Trend Following for Individual Students and New Traders
Michael Covel has been teaching trend following trading to students since 1996. And most of those students often have no initial trend following experience. Our solutions are for everyone and every goal:
- New investors and traders.
- Retirement planning.
- College savings plans.
- Small businesses.
- Portfolio solutions.
There are those who make big money. They have made it for decades. Millions, if not billions. They are trend following traders. You can read about them in Michael Covel's books. Trend following traders make money in up and down markets. They make money in good times and bad. They build diversified portfolios using a disciplined process in the face of dynamic conditions. They trade stocks, ETFs, LEAPS®, futures, currencies, and commodities. Trend following is based on the firm belief that you can only know one true piece of market data: the price. Trend following traders trade the price. They don't study Warren Buffett, value, balance sheets, P/E ratios, or crop reports.
Traders typically fail because they have no trading plan. It's clearly more crucial than ever to become Market Wizard knowledgeable about the real money-making techniques of the great trend traders. It is no longer rational to invest your personal net-worth in a mutual fund hoping for it to only go up. However, many are afraid to learn new ways of thinking, particularly when it comes to their money. However, you have no choice if you want to build a fortune (or a future for that matter). Trend following trading will help keep your emotions in check. Given the current economic climate stabilizing your emotions might be the single biggest lesson you can learn. At the end of the day objective and unemotional is the difference between the great traders who earn millions and losing traders who go broke.
Is formal education needed for trend following? No. A top CEO recently spoke before a class of Harvard MBAs. After his presentation one student asked: "What must we do now?" The CEO replied, "Take whatever money you have not spent on tuition and do something else." His point was clear: formal education means less and less in today's world. Trading is no different. The great traders are not the products of a formal education in business or finance. Bottom line: you don't have to be a Ph.D. or MBA to trade. You only need to have the desire to work hard and learn. If you must have a Ph.D make it a 'Poor, Hungry and Driven' degree instead.
If you want honest, straightforward training, we can help. If you want short cuts and hype, do yourself a favor and move on. This is not for you. The great trend followers don't ask for permission, they don't make excuses, they just do it.
More on trend following by institutions.
More on trend following by college students.