Ep. 1059: Wake Up and Think with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 18 March 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Please enjoy my monologue Wake Up and Think with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

Click on a timestamp to play from that location

0:00.0	This is trend following radio where great thinking comes alive.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:21.2	I am your host, Michael Covel, not filtered, raw, honest.
0:27.4	That's my passion.
0:33.4	I've got another email.
0:36.0	Real nice guy from another continent that I'm on right now. Not a Western guy, but his English was really good. I think English was his primary language.
0:47.8	Tells me that he's read my book, Tren Commandments, and is asking me about candlesticks.
0:55.2	What is with this candlesticks crap?
0:59.6	How have all of these people been convinced that candlesticks are somehow or another connected
1:07.3	to trend following?
1:08.6	So you're going to follow these candlesticks and they're
1:11.9	going to do what? Predict the next tick, the next five minutes, the next 10 minutes, the next day,
1:18.7	the next week. Prediction is bullshit. If we could all predict so smartly, if we were all so damn wise, I'm speaking rhetorically,
1:34.0	then everybody would be long commodities not just yesterday, but several steps ago,
1:42.0	long before the news from Ukraine, long before the most recent COVID news, because something was telling you that Mr. Commodities was headed north, was headed up.
1:58.3	Do you know what it was?
2:00.0	Not CNN, not Bloomberg, not Fox, not CNBC,
2:06.4	none of that crap. Commodities were telling you they were going up because they were going up.
2:14.7	The price was telling you the gradual increase of price and then the parabolic move up.
2:23.3	It's the gradual part that you weren't paying attention to. Everyone got excited with the parabolic, right?
2:30.3	Because everyone knows a shit pot of money was just made. But it's the gradual where you got in.
2:38.6	What are you going to do? You're going to get into the parabolic top? Maybe yeah, okay. You get into the
	...

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