Ep. 370: Instruments vs. Strategy with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 10 August 2015
⏱️ 36 minutes
🧾️ Download transcript
Summary
Please enjoy my monologue Instruments vs. Strategy 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
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| 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. |
| 0:21.1 | I am your host, Michael Covel. |
| 0:24.0 | Not filtered, raw, honest. |
| 0:27.3 | That's my passion. |
| 0:33.1 | You trade markets. |
| 0:36.2 | You invest in markets. A market could be a stock. It could be an index. It could be a commodity. It could be gold. It could be silver. It could be palladium. It could be oil. It could be a currency. |
| 0:56.0 | It could be the Swiss franc. |
| 0:58.0 | It could be a bond. |
| 1:00.0 | They're all markets. |
| 1:02.0 | People buying and selling. |
| 1:06.0 | There might be different fundamentals behind all of those markets. |
| 1:10.0 | I'm sure there are quite different fundamentals behind all of those markets. I'm sure there are quite different fundamentals behind all of those markets. |
| 1:15.0 | But people are the same. |
| 1:17.9 | People buy and sell with the same motivations, the same rationales. |
| 1:23.6 | And at the end of the day, there is great evidence that ignoring the fundamentals and going |
| 1:30.2 | straight to the price action, straight to what that market is being traded at right now, |
| 1:38.0 | is the best way to go about long-term success. |
| 1:44.0 | Let me clarify about markets. |
| 1:46.7 | Someone asked me the other day, they said, where do I learn to start trading stocks? |
| 1:52.1 | And I said, well, stocks are just a market or an instrument depending on what you mean. |
| 1:57.8 | But just saying, I want to trade stocks or you trade stocks, that's not a strategy. |
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