Michael Covel’s Trend Following podcast has delivered millions of listens across 80+ countries for over a decade.
On the podcast, Michael invites you to take a seat next to him as he interviews the world’s top traders. Encouraged by Michael’s skilled and knowledgeable questions, legendary guests reveal the best of their wisdom, strategies, guidance, and trading stories. It is the ultimate mentorship circle serving one To give everyone the chance to learn how to profit in the markets.
This first volume of Trend Following Masters features Michael’s conversations with great trend following traders,
Bill Dreiss, Harold de Boer, Jerry Parker, Tom Basso, Larry Hite, Martin Bergin, Niels Kaastrup-Larsen, Eric Crittenden, Donald Wieczorek, and Robert Carver.
If you aspire to be a Trend Following Master, this collection of amazing interviews is an essential addition to your trading library.
Read during my short visit to Bishan Public Library in Singapore, within two walls and a outdoor facing window, this book is a collection of interviews that author Michael Covel conducted with legendary trend following traders. Covel, known for popularizing the trend following trading strategy, aims to provide readers with an "essential addition to your trading library" by sharing the wisdom, strategies, and trading stories of these masters.
The book features conversations with top trend following traders such as Bill Dreiss, Harold de Boer, Jerry Parker, Tom Basso, Larry Hite, and others. Covel's skilled and knowledgeable questioning, which encourages the guests to reveal their best insights and experiences.
The interviews are described as creating a "mentorship circle" that gives readers a chance to learn directly from these trend following experts. It probably has the same readability as those "CEO letters to his son" type of book.
Recurring themes include the importance of following systematic trading rules, managing risk, and maintaining discipline - all core principles of the trend following approach. While one of his interviewee said that he is systematic trading rules is a bullshit and discretionary trading is better, we know that nothing works in every occassion.
Overall, the book is positioned as an non-technical valuable resource for aspiring trend following traders, providing access to the first-hand knowledge and real-world stories of some of the longest and successful practitioners in the field.
My notes on the vocabularies seen in this book includes: Jerry Parker; Sharpe; Elliott Wave; Systemic Trader vs Discretionary Trader; Fractal Wave Algorithm; Edward and Magee patterns; DUNN; Thomas Basso; Humans move in herds, and they drive the markets up and down. Martin Bergin; Kahneman; Tversky; Correction, pullback, recession; VAR Value at Risk; Standard products has average VAR of 15, which translates into annualised volatility over time of 22%; 20 ATR Average True Range; Jenny Kellams; Niels Kaastrup-Larsen; Richard Donchian; Eric Crittenden; The All-Weather Approach; Sharpe ratio of 3, no down year; Robert Carver; Trading, Fast and slow; Book Systematic trading.