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Michael Covel's Trend Following

Ep. 132: Emotional Rescue with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6732 Ratings

🗓️ 25 June 2013

⏱️ 29 minutes

🧾️ Download transcript

Summary

Please enjoy my monologue Emotional Rescue 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

The This is Trend Following Radio, where great thinking comes alive.

0:32.1

Nobel Prize winners, legendary traders, best-selling authors, and the pros that know what drive us irrational human

0:40.5

beings. I am your host, Michael Covell, not filtered, raw, honest. That's my passion.

0:59.8

You know, there's something noble about it, the idea of work.

1:02.1

I mean, I love work.

1:04.6

Work that is my passion.

1:07.5

Work that is my creativity, my soul.

1:11.0

Inspiring other people.

1:16.6

Waking up every day, excited, excited to do something new,

1:19.4

excited to offer a perspective.

1:30.4

Perhaps all my time and energy put into my craft can give somebody else a head start, a perspective that they might not otherwise have in what we call trend following, trend following trading. But it's tough. There's all kinds of forces

1:41.3

that we're up against.

1:46.9

And I really view this episode of my podcast, this monologue, as an emotional rescue, so to speak.

1:56.5

Especially since, I think, what, the Chinese stock market was down 6% today.

2:03.0

That's a pretty significant move for one day.

2:06.5

You do three or four days a 6% down and you got a little bit of a panic on your hands.

2:12.9

And frankly, I think anybody that didn't have a plan is already panicking. They've already reached for

2:20.7

a change of underwear, so to speak. Six percent down in one day. And imagine those folks that

2:30.1

maybe didn't really have a strategy, or perhaps over-leveraged.

2:43.6

But let me stay focused on the idea of the working man for a second, because it is a good thing,

2:49.5

but the working man title is bad for some people.

2:53.5

Because if you put yourself into a position where you're doing work that you don't like and you're showing up every day to clock in for the man and you're not into it,

...

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