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Ep. 339: Tim Price Interview with Michael Covel on Trend Following Radio

Tim Price
Tim Price

My guest today is Tim Price, the London-based Director of Investment at PFP Wealth Management. Price has over 20 years of experience in both private client and institutional investment management.

The topic is his blog The Price of Everything.

In this episode of Trend Following Radio we discuss:

  • Why the fundamentals are so ‘shocking’
  • FDR and the Great Depression
  • Why government taking its hands out of the equation can be the solution in a recession or depression
  • Why savers suffer in silence
  • The three scenarios that occur when you accept that much debt simply cannot be paid back (growth, default, or inflation)
  • The standoff between Germany and Greece, and how the average German might feel today about common currency
  • The lack of outrage of zero interest rate policy

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Meeting Trend Following Pioneer Ed Seykota

Feedback in:

Hello Michael. I’m glad to have come cross your site and all of your information. I Actually have an interesting story about meeting Ed Seykota about 10 years ago.

Ok.

Got into commodities watching my stepfather get long gold before Y2K in 2000. He did well. Took a Ken Roberts course and started dabbling a little bit made some, lost some, but continued to grow my interest through 2004.

Came across the turtle trading site and all the information, read as much as I could, downloaded everything and saved it in files. Read all the books on the recommended reading lists. Out of all the market wizards, for some reason Ed Seykota jumped off the page at me. Liked his spirit. I was headed to Tahoe for a vacation and remembered reading that he lived there. Okay, tracked him down.

Decided to reach out to him. Shot him an email and said thank you for all the work that he did to try to share with people and to bring them along toward a better life. Asked if we could meet and I could thank him in person and buy him a cup of coffee. He replied and said that he didn’t drink coffee but that he liked to ride his mountain bike and play music. He asked if I did either of those things.

In fact, I did ride a mountain bike and I do play guitar. He said well give me a call when you get up here. Let’s go for a ride and play some music, and we did. Was invited back to visit his trading tribe. Very cool experience.

Nice.

You may also enjoy reading the Ed Seykota book on his trading rules.


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 Podcast Guests
Frequently Asked Questions
Performance
Research
Markets to Trade
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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.

Ep. 338: K.D. Angle Interview with Michael Covel on Trend Following Radio

K.D. Angle
K.D. Angle

My guest today is K.D. Angle. Angle began trading the futures markets in 1979 and developed his first rules-based trading strategy in 1984. In 1985 he created a newsletter called “The Timing Device” that specialized in making specific trade recommendations in the futures markets. After 1995, Angle retired the newsletter and went into asset management on a full time basis while investing the majority of his time and resources into researching and developing rules-based strategies.

The topic is trading the futures market.

In this episode of Trend Following Radio we discuss:

  • Angle’s father’s history, who turned a two million dollar gold investment into a hundred million in just six months, and the lessons learned
  • Whether there was an early trend trading influence beyond looking at Angle’s father’s career; Angle’s experience with Dunn Capital
  • Freedom of location
  • 100% rule-based and systematic trading vs. adding discretionary elements to your system
  • Why the client part of the business is so important

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Ep. 336: Colin Camerer Interview with Michael Covel on Trend Following Radio

Colin Camerer
Colin Camerer

My guest today is Colin Camerer, an American behavioral economist and a Robert Kirby Professor of Behavioral Finance and Economics at the California Institute of Technology (Caltech). Camerer’s research is on the interface between cognitive psychology and economics. This work seeks a better understanding of the psychological and neurobiological basis of decision-making in order to determine the validity of models of human economic behavior. His research uses mostly economics experiments—and occasionally field studies—to understand how people behave when making decisions (e.g., risky gambles for money), in games, and in markets (e.g., speculative price bubbles).

The topics are cognitive psychology and economics.

In this episode of Trend Following Radio we discuss:

  • Why Camerer was called a child prodigy, and how he looks at that term in the context of nurture vs. nature
  • Synthesizing behavioral economics and neuroscience; understanding Camerer’s studies when traders aren’t looking at the market on a day-to-day basis; how we can stimulate the brain to create a bubble
  • The ethical issues surrounding Camerer’s work
  • Machine learning and data mining
  • Neuroscience and game theory
  • Comparing humans and chimps in the study of neuroscience
  • How trust correlates with economic growth
  • How emotion functions in the modern world

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Trend Following Radio Feedback

Feedback in:

Michael,

Hope all is well. I thought it was only appropriate to connect with you after listening to probably around 100 of your podcasts. I live in Silver Spring and every day on my commute to Exelon (energy company, where I work in Baltimore), I listen to your podcasts.

I am 27-years old now and for the past 4-5 years I have been learning how to trade based on technical analysis and price action. A few years ago, I learned that simple is better in terms of indicators/trade setups and risk management is key to not blowing up my account. My current strategy consists of two general trades; swing trades (buying on pullbacks to long term trend lines) and buying breakouts of consolidations or to new highs. The indicators I use are trend lines (horizontal/diagonal), volume, candlesticks, moving averages as support and resistance and relative strength vs the S&P 500.

After listening to many of your podcasts, the commonalities between the traders and portfolio managers are apparent and have become part of the way I think and part of my rules. I am emailing you for two reasons; firstly, to thank you for all the great podcasts and for giving me a place to hear from like-minded individuals. Secondly, I am trying to find a a mentor to help me find a way to turn my part time hobby/passion outside of work, into a career. Are there any trend following/price action based traders/portfolio managers that you know of in the Washington, DC metro area? Also, if you have some time, it would be great to talk with you.

Have a great weekend Sunday in Asia.

Regards,
[Name]

Thanks for the note. Many issues related to mentorship are sprinkled throughout my podcast monologues. Circle back on those. More thoughts on mentorship? The DIY effort seen across Godin blog–is highly recommended.


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. 335: The Bitcoin Episode with Andreas Antonopoulos and Harry Yeh with Michael Covel on Trend Following Radio

The Bitcoin Episode with Andreas Antonopoulos and Harry Yeh with Michael Covel on Trend Following Radio
The Bitcoin Episode with Andreas Antonopoulos and Harry Yeh with Michael Covel on Trend Following Radio

Please enjoy my monologue The Bitcoin Episode with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

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Want to learn more Trend Following? Watch my video here.

Recreating the Turtle Experiement in the Information Age

A recent interchange:

Listener: As you know most new Macs don’t have DVD drives. Do you have a download to buy Broke?

Covel: It’s on Amazon and iTunes.

Listener: Thanks. And how about the DVD you send to people who sign up for your newsletter?

Covel: Here.

Listener: Thank you.

A few days later the same listener writes:

Listener: Michael, one of the best trades I make is listening to your podcast at night instead of going out to bars with my friends that don’t understand the value of time. I’ve had email conversations with Jerry Parker, [name] and a response from Salem Abraham. Wondering if you have any suggestions on how I may make a trade with them to take me under their wing and teach me as Richard Dennis taught Jerry and other Turtles? At 26-years old I don’t have as much to offer a billionaire as the value they’d be adding to my life and future income [is far greater].

Covel: No secrets on meeting people. Do read [Seth] Godin book, “Linchpin“. But you need to think carefully about the time needed to become an employee versus just being the boss from the beginning. The Turtle experiment will never be repeated as it was.

Listener: I’ll order it now. I’ve always been my own boss. I don’t want to work for them, I want to be mentored by them. But I can’t ask for value without offering them value. You know them. What could I offer them in return for mentorship? Never say never. You wouldn’t be where you are if you believed in never. Doesn’t mean we cant orchestrate a different version of the experiment.

Covel: DIY. The time wasted chasing the boss, or mentor, can be great. Much of the information and insights and mentoring you want is in front of you. But you want something else–so you don’t see it.

Listener: Your podcast is nothing but people who believed in themselves and didn’t listen to others when they said they couldn’t do something, including yourself. Really surprised you are so quick to discourage me from seeking mentorship. I know the way the experiment was done is extraordinary and rare. Doesn’t mean we can’t figure something out that could persuade Jerry or Salem or at least intrigue them.

Covel: You are not the only one to contact all these great traders in the day of the information age. They only have so much time. Best advice: DIY.


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.