Ep. 1369: Trading Mindset with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 15 December 2025

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Please enjoy my monologue Trading Mindset 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	reaching out to you from the parts unknown. Somewhere I happen to be in America this December
0:07.2	2025. And I want to reach back into the archives a little bit for a reminder. A reminder about
0:14.4	great trading. And in particular, a great trader. Look, everyone knows my specialty is trend following, but I do have
0:23.9	respect for those traders who have consistently done very well with different strategies.
0:32.1	My guest today is one of those traders. A legend.
0:39.0	I hope you enjoy.
0:40.7	And next week,
0:44.0	a full-throated monologue is coming.
0:45.4	See you soon. Thank you. I first reached out to my guest today in 2005.
1:05.0	It just struck me.
1:06.7	And we talk about it in our conversation.
1:08.9	Nine years ago.
1:11.4	Damn.
1:12.7	Time flies.
1:15.1	Toby Crable is my guest today.
1:17.3	Crable Capital Management.
1:20.0	Short-term systematic trader, quant.
1:25.2	Very different than most of my world.
1:29.2	Now, a lot of commonalities.
1:32.2	Price action-driven, systems, models, risk management.
1:39.4	But Toby is working on a whole different time frame, turning his portfolio over typically in less than a day.
1:47.7	But I still remember our first meeting. It was a great conversation. And what struck me about
	...

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