Futures Radio Show with Anthony Crudele

EP: 128 Long Term vs Short Term Trend Following

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EP: 128 Long Term vs Short Term Trend Following
#FuturesRadio

 
 
00:00 / 32:58
 
1X
 

Guest: 

Michael Melissinos

CEO of Melissinos Trading

Record Date: 5/17/17

Traders,

Today I spoke to a man that began his career at Bear Stearns right before the Global Financial Crisis.  Talk about a time to start in the industry!  Fortunately he continued to work in the financial industry for JP Morgan and along the way he was studying trend following.  After his learning experiences from working for Bears Stearns and JP Morgan he then moved on to start his own company managing futures as Commodity Trading Advisor and Commodity Pool Operator.  His name is Michael Melissinos and he is the CEO of Melissinos Trading.

[bctt tweet=”#FuturesRadio ‘I believe the strategy you execute in the markets is how you’re going to live your life as well” username=”mmelissinos”]

Today Michael and I talked about long term trend following and why he chooses trade that way.  We discussed some of Michaels positions and process for getting in and out of his trades.  We talked about the turtle traders and why Michael thinks that they got lucky.  We chatted about the importance of finding a strategy that fits your personality and he gives a great comparison on baseball pitchers pitching on a high mound to low interest rates and how they affect markets similar to batting averages.

Michael is a really bright guy who I really enjoyed speaking with.  I know you will enjoy hearing his insight on trading the futures markets.  As always thank you for listening, and please enjoy this episode.

Take-a-Ways:

  1. Michael’s methodology for long-term trend following. He explains a recent trade and his process from entry to exit.
  2. He claims that the Turtle Traders got lucky, and tells us why he believes this.
  3. Why he feels that longer-term trading is better for his personality, why this concept is important when beginning your career as a trader.
  4. He walks us through his dollar trade that he’s been in for more than 2 years.
  5. A historic baseball policy change and how it relates to interest rates in today’s markets.

Rapid Fire:

  1. How has your trading evolved over the years?
    • Went from trading 11 markets to over 50. Used to hold trade 3-4 months now it’s 10-11 months, and uses 3 different systems.
  2. The moment trading clicked?
    • Things start to click as you make and lose money. It wasn’t really one moment.
  3. #1 source you spend your time on?
    • Charts and researching ideas. Observing myself and feelings.
  4. Favorite Book About Trading:
    • Michael Covel Trend Following
  5. Favorite Movie About Trading:
    • The Profit
  6. Best Advice Ever Received About Trading:
    • Find a system that works and works for you.
  7. Advice to Give to Others About Trading:
    •  Study yourself first and what you want to get out of it. Figure out what you want.   
  8. If you weren’t a trader you’d be what?
    • Baseball coach, or physical therapist or psychologist.

Take-a-Look:

Quotes:

  • “A decent system followed to the tee is better than a perfect system followed intermittently…” 25:50
  • “I believe the strategy you execute in the markets is how you’re going to live your life as well…” 4:00

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