{"id":2678,"date":"2020-03-03T11:14:55","date_gmt":"2020-03-03T19:14:55","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=2678"},"modified":"2020-03-03T12:19:49","modified_gmt":"2020-03-03T20:19:49","slug":"michael-covel","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/michael-covel\/","title":{"rendered":"How Anyone Can Be a Trader \u2014 Trend-Following With Michael Covel"},"content":{"rendered":"<div id=\"backtracks-player\" style=\"max-width: 100%;\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-137-trend-following-with-michael-covel\" data-bt-theme=\"dark\" data-bt-show-description=\"false\" data-bt-show-comments=\"false\" data-bt-show-art-cover=\"true\"><\/div>\n<p><script>(function(p,l,a,y,e,r,s){if(p[y]) return;if(p[e]) return p[e]();s=l.createElement(a);l.head.appendChild((s.async=p[y]=true,s.src=r,s))}(window,document,\"script\",\"__btL\",\"__btR\",\"https:\/\/player.backtracks.fm\/embedder.js\"))<\/script><\/p>\n<p><span style=\"font-weight: 400;\">As frequent listeners know, SteadyTrade co-host Tim Bohen is quite the bookworm. He\u2019s explored just about all of the trading books out there, and he knows the good stuff.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today\u2019s guest Michael Covel writes some of the best books about trading out there.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most notably, he\u2019s the author of \u201c<\/span><a href=\"https:\/\/amzn.to\/2wRSJMM\"><span style=\"font-weight: 400;\">The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires<\/span><\/a><span style=\"font-weight: 400;\">\u201d and \u201c<\/span><a href=\"https:\/\/amzn.to\/2PATJLP\"><span style=\"font-weight: 400;\">Trend Following, 5th Edition: How to Make a Fortune in Bull, Bear, and Black Swan Markets<\/span><\/a><span style=\"font-weight: 400;\">.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sound familiar? His work has popped up on the show before. Check out <\/span><a href=\"https:\/\/www.steadytrade.com\/turtle-traders\/\"><span style=\"font-weight: 400;\">Episode 39<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-40-turtle-traders-p2\/\"><span style=\"font-weight: 400;\">Episode 40<\/span><\/a><span style=\"font-weight: 400;\"> to hear Tim and Stephen\u2019s commentary on the TurtleTrader book and story.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In today\u2019s episode, Tim and Michael discuss the books, trading tips, and how to work on improving all the time. You\u2019re bound to be inspired by this discussion \u2014 don\u2019t miss it!\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">[As an Amazon Associate, we earn from qualifying purchases.]<\/span><\/i><\/p>\n<h2><span style=\"font-weight: 400;\">Michael\u2019s Origin Story\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the mid-90s, Michael had just gotten his MBA from Florida State University. He wanted to go to Wall Street, but where to start?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He checked his personal connections and landed a meeting with a former CEO of Solomon Brothers. It was one of the biggest firms at the time. Nope, he didn\u2019t get a job \u2026 but the connection made him more certain that finance was his future.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He got obsessed and started reading everything he could about the financial world. That\u2019s when he came across an article about 100 influential finance figures.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He read about a trader who made millions doing something called \u201ctrend trading.\u201d This trading style didn\u2019t rely so heavily on fundamentals \u2026 that pulled him in.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Michael hated fundamentals. He figured, \u201cIf this is a thing, it\u2019s possible for others to do it, too.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Learn how this chance finding led to Michael connecting to Richard Dennis and the premise for his unique TurtleTraders book.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The TurtleTraders Premise\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here\u2019s a quick recap on the TurtleTraders story &#8230; It\u2019s about how trader Richard Dennis, a Wall Street millionaire, made a bet that he could turn novice traders into success stories by teaching them his methods.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the episode, you\u2019ll learn the entire backstory behind the popular book. Fact: It actually had something to do with the movie \u201cTrading Places\u201d \u2026 Don\u2019t miss this fascinating story.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Is It Possible to Find Success With the TurtleTraders Model?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If novice traders got rich using the TurtleTraders model of trend-following &#8230; can anyone do it?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tim and Michael discuss some of the best ways to take advantage of the advice in this book in your own trading career.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They talk about sharp ways to approach trading if you want to avoid the scary 90% failure stats \u2026 And no SteadyTrade podcast would be complete without talking a least a little bit about your mindset. Learn why your attitude can be a huge contributor to success or lack thereof.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Could it really be as simple as learning the rules and following them? Tune in now!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Advice for New Traders<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This episode is full of sage advice for new traders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">No, this isn\u2019t for newbies who want to buy a Lambo next week. It\u2019s for traders in it for the long haul. It\u2019s for those who want to improve over time. Sound like you? If so, this episode has a ton of great info.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You\u2019ll learn why Michael says, \u201cbuy and hold isn\u2019t a strategy for trading.\u201d And you\u2019ll hear a sound argument for why you must know your exit before you get into a trade.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Michael and Tim also talk about stock research. Want pro tips on how you can make it more efficient and effective? Check out the full episode now.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They also dig into how your trades should be within what Michael calls a \u201cnarrow universe.\u201d It\u2019s a way to help you maintain as much control as you can.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And definitely don\u2019t miss Michael\u2019s favorite resources for new traders \u2014 including his own podcast, <\/span><a href=\"https:\/\/www.trendfollowing.com\/podcast\/\"><span style=\"font-weight: 400;\">Michael Covel\u2019s Trend Following Radio<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Got a Question?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Did you love hearing what Michael Covel had to say? What are your thoughts?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you have questions or comments, please send a line. Remember: if your question is chosen as an on-air topic, you could win a SteadyTrade mystery gift box. Drop a comment below or hit us up on <\/span><a href=\"https:\/\/www.youtube.com\/channel\/UC5pPaJfbfRHQ1msJ4bSj_dQ\"><span style=\"font-weight: 400;\">YouTube<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Love this episode? Please review us on <\/span><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/steady-trade-the-profitable-side-of-trading\/id1275946076?mt=2\"><span style=\"font-weight: 400;\">iTunes<\/span><\/a><span style=\"font-weight: 400;\">!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As frequent listeners know, SteadyTrade co-host Tim Bohen is quite the bookworm. He\u2019s explored just about all of the trading books out there, and he knows the good stuff. Today\u2019s guest Michael Covel writes some of the best books about trading out there.\u00a0 Most notably, he\u2019s the author of \u201cThe Complete TurtleTrader: How 23 Novice [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":2680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Anyone Can Be a Trader \u2014 Trend-Following With Michael Covel - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Today\u2019s guest Michael Covel writes some of the best books about trading out there.\u00a0In today\u2019s episode, Tim and Michael discuss the books and trading tips.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.steadytrade.com\/michael-covel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Anyone Can Be a Trader \u2014 Trend-Following With Michael Covel - 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