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Tag: market wizards

Where To Start in Trend Following…

Posted on by Michael Covel

Feedback in:

Hi Michael Covel, my name is [name] and I graduated from Rutgers University last year with a BA in Mathematics and Economics. I have been following your podcast and have read a couple of your books and am very interested in pursuing a career in trend following. I was always disenchanted with the investment banking paradigm, but really believe in the power of trend following. I have been following the markets for the past 5 years and have invested some of my own money during that time. What are some good ways for a guy just starting out to get his foot in the door in this industry? I believe the experience that comes with working for an experienced trend follower would be invaluable. I look forward to hearing from you soon.

Read Linchpin by Seth Godin.

Read Atlas Shrugged.

Read Jack Schwager’s Market Wizard books.

Read my four books.

Listen to all podcast episodes.

Knock on doors if you want a job.

If you want to be a trend trader? Get a system and start trading.

Short list–lots of advice.

Note: Be prepared to never be hired by a trend trader. Then what? Back to my list. You can also consider other options 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.

Ep. 96: Critical Thinking with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Critical Thinking with Michael Covel on Trend Following Radio
Critical Thinking with Michael Covel on Trend Following Radio

Please enjoy my monologue Critical Thinking the Trend Following Way with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

Listen to this episode:

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

Ep. 76: Jack Schwager Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Jack Schwager
Jack Schwager

My guest today is Jack Schwager, a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books. Schwager is one of the founders of Fund Seeder, a platform designed to find undiscovered trading talent worldwide and connect unknown successful traders with sources of investment capital. Previously, Schwager was a partner in the Fortune Group (2001-2010), a London-based hedge fund advisory firm.

The topic is his book Market Sense and Nonsense: How the Markets Really Work (and How They Don’t).

In this episode of Trend Following Radio we discuss:

  • How Schwager was able to make “Market Sense and Nonsense” accessible to both professionals and laymen and touch on some of the subjects contained within: market fallacies and misconceptions
  • The idea of cable news “experts”, and what would happen if you actually followed all of the picks made by people like Jim Cramer and other talking heads
  • Comparing performance streams against each other, and why you have to consider more than just the number
  • Volatility vs. risk
  • If coming to a good risk adjusted return is based more on a scientific approach or personal preference
  • Leveraged ETFs
  • The fear of hedge funds
  • The idea of leverage and why much of “Market Sense and Nonsense” was built around trying to understand it
  • Why fund-to-fund managers putting a large group of trend following traders together in one portfolio might not be a wise move
  • Presidential election and discuss why whoever is selected to be the next president might not make much of a difference in the markets

Listen to this episode:

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I Love How Larry Hite Thinks

Posted on by Michael Covel

Had a chance to catch up with Larry Hite yesterday on the phone. A great line paraphrased from him during our call:

“[Some people] have a handicap–they are beautiful and smart (heavy on the sarcasm). How do they get around that? You need to always have an extra motivation–a real handicap even if imagined. You need it to do more, stand out more and be more creative.”

Always love to hear Larry think.

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. 18: Jack Schwager Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Jack Schwager
Jack Schwager

My guest today is Jack Schwager, an American trader and author. He is the author of the Market Wizard series. His books have remained relevant over the past 25 years, and for many traders they are the best trading books on the shelves today.

The topic is his book Hedge Fund Market Wizards.

In this episode of Trend Following Radio we discuss:

  • Some of the commonalities between the many traders Schwager has interviewed, and the lessons that can be gleaned from their diverse approaches
  • Schwager’s new book opens with a quote regarding the importance of even-mindedness from rock climber Alex Honnold
  • How topics seemingly unrelated to trading can contain relevant lessons
  • Many of the other traders profiled in Hedge Fund Market Wizards are discussed, including Ed Thorp, Steve Clark, Jaffray Woodriff, and Ray Dalio.
  • Schwager’s big takeaways from his interviews have been, and the lessons he’s learned from talking to some of the most successful traders in the game
  • How markets behave differently in different environments
  • The importance of asymmetric positive skew trades
  • How diversification is the “only free lunch on wall street”
  • How Schwager defines risk
  • The “gain to pain” ratio

Listen to this episode:

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Trust, But Verify … Is Always Prudent

Posted on by Michael Covel

Feedback in:

I am currently reading “Market Wizards” and came across an interesting quote by Michael Marcus, who said, “I do believe that trend following systems are doomed to mediocrity. I believe that the era of trend following is over until and unless there is a particular imbalance in a market that overrides everything else.”

That book was written over 20 years ago. What has happened since?

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.

Inspiration from Top Trader: Kevin Bruce

Posted on by Michael Covel

Feedback in from a client:

“I’ve been re-watching the DVDs and I have to say the Kevin Bruce one is my favorite. The guy was self taught!?! Started with 5k?!? (even accounting for inflation is still amazing), developed a system with a hand-held calculator in a gas station [while working his way through college]!?! That’s amazing. The best part was when the lady at his gym thought he was a construction worker.”

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.