is direct from the CFTC, SEC, Yahoo Finance, Google, IASG and disclosure documents by managers mentioned herein. We assume all data to be accurate, but assume no responsibility for errors, omissions or clerical errors made by sources.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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
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• 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.

Jim Cramer Supporter Stalks Me; I Always Wanted a Stalker!

Posted on by Michael Covel

In April of 2010 this guy wrote me about my critique of Jim Cramer (he was reading intro to my 2nd book?). Almost a year has passed with no contact and now today this ditty comes rolling in from Dave Loevner:

I have so far skimmed the information you have to offer, and intend to go back, and read verbatim. What bothers me specifically about you, and certainly not your material is your opinion of me. Obviously, with the fact that I do watch Mad Money w/ Jim Cramer makes me an idiot. Why do you waste energy slamming someone else when, that energy could be used more productively? Why even bring up Jim Cramer when you have so much to offer? Put the energy there. Every time I see your name on the internet, it’s never about you, and what you have to offer. It’s you, slamming Jim Cramer.  Much rather hear more of what you have to offer. Are you so filled with jealousy over not having a TV show that, you have reduced yourself to this playground nonsense? That was rhetorical, only asking that you give yourself an honest answer. You have value, and much to give but, not because, in your opinion Jim Cramer doesn’t. Knock it off, and focus on the information you have to offer. Yes, I enjoy Mad Money. One thing Jim Cramer emphasizes is, due diligence! I take him at his word as he has been wrong more than once. He emphasizes that because he, admits he has been wrong. It is entertaining to me, and I do get some valuable information to at least enable me to continue looking at the market. I have learned much on analyzing my market activity. I intend to learn more from you, as well but, it is difficult learning from someone who thinks I’m an idiot, and focuses so negatively on someone else. Both of you have different styles but, much to offer. When you finally free yourself from focusing so negatively on someone else, and referring to me as an idiot perhaps, I can feel a little better about reading your material word for word. Hopefully, you will move forward with an emphasis on you, and your work. Thank you, Dave Loevner

Let me get this straight Dave, you don’t want to read about trend following because a small part of my job is to slam your boy Cramer? I recommend sticking with him. Working with lost clients is not my cup of tea. Here are two more shows to add to your watch list: 1 and 2. When done there start at about the 27:00 minute mark here.

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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• Frequently Asked Questions
• Performance
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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.

Francisco Vaca: The ‘Turtle’ Scientist

Posted on by Michael Covel

I spent some time with Francisco Vaca a few years back in Florida. He offered a nice view on my book ‘The Complete TurtleTrader’:

“Regarding your new book [“The Complete TurtleTrader“], I can say that after hearing the turtle story many times from many of the people that are part of the story and after reading many articles about such story, this is by far the most entertaining, inspiring, extensive, and honest story of the turtles I have ever read.”

Vaca’s background? He currently is an associate with original Turtle Paul Rabar. How did he get started?

“…a friend…told me there was a job for a programmer at a commodity trading firm. He had thrown away the job ad, so I picked it out from the garbage! It turned out to be at C&D Commodities, which was co-founded by Richard Dennis of ‘turtle’ fame.”

That ‘find the ad in the garbage can’ was long after the original Turtle experiment. Read a recent article on Vaca (PDF).

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.

Close Enough to the North Pole

Posted on by Michael Covel

An excerpt from my Turtle book that I like:

No matter what ‘price’ is the variable that the great traders have lived and died by for decades. Making trading decisions more complicated than the simple heuristic of ‘price’ has always been problematic. Eckhardt knew it was hard to do much better: “Pure price systems are close enough to the North Pole that any departure tends to bring you farther south.”

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.

Trading Numbers, Not Markets

Posted on by Michael Covel

An excerpt from my book The Complete TurtleTrader:

Richard Dennis’s friend Tom Willis had learned long ago from Dennis why price, the philosophical underpinning of Donchian’s rule, was the only true metric to trust. He said, “Everything known is reflected in the price. I could never hope to compete with Cargill [today the world’s second-largest private corporation, with $70 billion in revenues for 2005], who has soybean agents scouring the globe knowing everything there is to know about soybeans and funneling the information up to their trading headquarters.” Willis added [when talking about trend followers], “They don’t know anything about bonds. They don’t know anything about the currencies. I don’t either, but I’ve made a lot of money trading them. They’re just numbers. Corn is a little different than bonds, but not different enough that I’d have to trade them differently. Some of these guys I read about have a different system for each [market]. That’s absurd. We’re trading mob psychology. We’re not trading corn, soybeans, or S&P’s. We’re trading numbers.”

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.