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Trend Following with Michael Covel

Bestselling author Michael Covel is the host of Trend Following Radio with 7+ million listens. Investments, economics, decision-making, human behavior & entrepreneurship--all passionately explored. Guests include Nobel Prize winners Robert Aumann, Angus Deaton, Daniel Kahneman, Harry Markowitz & Vernon Smith. Also: James Altucher, Dan Ariely, Jean-Philippe Bouchaud, Kathleen Eisenhardt, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Tucker Max, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams. All 600+ eps at www.trendfollowing.com/podcast.
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Bestselling author Michael Covel is the host of Trend Following Radio with 7+ million listens. Investments, economics, decision-making, human behavior & entrepreneurship--all passionately explored. Guests include Nobel Prize winners Robert Aumann, Angus Deaton, Daniel Kahneman, Harry Markowitz & Vernon Smith. Also: James Altucher, Dan Ariely, Jean-Philippe Bouchaud, Kathleen Eisenhardt, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Tucker Max, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams. All 600+ eps at trendfollowingradio.com/rss.

Oct 25, 2012

Michael Covel talks with Peter Brandt, author of "Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading", and a trader who has been in the commodity trading space since 1976. He's traded his own proprietary account from the late 1970's until today, and is currently entering the hedge fund world by running a multi-CTA fund-of-funds. Brandt got his start in Chicago trading commodities and working at the Chicago Board of Trade for Continental Grain Company. Along the way he jumped from approach to approach until he found the book "Technical Analysis of Stock Trends" by Edwards and MaGee, and became a classical chartist. However, after leaving Continental Grain in the early 1980's he suffered a traumatic accident falling from seventeen feet onto a concrete slab while sleepwalking. Brandt suffered neurological and physical damage which affects him today, but he calls this tragedy a blessing. Covel and Brandt talk about how the accident influenced his trading and how great lessons can be learned through adversity. Covel and Brandt also discuss the idea of trading a five minute chart pattern vs. a weekly chart pattern; the biggest mistakes you can make as a novice trader; averaging a loser; risk management and the right amount to risk on any trade; upside volatility and the fantasy of a straight line up of profit gwoth; and the importance of reducing the incessant head chatter and living in the moment of now. There are some real commonalities between Brandt's approach and trend following, including the basic foundations of risk management and the importance of price. Brandt and Covel get to the bottom of their respective approaches, and explore how to find the best system for yourself. Special offers including a free DVD go to: www.trendfollowing.com/win.

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