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

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covel, not filtered, raw, honest.

That's my passion.

I'm going to go in for part two, perhaps this is part three, part four. Maybe it's part 500. I'm not sure.

I'm going to be patient. That's what I have to do. If I want to get this idea across, what is this idea?

Price. Price action. I've put this in my book before, my book trend following.

What are the three best indicators? One price. Two, price. Three, price. I talk about price action

nonstop, but I've been doing this for a long time.

I've got a blind spot.

I don't think the vast majority of the population out there understands the idea that you can look at prices of a market.

That market could be, for example, Tesla. So let's say all you could look at

was the price history of Tesla. And let's just assume all you could see was the closing price

each day of Tesla. So now you are on the hypothetical desert island.

All you have is a piece of paper. And on that piece of paper, it tells you the closing price for

Tesla for each day, each trading day, Monday through Friday.

But you don't even know it's Tesla.

Now, really think about what I'm telling you.

That's all you've got.

The closing price of some unknown market.

We know it's Tesla, but the people on the desert island don't. Now, can you trade that

if you have no contact with the outside world? I mean, outside world, if you got to call your broker

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