La, La, La, La…

On Facebook today a random instant message chat started by a friend:

“Michael what do you think about the futures markets?”

What do you mean?

“Gold, steel, wheat, gas.”

What does that mean?

“Are you in the financial markets?”

Are you familiar with what i do?

“I am going to be a forex trader. I believe its the best market to trade for full time income.

I don’t.

“But I do.”

Well, both of my books lay the case out for why you are wrong. Everyone believes what they want to believe…even if not true.

“That’s true. All traders have their own opinions.”

Yes, but traders who invent their own facts go broke. Don’t just be a passenger. As Iggy once sang ‘La, La, La, La…’:

  • Jarod

    “both of my books lay the case out for why you are wrong.”
    Can you remind us the short version ? Thanks :)

  • http://michaelcovel.com Michael Covel

    I don’t have short versions. Do the actual versions not work for some reason? :-)

  • Jarod

    Lol, I was bluffing, I don’t have them, I understand better and prefer short articles over full books, books are way too diluted for my taste.

  • Michael Covel

    Well, with that view you can go a lifetime not reading anything waiting for the short version!

  • Jarod

    I think that would be underestimating the number of people who can express their thoughts efficiently (not saying that you can’t).

  • Michael Covel

    Some short books suck, some long books are too short and great. I have never met anyone truly successful who does not read books. We will have to agree to disagree when it comes to your logic.

  • YBKennedy

    Just out of curiosity, why isn’t FX the best market for income? and what market is?

  • Michael Covel

    For ‘income’? Are you guys all asking for fixed income like returns? Bonds/utility companies?! How does trend following in practice get isolated to some one market to the exclusion of others??

  • Chris Maye

Trend Following

Learn trend following now with our firm.

 

Free Brand new to trend following trading?
Free resources are an immediate starting point for your trading education.

Explore

Premium Need to take your trading to the next level?
15+ years of access & research brings you the chance for outsized absolute returns.

Get Started

Switch to our mobile site