Join over 10,000 people who receive Michael Covel's newsletter & podcast episodes.

as seen on:

Keep Records or Lose

Nearly every profitable trader keeps continuous and detailed records of their trading decisions, thoughts and observations. Recording in written form forces them to function in a disciplined manner. Details on paper structure the decision making process. Anxiety, greed and fear are replaced with confidence and determination.

A constant review of the decision-making process that goes into each trade is not enjoyable. But, the process of self-examination is crucial to successful trading. Unfortunately, only a small percentage of traders are willing to look inward and record what they find. Can you?

First, develop and maintain a record-keeping system that works for you. Second, critique your performance in writing each day. Third, write down your personality characteristics (Maybe even take a personality test). Those parts of your personality that make you a successful trader, and those parts you must constantly guard against. These three actions alone impose discipline. Fourth, write down your trading rules and educate yourself as much as possible about them. Fifth, if you find yourself falling for hype, don’t. Just because most people are looking for Vegas and excitement, doesn’t mean you must.

Learn Trends and Win

Geometric Progression. Sounds like a complicated math theorem. It’s actually a good term for what happens inside of a big trend. Epidemics are an example of geometric progression. Starting with only a few people, an infectious disease like TB or measles can spread through a population infecting more and more as it multiplies again and again.

Market trends are no different. Extreme market trends can appear from out of nowhere moving either up or down. These trends often feed upon themselves and can quickly progress geometrically allowing an opportunity for huge profits if a trader got into the trend early with a plan.

However, to appreciate why market trends, or epidemics, can be so powerfully rewarding there can be no expectation of proportionality. People may be afraid to work with this type of progression, because the end result so often seems out of all proportion to the cause. The progression takes on a life of its own that may seem out of control and irrational. With trend following, there is always the possibility that big market changes may follow extremely small events, or that a change can happen very quickly. The appreciation of geometric progressions comes from understanding and being prepared for them. Trend following trading is designed to find and exploit those market trends long before they arrive on the radar screen of the masses.

Trend Following Products

Review trend following systems and training:

Michael Covel Trend Following Products

Michael Covel Trend Following Products

More info here.

Trend Following Books
Trading Systems

Pricing for trend following systems, risk management, trading psychology and black swan strategies. Absolute return systems and education for brand new traders and established pros. Thousands of clients across 70+ countries. Client feedback.

Podcast

The Trend Following™ podcast. Listen now on iTunes and Android. Top authors and traders plus alternative commentary. 3M+ listens across 188 countries & territories.

Small Town Guy Makes Millions

His trend following experience on video sent to your home. Get your free video delivered immediately.

TurtleTrader® Site Map

Small town guy makes trend following fortune. His free lesson delivered on video: GET VIDEO NOW.