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Tag: sports

Ep. 507: Lanny Bassham Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Lanny Bassham
Lanny Bassham

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My guest today is Lanny Bassham, an Olympic gold medalist. After falling short in the 1972 Olympics winning the silver medal rather than gold, Lanny went home and re-applied himself. He returned to the 1976 Olympics and won the gold medal in rifle shooting. For the past 40 years, he has provided “Mental Management” training programs to clients including PGA Tour golfers, Miss America finalists, CEOs, US Navy SEALs, SWAT teams, and the FBI. In addition, Bassham briefly headed the U.S. Olympic shooting team and has operated the company Mental Management Systems with his wife Helen in Flower Mound Texas since 1977.

The topic is his book With Winning in Mind.

In this episode of Trend Following Radio we discuss:

  • Creating a mental process
  • Changing your self image
  • How the top 5% think
  • Hard work in practice vs. Hard work in tournaments
  • Thinking of process not outcome
  • Valuing performance not just participation

“A lot of people chase the ‘skill’ thinking that is all they need.” – Lanny Bassham

“Outcome will always follow process.” – Lanny Bassham

Mentions & Resources:

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Billy Walters Interview

Posted on by Michael Covel

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
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• 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.

Finding Opportunity Means Taking Shots: Same for Football, Same for Trend Following

Posted on by Michael Covel

Excerpt from here:

In finding Leach, an alumnus and fellow acolyte of BYU, Mumme stumbled upon the Paul McCartney to his John Lennon. Neither one of them gave a damn about college football’s hallowed traditions. Both cherished the lessons you could learn from heroic iconoclasts like Davy Crockett or Geronimo. And both liked getting in the car, blasting Jimmy Buffett and driving to any football practice in the country where they thought they could snatch up another crazy idea and make it part of their oeuvre.

More:

Well before Gus Malzahn and Chip Kelly were riding their wide splits and hurry-up offenses all the way to the BCS championship game, Mumme and Leach were running the concept on a small practice field in Mount Pleasant, Iowa. “The more shots on goal you get, the better,” Leach says. “That’s how we saw it. And with so many people touching the ball, it elevates the enthusiasm of the whole team.” In their three years at Iowa Wesleyan, the Mumme and Leach show went 25-10 and led the nation in passing once and finished second twice.

“The more shots on goal you get, the better” is the reason why you CAN’T be a trend follower on one market alone. You need opportunity. Trade one market, you are limited to one opportunity. It’s like running the fullback straight ahead for 3 yards every play. Bad strategy. You need diversity in opportunity.

Bruce Lee on Opportunity

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. 94: Tushar Chande Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Tushar Chande
Tushar Chande

My guest today is Tushar Chande, a trader, author,co-founder and head of research at Rho Asset Management in Switzerland. Chande has had a long and distinguished career in technical analysis; he brings a unique perspective on how to look at the markets as a trend following trader. He came to America and earned his Ph.D. in metallurgical engineering from the University of Illinois in 1984. 

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • Early influences, and chart the journey from his days as an engineering student to his accomplishments as a systematic trend following trader
  • Analogy between sports and trading, how the best sportsmen rely on having a stable and predictable environment (unlike the markets)
  • Evaluating performance within the context of the market
  • Discretionary trading v. systematic trading
  • Learning through “trial and terror”
  • The Rho Trend Barometer and the ability to quantify the environment
  • The problem of indexes
  • The Sharpe ratio
  • The importance of market movement to trend following trading
  • “The black box disease”
  • Trusting your system
  • Cognitive biases
  • The benefit of the “black swan” and outlier events and why these events are so beneficial to a trend following system
  • Whether “one-hundred Ph.D.’s are better than one”

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