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Tag: trading

Getting Started with Your Trading Business Advice

Posted on by Michael Covel

A recent email exchange:

Justin: I’m not sure if you’d be willing to help, but I’m struggling with the next step(s) for a trading related software/app project I want to pursue. I have the idea/functionality and ideas for pricing models in mind but I haven’t taken the step of getting someone to actually write the application/develop the site. It’s not a terribly complex idea, but it’s related to one of the key areas of success for all traders & I have yet to see a service meet this need. I have no experience in dealing with intellectual property issues so I’m concerned about protecting the idea (if it’s even possible at this early stage). I was wondering if you might be able to provide any insight/advice since I know you’ve had great success in creating proprietary systems. If you need more info to help please just let me know. If you’d be willing to take some time to Skype & talk through it I’d love to have the chance to pick your brain. Thanks for any help you can offer.

Covel: Not sure I follow. Can you be precise what you are doing and how I can help?

Justin: Sorry. I have a trading service/application I want to develop. But I don’t know how to protect the idea or if I even can at this stage as it’s only an idea. I’d love to give you an overview of what it is so you can better understand what I’m talking about but also for honest feedback on the potential value it could provide to other traders but I am very ignorant when it comes to IP. When you were getting your projects going in the past did you protect the idea by something akin to a non disclosure agreement? Or did you have some other means to protect the idea while working with other people to get it from the idea stage to reality? I apologize as I know I’m being vague but I hope this makes more sense.

Covel: There is not a short answer. Best answer? IP attorney time. If not, you probably pay more later than less now.

You may also wish to read my article on Andrew Carnegie’s adress on the keys to success in business and to my David Burkus podcast interview.

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.

Making Money on the Desert Island

Posted on by Michael Covel

Some news can be interesting and entertaining. The majority of news completely wastes your time. But all news does have something in common… It will not help with your trading. Consider the following:

Mike, did you see this? I know you do not like following the news, and I heed your comments you made previously on “it’s in the price”, but if markets such as currencies are zero sum games, if certain parties are colluding to rip money out of the market illegally, then doesn’t this mean that the markets are not zero sum, particularly when adding to the cost of transacting?

Kind regards,
Nick

I don’t understand what this has to do with trading price? Imagine you are on a desert island and you have no news…except price data. Now what? You can make money on that desert island.

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 Neverending Debate: Nature vs. Nurture

Posted on by Michael Covel

Feedback in:

Nick: Michael, And another thing – have you read this book, English top ranking table tennis player who challenges the regular view of natural talent for the 10,000 hours of hard work and experience? I saw him present on Friday evening, very inspiring.

Covel: Video?

Nick: I will see if I can get one, it was videoed.

A few weeks later:

Nick: Mike, Sorry for the delay. Link attached [is] for the introduction to the presentation that I attended, you will see he is very eloquent and [a] polished performer, this video is disappointingly short, if you are interested I will dig out a longer version.

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.

Chosing the Right Trend Software

Posted on by Michael Covel

Feedback in:

Michael, I am a big fan of your podcast. I first heard you and Dan Andrews several months ago. Since then I have read several of your books and started to develop a serious interest in trend following trading. I am hoping you can suggest a good analysis software for identifying trends and paper trading. Thanks,
Nathan B.

Thanks for the nice words. Tradestation.com is a standard. Additionally, you may find systems/training here useful: trendfollowing.com/products & Trend following software.

Note: For others my books.

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.

Rational Logic Means Nothing in the Markets

Posted on by Michael Covel

Greenspan speaks to how irrational markets can be:

Michael, Thanks for making all of your podcasts available to the public. Please keep up the good work. I thought you might find the quote below from Alan Greenspan of interest. It’s from a 10/26/13 interview with the FT entitled “Crash Course”:

“…He [Greenspan] admits that he first saw how irrational finance could become as long ago as the 1950s and 1960s when he briefly tried, as a young New York economist, to trade commodity markets. Back then he thought he could predict cotton values ‘from the outside, looking at supply-demand forces’. But when he actually ‘bought a seat in the market and did a lot of trading’, he discovered that rational logic did not always rule. ‘There were a couple of guys in the exchange who couldn’t tell a hide from copper sheeting but they made a lot of money. Why? They weren’t trading a commodity but human nature…and there is something about human nature which is not rational‘…”

Best,
L.W.

Trend following foundational point #1,232,980.

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.

Can I Have $2,000 to Trade?

Posted on by Michael Covel

Feedback in:

Hi Michael Covel, can I get a sponsorship from you? Because I am requesting 2000 to start trading. Please help me.

Go away. Best advice I have.

Note: I am not being mean either. Far from it.

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.

Your Neighbor Might Not Be Your Best Gauge

Posted on by Michael Covel

Feedback:

Mike, I’m very happy to correspond with you. I have read 80% of all trades are losers. Do you have statical data regarding the success of traders after having taken [your training and applying your systems]? Thank you, Terry

Thanks for the question.

I can teach clients, but I can’t force anyone to disclose anything or track their brokerage accounts. Frankly, I don’t want to force anyone to do anything. You can read success stories from our products here, but ultimately this comes down to a client sticking with a trend trading system.

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.