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“The podcasts help…to inspire, educate and reinvigorate my ‘animal spirits’ as I ride the bucking bronco each and every day.”

Posted on by Michael Covel

Feedback in:

Michael: I wanted to reiterate my ongoing appreciation for your passionate pursuit of trend following. The podcasts help a great deal and they serve to inspire, educate and reinvigorate my “animal spirits” as I ride the bucking bronco each and every day.

Recognizing a free market is not a free lunch, and that your generous and copious free content must be supported, I bought kindle versions of Trend Commandments and The Little Book during the past month. They occupy space with Reminiscences of a Stock Operator*, The Capitalist Spirit by Yale Hirsch and Morales & Kacher’s book Trade Like an O’Neil Disciple. (*The Jon Markman version is a great edition of this trading classic, offering deep historical context throughout the entire book.)

In fact, the very first kindle book I purchased was a new edition of Trend Following, putting the “smart” into my smart phone. 🙂

Whenever new editions come out, of course, they will be purchased.

It all began with email back in 2003 or so. That first tuition seemed “pricey” but I have made (and lost and made) multiples of that over time. The real tuition was the time spent putting the lessons into practice.

Thank you again for the spark, for I shall keep the fire burning bright and hot.

Best,

Edward

Thanks Edward!

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.

Ep. 49: David Cheval Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
David Cheval
David Cheval

My guest today is David Cheval. Cheval was an inside witness to Richard Dennis and Bill Eckhardt’s famed Turtle experiment. Through the involvement of his former wife, famed original TurtleTrader Liz Cheval, David Cheval’s history and background for the Turtle story comes from a unique vantage point.

The topic is Turtle Trading.

In this episode of Trend Following Radio we discuss:

  • Events surrounding the Turtle experiment, including his own interesting part in alerting his former wife to the opportunity (he is still an investor in her firm)
  • Cheval’s progression from a runner on the Chicago pits, to the formation of his CPO (Dearborn Capital Management), to his career in law today
  • The presence of Richard Dennis on the Chicago Board of Trade in the years prior to the Turtle experiment
  • Some of the lessons that can be gleaned from some of the most successful Turtles
  • The difference between volatility and risk
  • Why basic trend following philosophies are timeless

Listen to this episode:

Jump in!

Mark Douglas Spot On: In the Zone

Posted on by Michael Covel

Mark Douglas offered:

1. Anything can happen.
2. You don’t need to know what is going to happen in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over the other.
5. Every moment in the market is unique.

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.

Larry Hite on “Being Wrong”

Posted on by Michael Covel

An excerpt from The Little Book of Trading:

One final important gem from Larry Hite is that being wrong is okay. He says he was never very good in school and not much of an athlete either. But he turned that to his advantage because he was able to grasp the idea that he could be wrong. In fact, it came as no surprise to him when he was wrong. Hite recalls with pride: “I’ve always built in an assumption of wrongness [in my trading]. I always ask myself: What is the worst thing that can possibly happen in this scenario? Then I use that worst-case scenario as my baseline. I always want to know what I’m risking, and how much I can lose. And sometimes, when you really look at it, there’s really not all that much risk [which is why you can get rich].”

More on Hite.

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 Goal Is Not How to Get an A in “How to Read a Balance Sheet”

Posted on by Michael Covel

It does not matter if you’re trading stocks or soybeans. Trading is trading, and the name of the game is to make money, not get an A in “How to Read a Balance Sheet.”

Technical analysis, the other market theory, operates in stark contrast. It is based on the belief that at any given point in time, market prices reflect all known fundamentals for that particular market. Instead of trying to evaluate fundamental factors, technical analysis looks at market prices themselves.

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.

Great Trading Is Not Some Sixth Sense

Posted on by Michael Covel

Tom Willis, a close friend of Richard Dennis, the father of the Turtles, put it succinctly:

“Are Turtles grown, or can they be taught? Do they have a magic sixth sense or something? The jury is in, isn’t it? They’d be better off having the knowledge implanted than relying on a sixth sense. I think I could take a kid who wasn’t my son and say, ‘Do this, I’ll pay you $50,000 a year, or you’re fired if you don’t exactly follow it.’ He’d beat me every day, every week, every month and every year.”

Two books that back that notion of practice and teaching?

The Talent Code
Talent Is Overrated

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.

Don’t Worry About How You Get a “Stake”–Just Get One

Posted on by Michael Covel

From The Little Book of Trading:

Kevin Bruce is living proof that there is no need to be in New York, London, or Chicago–flaunting a sharp business suit and trading in a sky rise. Bruce is a small-town guy from Georgia with no ancestral connection to Wall Street, who has not only made it on Wall Street but conquered it. Heed his path.

Bruce spends his time far away tucked in quiet spots in Richmond, Virginia. He works out six times a week at his local YMCA, and still drives his 1996 Ford pickup. With a net worth of nearly $100 million, he prefers to live life just as he always did before making that fortune. He is low profile. Most people have no idea of his wealth. He says, “I guess that means I’ve done a pretty good job of just being me.”

More:

While Bruce was crafty in his early trading, almost tripling his initial seed money, he was really crafty in the way he built up his $5,000 nest egg. When he was about 15, he started the practice of packing a lunch and taking it to school. The cafeteria food wasn’t great, but he could buy a lunch for just 35 cents. Bruce would meet other kids in the bathroom daily and auction off his home-style lunch. He would then eat the cafeteria lunch–and would usually net about $2. Nice trade!

Inspirational? Yes, absolutely.

Of course, you could always grab a tent, your best protest vibe and head to lower Manhattan to live at Occupy Wall Street. However, I am willing to bet the next Kevin Bruce is not hanging out there.

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.