Michael Covel

Michael Covel

Michael Covel is a highly respected author, film director, and entrepreneur. He extends his trading expertise to readers and clients through the use of film, the worldwide web and the written word.

In 1996, he founded the well-renowned TurtleTrader® website, which has attracted millions of visitors. This internationally acclaimed website offers innovative and comprehensive trading techniques, making a striking impact on the investing world. In 2004, Covel published his first book, Trend Following: How Great Traders Make Millions in Up or Down Markets (FT Press, Apr. 04, Nov. 05, Feb. 07 & Feb. 09). Profiling great trend following traders, along with defining and teaching the underground trading strategy of trend following, it quickly became a bestseller. Trend Following has sold 100,000+ copies and is also available in German, Japanese, Chinese (Complex and Simplified), Korean, French, Arabic, Turkish and Russian. Between film projects, books and social media management, Michael Covel is an in-demand global speaker. He has presented at conferences in cities around the world, including Tokyo, Vienna, Paris, Macau, Hong Kong, Miami and São Paulo.

Additionally, The Wall Street Journal, Barrons, Globe and Mail, Bloomberg and The New York Post have quoted and interviewed Covel. Reviews of his work have appeared in The Huffington Post and Big Hollywood. His written work has also appeared in Technical Analysis Magazine, Trader Monthly, Stocks, Futures and Options Magazine, Futures Magazine,, Yahoo Finance, Market Technicians Association Newsletter, and Futures Japan Magazine. Michael earned a Bachelor’s of Arts from George Mason University and a Master’s of Business Administration from Florida State University. 

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In this month’s issue, we provide summaries of several additional presentations that were made at the Market Technicians Association Annual Symposium in April. We included several summaries in last month’s issue. Speakers included some of the best minds in the technical analysis community and the presentations are filled with actionable ideas. The presentations we’ve summarized over the past two months along with several additional presentations can be viewed online at We are always appreciative of your feedback and look forward to hearing your thoughts on Technically Speaking. You can email us at Michael Carr [post_title] => Technically Speaking, July 2012 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-july-2012 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:35:00 [post_modified_gmt] => 2020-08-03 15:35:00 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 398193 [post_id] => 46506 [meta_key] => newsletter_content_0_contributor [meta_value] => a:2:{i:0;s:4:"7251";i:1;s:4:"3059";} ) [1] => stdClass Object ( [ID] => 46670 [post_author] => 2 [post_date] => 2012-03-15 12:00:23 [post_date_gmt] => 2012-03-15 16:00:23 [post_content] =>


This issue starts with a small preview of the upcoming Annual Symposium.  Michael Covel will be the keynote speaker and we are presenting a small sampling of his philosophy. Covel is an expert on trend following and is able to explain the strategy along with its rich history. His writings are a valuable source of information for traders and his talk will certainly be valuable for traders and those interested in market psychology and history. Also in this issue, Scott Hathaway offers another insightful article with another technique that he has developed. Last month he presented pentagonal analysis with detailed examples and a complete explanation of how you could apply the ideas to any chart. Scott recently explained his investing philosophy to me. He believes that “the mechanism behind the market is the collective unconscious of the trading community is a whole entity existing in our universe conforming to mathematical properties like everything else. Geometry of price and time helps to reveal these underlying fundamentals of this collective energy.” We are just beginning to see what is in Scott’s fertile mind, but his work seems to be in the tradition of Gann and Elliott. Market historians will also enjoy the article by George Schade who details the origin of the Schultz AT indicator. As always, we hope you’ll tell us what you think about Technically Speaking by sending an email to Sincerely, Michael Carr [post_title] => Technically Speaking, March 2012 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2012 [to_ping] => [pinged] => [post_modified] => 2020-03-25 13:21:14 [post_modified_gmt] => 2020-03-25 17:21:14 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 400890 [post_id] => 46670 [meta_key] => newsletter_content_0_contributor [meta_value] => a:1:{i:0;s:4:"3059";} ) [2] => stdClass Object ( [ID] => 46705 [post_author] => 2 [post_date] => 2012-02-15 12:00:26 [post_date_gmt] => 2012-02-15 17:00:26 [post_content] =>


This month we are providing a detailed overview of several interesting techniques. Scott Hathaway introduces pentagonal analysis with detailed examples and a complete explanation of how you could apply the ideas to any chart. Manuel Amunategui, CMT, offers very specific trading strategies that can be applied to help manage risk. James Brodie, CMT, describes the techniques he applies to trade a hedge fund. We also feature an interview with Esther de S.G. Elkaïm, CMT. These interviews are highlighting the diversity of technical analysis opportunities and hopefully showing the possibilities for those considering a career in technical analysis. Over the past months, the MTA has been searching for the right person to help bring the CMT program to the next level. After a thorough process, Robert Johnson, Ph.D., CFA, CAIA, was selected as Director, CMT Studies. Dr. Johnson will focus on enhancing the professionalism of the CMT Program and will eventually develop a customized curriculum for our candidates. In next month’s newsletter, we’ll have an interview with Dr. Johnson and get his first thoughts on the program. As always, we hope you’ll tell us what you think about Technically Speaking by sending an email to Sincerely, Michael Carr [post_title] => Technically Speaking, February 2012 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-february-2012 [to_ping] => [pinged] => [post_modified] => 2020-03-25 13:21:25 [post_modified_gmt] => 2020-03-25 17:21:25 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 401817 [post_id] => 46705 [meta_key] => newsletter_content_5_contributor [meta_value] => a:1:{i:0;s:4:"3059";} ) [3] => stdClass Object ( [ID] => 47971 [post_author] => 2 [post_date] => 2009-09-15 12:00:11 [post_date_gmt] => 2009-09-15 16:00:11 [post_content] =>

Letter from the Editor

While September is traditionally a time to think about going back to school, on Wall Street it seems more like the time of year to head back to work. Volume is usually lower than average in the summer months as traders focus on vacations more than they do on getting the best bid. As our members gear up to face the challenges of returning to work, we offer up some opinions on recent books that can help them refocus and sharpen their skills. One trend I noticed in my summer’s reading list was the emphasis on volatility. The markets have certainly been volatile recently and several insightful authors have offered tips on how to profit from that volatility. We also have a research piece by Ed Easterling of Crestmont Research which shows how prices respond after experiencing volatility. As always, we hope you find this issue of Technically Speaking to be useful as well as interesting. Please let us know what you like, and what you’d like to see. Send me an email at Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, September 2009 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-september-2009 [to_ping] => [pinged] => [post_modified] => 2020-03-20 18:49:58 [post_modified_gmt] => 2020-03-20 22:49:58 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 424027 [post_id] => 47971 [meta_key] => newsletter_content_3_contributor [meta_value] => a:2:{i:0;s:4:"3059";i:1;s:4:"2257";} ) [4] => stdClass Object ( [ID] => 48598 [post_author] => 2 [post_date] => 2007-10-15 12:00:38 [post_date_gmt] => 2007-10-15 16:00:38 [post_content] =>

A Letter from the MTA Seminar Chair

This month, instead of A Letter from the Editor’s Desk, we have decided to provide you with an update on the MTA’s upcoming Mid-Winter Retreat by Seminar Chair Tim Snavely, CFA, CMT. MTA Membership: I am pleased to invite you to join us this year for our 2008 MTA Mid-Winter Retreat - a high quality, advanced topics, learning and networking event set on the gorgeous Florida Gulf Coast. This year’s Retreat will be held January 25th and 26th at the fabulous Don CeSar, a Loew’s Hotel, and it will feature: Please stay tuned for more information, and be sure to review the itinerary. There is no better place to be this January 25th and 26th than St. Pete Beach, Florida - so plan ahead and act now to take advantage of this opportunity, and the low pre-registration rate available for only a short time. For more information or to register, go to, or contact Tim Licitra, MTA Marketing Services Coordinator, at (646) 652-3300. Sincerely, Tim Snavely, CFA, CMT MTA Board Member & Seminar Chair [post_title] => Technically Speaking, October 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-october-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-25 18:37:36 [post_modified_gmt] => 2020-03-25 22:37:36 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 441663 [post_id] => 48598 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:4:"2257";i:1;s:4:"3059";} ) [5] => stdClass Object ( [ID] => 52144 [post_author] => 2 [post_date] => 2005-12-15 12:00:02 [post_date_gmt] => 2005-12-15 17:00:02 [post_content] =>

From the Editor’s Desk

Happy Holidays to all our Technically Speaking readers. Since this is the season for giving and also for giving thanks, I’m going to use a little of this space to request the former and do the latter. First of all, many thanks to people like Ashton Dorkins, Garry Rissman and Matt Blackman, who have been a huge asset for the Newsletter since I have been Editor. They have been providing content almost every month. Also, thanks to people like Jeannette Young in New York City and Ross Leinweber in Chicago, we are now starting to get some newsletter participation from the MTA’s regional chapters. That’s the good news. However, there are 16 more Chapters out there that we have not heard from yet, so we clearly can do much better. So, to those involved with a regional group, please drop me a line at and let me know that you are willing to give a gift to your fellow MTA colleagues by covering your Chapter’s next meeting. For those of you that are relatively new to the business and/or the Association, Technically Speaking is a great way to get your name and face in front of the rest of the membership as we will include your picture and bio in every submission to TS that gets published. I also encourage anyone who has an interesting analytical technique they would like to share, or who has read a great book on technical analysis and would like to share their views on it with the rest of us, please consider writing an article for TS. This is your Newsletter – we would like to fill it with content from as many of you as possible. Now, on to this month’s issue. On the cover, Michael Covel discusses some simple but important techniques for equalizing risk between investments to adjust for differences in volatility and leverage. Inside, MTA affiliate and CMT candidate Matt Blackman reviews a new investment software product that integrates several different approaches into one package. In addition, money manager Rob Hanna uses back-testing to come to some interesting conclusions regarding the effectiveness of the 200-day moving average as a investment tool. Finally, Executive Director John Kirby reports on the MTA’s two most recent accomplishments, the launching of our new technology platform and the debut of the new and improved MTA website. Hope you enjoy the issue. I also hope you will consider contributing to future issues of TS. John Kosar, CMT Editor [post_title] => Technically Speaking, December, 2005 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-2005 [to_ping] => [pinged] => [post_modified] => 2020-08-06 10:58:10 [post_modified_gmt] => 2020-08-06 14:58:10 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 537293 [post_id] => 52144 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:4:"3059";} ) )