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Tag: feedback

My Plan for Trend Following Mastery

Posted on by Michael Covel

Feedback in:

Good evening: My name is [Name] & I live in [Name]. I work for [Name] in their [Name] & [Name] offices. I’m reaching out because my goal in life is to be a full-time trader, but I need a mentor. [Name] offers a lot of resources, but I can’t seem to stay connected to an instructor long enough to actually learn this skill. Can you please help me? I will do whatever it takes to make this work. I want to be able to spend more time with my 4 kids & amazing wife that I’ve been with since we were 17. We’re 36. Thank you in advance for your time, [Name]

The first steps for everyone: here, here and here. This is the way I introduce and train people into trend following trading.

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.

The Covel Podcast: Bitcoin Driver?

Posted on by Michael Covel

Feedback in:

Hi Michael, I wonder if you feel there is a link between your podcast and the bitcoin bubble? I notice the prices seems to breakout and take off just after your podcast is published? If so I am impressed with the amount of influence you have. I am curious as to how you feel about this?

Thanks, Brett

Hmmm… coincidence. Or not. Check out these Bitcoin Trading Rules.

covel bitcoin

 

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.

Joe Kernen Doesn’t Like Being Questioned

Posted on by Michael Covel

This video with Joe Kernen and David Harding on CNBC led to Kernen getting a little testy on Twitter with me. An excerpt from Kernen and I:

Kernen: Oh yeah. [Harding] Great for an interview. Absolutely no predictions or forecasts about what might happen in the future.

Covel: So the interviewee blows if he can’t forecast tomorrow?

Covel: Why have a trader on who does not predict and then ask for a prediction?

Kernen: Why wrestle with pigs when all you get is dirty. Toodles.

Why so curt with me? I did rip him earlier 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.

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.

The Process Is Not Easily Explained

Posted on by Michael Covel

This came across my desk recently:

Dear Mr. Covel, My name is [name] and I’ve read three of your books and have listened to over 50 of your podcasts. I’m emailing you because I have a project in which I need to interview a group of successful, yet secretive, professionals. They aren’t in the Managed Futures/Trend Following space. There will be a “secret sauce” that they will not want to give away, but obviously I need to get as much out of them as possible. The interviews will be conducted in person and via telephone/skype. My questions are:

1) What successful ways have you found to break the ice and establish rapport during the interview? I would certainly be viewed as an outsider to the industry.

2) What are some uncommon ways or tactics you have used to get the proverbial “foot in the door” with individuals who have been reluctant to accept your interview?

3) What am I offering in return for this interview? In many of your podcasts reciprocity can obviously being a great thing to get the author/guest to agree to the interview, but I’m struggling with how I might be creating value for my interviewee.

4) Any words of wisdom when it comes to this first stage of the project?

I appreciate your time and keep up the good work.

Sincerely,

[name]

Tough questions as much of what I do is instinctive now after years of practice (and of course all of my on air process is out there for all to see). It might not feel like a direct answer to your questions, but my list here is the best place to start. If you are really serious, you have some homework ahead of you.

Listen to my podcast with the creator of the Rocket Men documentary Robert Kurson.

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.

5 Minute Bar or Weekly Bar: The Same Thing! Not Exactly the Same

Posted on by Michael Covel

Consider as a foundation to this post:

“The window on analysis is shrinking. People are moving so fast now that they don’t have time to think. They’re scanning, swiping, clicking, liking, tweeting and moving on at full velocity. They’re making decisions based on feelings, not facts. They are often choosing not because of what they think, but because of how something makes them feel.”

So, I was having a conversation with a guy online. A video out there had made the declarative statement that good trading was about switching between time frames: 5 minute bar to weekly bar to whatever. The video implied it’s all about switching. I said to this guy: “It sounds plausible to switch from 5 minute to weekly bar?” He offered:

Let’s say my trading approach is to trade when a particular technical pattern appears. Is it not plausible that I might look on a number of timescales to find instances of that pattern (either manually or getting a computer to do the spade work)?…However, personally I don’t think that published stats are the be all and end all [made in response to my call for empirical data]. For example, if someone who seems plausible tells me that they have traded the (say) the five minute chart using a particular method and made a profit over thousands of trades, I regard that as evidence. Also, I’m more interested in the theoretical underpinnings of a methodology than the empirical evidence, given that markets change and are designed to remove edges over time.

Try to make a system out of those feelings. Try to code those feelings. This inane interchange brought to mind a great line from Graham Greene’s The Quiet American:

“He was impregnably armored by his good intentions and his ignorance.”

Indeed. A failure to communicate:

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:

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• Frequently Asked Questions
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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.

Leave Your Analysis at the Door

Posted on by Michael Covel

Feedback in:

Dear Micheal, I have a question for you that you might be having an answer for it. The question is related to those that try to ignore your market views only because its not based on fundamentals but based on TA [technical analysis], which is a huge debate that has been going on for centuries. For example, when you do your analysis and come up with a result that [the] market is indicting weakness in the medium term but market continues going higher and after few weeks or a month markets start to sell off aggressively and losing 15% in 1 week. Those people come to you and tell you, “But you where bearish for a long time and market went up and if we sold at that time we would have lost that the extra profit,” while if you told them [the] market could drop tomorrow, and it did they will also say that there was not enough time to get out as your call was late. How do you over come such debate? Appreciate your thoughts. Thanks in advance.

I am a trend follower. None of this debate or analysis applies. Have you read my first two books?

Note: Asking to read my books is not a dodge to his question, but rather an answer that will make his life better if he listens.

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.

The Podcast Competition

Posted on by Michael Covel

Feedback in:

Hey Mike, you continue to make new all-time highs with your podcasts. If you could put out a few more per week, I could cancel my Audible subscription. Just a thought…Awesome stuff!

Jon

I better figure out what Audible is!

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.