4.6 • 730 Ratings
🗓️ 9 July 2021
⏱️ 16 minutes
🧾️ Download transcript
Please enjoy my monologue Keep Making Decisions 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!
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 Coval. |
| 0:24.0 | Not filtered, raw, honest. |
| 0:27.4 | That's my passion. |
| 0:33.5 | Let's say you make a bad decision. |
| 0:36.0 | You do some stupid ass. You know what. And you go the wrong direction. Let's say you make a bad decision. You do some stupid ass, you know what, and you go the wrong direction. |
| 0:41.3 | Let's say, like me, circa a long time ago, you decide you're going to get a politics and government degree, a BA in politics and government, what it was called at the time at George Mason University. |
| 0:56.3 | Okay, I made that decision. I guess I could have stuck with going down the political direction, |
| 1:02.0 | but I did not. I made a pivot and another pivot and another and another and another. And the |
| 1:10.0 | damn pivots have never stopped. You see, life |
| 1:14.1 | is an experiment if you are wise, meaning you can't predict a damn thing and you keep making |
| 1:21.3 | adjustments. You adjust on the fly. So if you make that bad decision, whether it's some school degree or some job or some |
| 1:30.2 | relationship, take your loss, get out, move on to the next. What happens if the next goes south? Get the |
| 1:39.2 | hell out again and again and start over and again and start over. and again and start over. |
| 1:45.6 | That's all you got. |
| 1:50.8 | You see, society has crafted this narrative that we're taught. |
| 1:57.3 | If you follow the rules, K through 12, when you're a kid up until like age 17 or 18, |
| 2:03.9 | and you go to college, there will be a magic job out there for you and some daddy figure to protect you at night and tuck you in. Now, this is primarily an American narrative, |
| 2:10.8 | but Western Europe as well. It exists in other countries. This is nonsense. The real world is about taking a risk and another risk |
| 2:20.7 | and another risk and the risks don't stop. What do I mean by risk? Trying something new. |
| 2:29.2 | Trying something where you don't know the outcome. And then, perhaps, and this will happen many times, |
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