4.6 • 730 Ratings
🗓️ 31 March 2025
⏱️ 24 minutes
🧾️ Download transcript
Please enjoy my monologue The Basics Make You Rich with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
You can watch a free video here: https://www.trendfollowing.com/video/
Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast
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Twitter: @covel
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LinkedIn: @covel
Instagram: @mikecovel
Hope you enjoy my never-ending podcast conversation!
Click on a timestamp to play from that location
0:00.0 | Today I want to go back to the basics. |
0:02.0 | In the current climate, the 2025, early 2025 climate, |
0:09.0 | there are all kinds of discussions that really ultimately have nothing to do with your profit. |
0:18.0 | Let me give a few examples. Tariffs. Trump policy? Tariffs. Now, of course, |
0:27.4 | many other countries around the world have tariffs on America already. From direct tariffs to VAT, |
0:36.8 | etc. |
0:39.3 | Tariffs are not new. |
0:42.3 | They're not Trump-specific. |
0:44.8 | Maybe they work, maybe they don't work, but tariffs are not new. |
0:51.5 | The kicker for you, as you take in the daily information. |
0:57.0 | How do you buy and sell based off tariff news of that day? |
1:05.0 | Explain to me how that works. |
1:09.0 | You buy because of XYZ news on tariffs today. |
1:14.2 | You sell because of XYZ tariff news tomorrow. |
1:18.9 | How much do you bet? |
1:21.3 | Which markets do you select to trade? |
1:25.0 | Now, of course, tariffs in my example is just a synonym for fundamentals. Whatever |
1:33.4 | fundamentals you want to debate. What is the U.S. Fed going to do this week? What will they do next week? |
1:50.2 | What will the Central Bank of Japan do or China? This is a guessing game. Now you can go through life, guessing. You can pick that as a direction. But why would you want |
1:59.0 | to do that if the great traders of the last 100 years don't do that? |
2:07.3 | The great traders use price because they know they will never have enough fundamentals. |
2:17.3 | There will always be another factor, another |
... |
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