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“You and I Must be Related”

Feedback in:

Hi Michael,

I’ve been listening to your podcast for over a year now, and it is truly excellent! The interviews, the guests, and the first-rate information they provide is invaluable. I just left a rating on iTunes. You and I must be distantly related (aren’t we all?). My mother’s maiden name was Coval, and her father was John Coval, from the Ukraine (Skala).

Please send me the right trend following steps to continue my knowledge. Also, would you please send me your free video.

Thanks,
[Name]

Thanks, but not related!

How is Covel pronounced? Co-vell. “Co” rhymes with toe. “Vell” rhymes with bell. Equally accented each syllable. It was shortened from Covalesky, which was shortened originally from Kavaliauskas (which is father’s Lithuanian side).

Michael Covel
Michael Covel

More Feedback on the China Experience

Feedback in:

Hi Michael,

I enjoyed your monologue 358 on Beijing visit very much and could not agree more on being on the ground and be more sensitive to the local customs and norms. I would like to get a copy of the free DVD and would appreciate it if you could send to my address below: (I am a subscriber to your website but it seems to reject me sending feedback message).

[Address]

Best regards
[Name]

Thanks!

New Trend Following Chinese Trader

A recent exchange:

Yuhui: When knowing that if someone strictly uses a trading system that its mathematical expectation is positive in a long time then he will get profit, but a question suddenly came to my mind: What will happen if everyone trades like this? Although in your book[s] you have listed several reasons why there are always many people won’t be the trend traders, but [a] positive math expectation trading system can be easily written to the computer and automatically executed by the computers now. Meanwhile, It’s said that this kind automatic trading system is already generally used in the futures market. I want to know what do you think how trend-trading will [perform] when in this condition. What’s more, I’m wondering about how your life is currently. As a successful trader are you living a free and relaxing life, or busy in dealing with the matter of your company. Finally, if possible, expecting the trend-following DVD, my address is [address] and my telephone number is [#], and my name is Yuhui (喻 辉).

Covel: My five books outline why not everyone will become a trend following trader. It’s often against human nature and people dislike drawdowns. They seem more comfortable with black swans that wipe it out all (their accounts that is). You can follow my life here: podcast.

Yuhui: Thanks for replying. Have read your books again and again and some story impressed me very much. Also read the reason you list why not everyone become a trend following trader. But once upon a time I read a book and remembering that the introduction of the author saying that his average income of programming automatic futures trading system can be up to 8% per month. So I just have an idea that what if everyone trades like him in the market? Maybe this condition will never happen because people are easy to be influenced by the cognitive bias in the trading, but somehow I still feel confused about this. And here is my address in Chinese and English.

Covel: 8% a month? Not a wise goal. That will not happen on a consistent basis that you can count on.

No Desperation

Feedback:

Good Day Michael, I received your letter and DVD and am really interested in learning the techniques of trend trading. I have lost a large number of money using Futures and CFD trading platforms in South Africa. Only to uncover that the company whom I used to trade with was actually ripping me off, they use internal stop loss hunting systems and internal trading desks basically to defraud unknowing small traders like myself. I reported them to the Financial services board in South Africa and the case is currently under investigation. So to say the least I am very skeptical about trading again due to the large amount of Rands I have lost. I guess part of the reason I lost the funds was a mixture of greed, fear and ignorance. Not that I am wealthy to say the least I used my investment savings payout of 10 years, as I thought I could fast track my pension savings. Now I am self-employed and do not have any real spare cash to play around with and risk losing again. I do however feel positive after reviewing your website and in Rand terms the investment required to sign-up is quite significant for someone who has 3 small kids and a wife to support and who is self-employed. But I am prepared to take a calculated risk this time and educate myself first with a winning system, but also I need to know that the trading platform that will be used is not stacked against me the trader and it appears as your is actually stacked in favor of the trader. I hope your special offer can make it affordable or maybe you have a special payment plan option that can make it affordable to become one of the students of the process. I hope to hear from you soon.

Trend following trading is not something that relies on a broker or some other financial shark. It is based on price movements and philosophically on your entrepreneurial desire. It is a trading style that can put the odds on your side. However, no one should make any investment or start any investment research with desperate money. However, if you know your risks–no one should tell you to stop moving ahead.

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