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Tag: Trend Following

Martin Klitzner of Sunrise Capital: In Memoriam

Posted on by Michael Covel

In putting together my book The Little Book of Trading I had the opportunity to talk with most of the office at Sunrise Capital. Marty Klitzner was one of the first people I met with there. He was President of Sunrise. From my perspective one of his roles was clearly as gatekeeper and I later learned that he was a good deal of the business success behind the firm. Unfortunately, Marty passed away on April 14, 2012 in Del Mar, CA.

I remain always thankful that men such as Marty, men with decades of trend following experience, would give me their time and knowledge.

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. 11: Tim Pickering Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Tim Pickering
Tim Pickering

My guest today is Tim Pickering, founder/president and lead portfolio manager of Auspice Capital. Pickering has over 15 years of commodity and financial trading experience. Prior to forming Auspice, Pickering was Vice President of Options Trading at Shell Trading Gas and Power in the Houston and Calgary offices. He began his career at TD Securities in Toronto in their elite trading development program and gained experience in a wide expanse of capital market products including foreign exchange, bonds, money markets and derivatives. Ultimately, Pickering held the Senior Trader position for the energy derivatives portfolio. He has extensive experience trading OTC and exchange traded options, futures, swaps and quantitative trend following systems.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • Some of his beginnings
  • “Black boxes”
  • Indexing
  • Classical vs. “next generation” trend following

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The Moment One Definitely Commits Oneself, Then Providence Moves Too

Posted on by Michael Covel

William Hutchinson Murray, The Scottish Himalayan Expedition (1951):

“Concerning all acts of initiative (and creation), there is one elementary truth, the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, then Providence moves too. All sorts of things occur to help one that would never otherwise have occurred. A whole stream of events issues from the decision, raising in one’s favor all manner of unforeseen incidents and meetings and material assistance, which no man could have dreamed would have come his way. Whatever you can do, or dream you can do, begin it. Boldness has genius, power, and magic in it. Begin it now.”

THAT is so critical to trend following success, or any success for that matter.

Note: Tip to Tim Ferriss.

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.

Trend Followers Are Lone Wolfs, Not Coyotes

Posted on by Michael Covel

In a new book derived from his letters the late General Patton offers:

“It never pays to fight an underdog. You can fight for them, but never against him.”

He also wrote down very appropriate advice for investors even though probably not intended as such:

“It is very foolish, but quite understandable, that one should run around raising hell, but it gets one nowhere and betrays a lack of self-confidence. A man who is self-confident does not run around with a gang. It is much better to be a lone wolf than a coyote.”

Trend following 101 wisdom. Stand your ground by yourself. Avoid running with packs of coyotes, even though the vast majority of modern society has become a coyote pack. Packs don’t hold the secret to wealth.

Note: Thanks to Ed Moy for the idea. Also be sure to check out Patton i read your book!

Ep. 5: Nick Radge Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Nick Radge
Nick Radge

My guest today is Nick Radge. Nick has been trading and investing since 1985. During this time Nick has worked for numerous international investment banks and spent time on the trading floor of the Sydney Futures Exchange. In 1998 Nick returned to Australia and started his own hedge fund and until 2005 he was an Associate Director at Macquarie Bank.

The topic is his book Unholy Grails – A New Road to Wealth.

In this episode of Trend Following Radio we discuss:

  • Nick’s beginnings
  • The analogy of hitchhiking to trading
  • The necessary emotional constitution needed to successfully stick with a trend following trading strategy
  • The popularity of algorithmic trading jargon
  • Risk management

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“Torturing the Data” Is the Siren Scream of a Coming Looter

Posted on by Michael Covel

Fred Munger once said:

“If you torture data sufficiently, it will confess to almost anything.”

When you hear market cons talking of data mining, endless optimization, & torturing data, etc., check to see if your wallet is still around. Good trend following trading systems fit like a loose mitten, not a tight glove.

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 Winton Papers Revisited

Posted on by Michael Covel

Feedback in:

“Hi Michael, as you know I love your work and keep buying copies of your books for friends, family and clients. I know you say that persistence pays off and I am working hard on implementing trend following in my business and also in my investing life. I have been trying to hunt down those Winton Papers that Mr. Harding gifted to you. In Australia [name] has a Managed Account with Winton that they allow retail investors to invest in, so we have started placing client monies with Winton. I have had a number of clients call in happy that Winton and Aspect made 10% last year when Aussie equities dropped 10%. I have asked all the [name] associated with Winton if they have seen [The Winton Papers]. No such luck. This morning I attended a presentation where Winton was one of the managers. As usual Winton was last so I had to listen to two other fund managers explain how great they were even though their 5-year returns were negative (both fundamentalists). Winton was represented directly by staff. One was [name], who is a wonderful lady who had just started. I have spoken to her previously…and had inquired if she had seen the papers. She came back questioning if the “The Winton Papers” were a figment of my imagination. More importantly, employee number [blank] at Winton (that was used in his intro) was [name]. He managed to confirm that yes they existed (which I already knew; see your blog 2010/11/06), however, he did not have a copy. So I guess what I am asking is there any chance you have a soft copy of the papers? Or would you like to sell your copy? Or maybe I could rent them for a period of time? Anyways hope business and family are going well. Thanks in advance. Kind regards, [name]”

Yes, I have a copy of The Winton Papers, but I have not been granted permission to distribute.

Note: David Harding of Winton Capital is profiled in my book The Little Book of Trading. He also appears in my film Broke. He has made $1 billion USD from trend following.

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.