Hello Michael, I trust this email finds you in good spirits! My name is Gabriel. I have taken the time to read through and listen to various audio recordings on Trend Following written by Michael. It is a very intriguing area and I thoroughly enjoy the teachings it espouses. I am taking the time to write this note as I am currently at a critical stage in my life. I am currently 36 years old and have just had my third child. We have a 7, 2 and now 2 month old child. This is the reason I write this letter to you. My whole life I have been in commission only and/or independent contract/sales positions. So basically I have always “eaten what I killed”. Over the last 4 years I have expanded my operations and managed upwards of 60 of my own staff and personnel in an attempt to experience exponential growth within our business. Slow sales and non-producing sales reps along with non-paying tenants within some of our rental properties has inevitably caused a downward spiral for us, however we are still working hard to rebuild after these hiccups. Admittedly my partner would like to add more stability to our lives. I am an entrepreneur, sports enthusiast and competitor in everything I do. Hence the difficulty in me going out to work a “9 to 5” where I may or may not control my own destiny under someone else’s watch. I have had a desire to get into Trend Following for several years now but just never found the opportunity to say “I am ready, let’s do this.” I know you have spoken to many people across various walks of life all with varying levels of expertise, experience and life goals. I strongly believe in your message, and see this as a leap of faith to put my head down and study/work within all that I can in the Trend Following space. I just don’t know where to start. Admittedly, financial independence is a goal for me to achieve to give my family. I will never stop working, but most importantly love to win! I just don’t know what I should do, when I should do it or what is the best way to get started. II look forward to any feedback you can give me on this opportunity and working within the space.
There is no quick answer. Best bet? Focus on you, and not working for someone else in the trend following space. How to make the focus on you? Three ways:
The first two will only cost you time.
I’ve been a long time follower of you and as a huge fan and enthusiast of your work, I HAD to write you to express my sincere gratitude regarding your coverage on the subject of trend following. Your knowledge and breath about the topic is not only refreshing, but incredibly insightful as I grapple a working investment strategy of my own.
I continue to listen to your podcasts and read your books. I was wondering if you could perhaps do a podcast on how one creates a ‘system’? Could you go into detail about how to create a model, what metrics or analytics one should use, look at, or consider? I would love to learn more about the anatomy of ‘the system’ and the psychology and decision-making behind placing trades.
I’m a novice financial guy, but am obsessed with learning and wanting to win. How cool would it be if there was another Richard Dennis type that decided to create a turtle trader-like experiment.
I have discussed an assortment of topics across hundreds of podcast episodes (many that you raise), all for free. My books? Examples like your desires across them. Much detail. However, for those clients that want even more personal support my products online (Go) are an option. Thanks for your interest and great feedback!
Hi Michael, so I’ve read the book Linchpin and indeed is full of great advice. It reminds me of the book The Leader Who Had No Title, by Robin Sharma, and I totally agree with the philosophy that everyone should do their absolute best and create “art”. Now I understand better your business model of giving so many gifts to the community like your podcast (which I started listening), your PDFs, videos and all that; I wanted to thank you for offering so many valuable information to the world. Now, Linchpin focuses mostly on how an employee should act and think, indeed the ideas can be applied to entrepreneurship as well but the thing is that I want to excel in the financial markets and there’s not much art you can do there. Here’s the thing, I have a vision in mind to make Master of the Universe type of money. I want to become a Market Wizard and I want your advice. My plan for now is to simply learn as much as I can from the experts (like you and [name]) and start growing my account. My question is, is there a better way? should I be looking to go into the money management business, maybe go work for a hedge fund or open one? Or can I achieve my goal just by trading my own account? Which is better? Oh and one more thing, I know you’ve studied Tony Robbins and he kept mentioning that he coached a guy who made $500 million in the 1987 crash, do you know who he’s talking about? Because he never mentioned his name.
I believe the trader Tony Robbins is talking about is Paul Tudor Jones. I don’t think working for a hedge fund is necessarily how you become a hedge fund titan. Starting a hedge fund is the path. Right? Trade your own account, then friends and family, then others. That’s the path.
This is a great compilation of free trend following resources. Dig in!
Send me your feedback and I will send you a free CD:
Hello Michael, I just started listening to your podcast from the beginning and am up to Ep. 39 where you said that If I can show proof of purchase of any of your books you would send additional material to read, (see attachment).
What address can I send to? A day later the conversation continues:
Hello Mike, if this is the same [set of] articles you were giving…then I just received the CD last week. If this is something new to read then you can send it to the following address: [Address]
When I was 18 I really wanted to trade the markets but living in the small town of Stratford, Ontario, Canada, it was hard for me to find an easy way to get into the markets. Back then, (1989), I looked at and plotted charts to see the patterns but was never able to take the next step.
Just so your aware, your podcasts are a real eye/mind opener and reminded me of what I saw back then. I am currently putting my plan together.
My goal is to make money. My plan is to read as much as I can find on the trend following methods. Before I start I plan on reading all 4 of your books at least once and get through 75% of your podcasts, (currently at Ep. 47). At the moment I see my only hold back is fully understanding and setting up my risk management plan and my position sizing. Right now I only have between $5k and $10k, but next year I will have $24k more when I am able to transfer one of my Canadian LIRAs over to the US. Yes, I was a buy and hold guy.
If you can recommend what you think are the best books to read for Risk Management and Position Sizing that would be a great help to me. I have a very analytical mind therefore I plan to tackle Ralph Vince’s books to see what insights I can find there.
Thank-you again for all you have done, Best Regards, [Name]
Same CD! In terms of books check out my favorite books. Thanks for all of the nice words.