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The Little Book of Trading: Trend Following Strategy for Big Winnings Hardcover

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The Little Book of Trading: Trend Following Strategy for Big Winnings + Trend Commandments: Trading for Exceptional Returns + Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets
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Product Details

  • Hardcover: 240 pages
  • Publisher: Wiley; 1 edition (August 9, 2011)
  • Language: English
  • ISBN-10: 1118063503
  • ISBN-13: 978-1118063507
  • Product Dimensions: 7.3 x 5.3 x 0.9 inches
  • Shipping Weight: 8.8 ounces (View shipping rates and policies)
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (100 customer reviews)
  • Amazon Best Sellers Rank: #81,229 in Books (See Top 100 in Books)

Editorial Reviews


The Little Book of Trading reveals the secrets from trend-following insiders giving you the freedom to trade all markets: interest rates, copper, currencies, stocks -- you name it! Covel encourages you to take that TV blaring CNBC and throw it right out the window. Charts cut the noise.”
—Addison Wiggin, Best-selling author ofDemise of the Dollar; Executive Publisher, Agora Financial, LLC

“In The Little Book of Trading, Michael Covel has collected many gems of wisdom from some of the great traders of our time. After reading this book and piecing together all of the commonalities therein, you’ll begin to understand what it takes to be successful in the markets. Ignore these key truths and one day you’ll watch your account disappear.”
—Van K. Tharp, Ph.D., President, The Van Tharp Institute.

“Michael Covel’s unique insight into trading is invaluable. Both novice and experienced traders can benefit from Michael’s thorough knowledge of markets around the globe. The Little Book of Trading is a must read for serious investors.”
—Louis G. Navellier, Chairman and Founder, Navellier & Associates, Inc.

“Imagine being in the circle of trust of some of the greatest traders of all time, knowing what made them successful and having them share heartfelt advice. Though the eyes of Michael Covel in The Little Book of Trading, you will truly feel this experience.”
—Murray A. Ruggiero Jr., Contributing Editor, Futures Magazine; VP Research and Development, TradersStudio Inc.

“Michael Covel’s Little Book of Trading is a must-read guide to help you succeed in the shark-infested waters of the investment world.”
—From the Forward, Cullen O. Roche, Founder and CEO, Orsus Investments, LLC; Proprietor of Pragmatic Capitalism

“The latest addition to the ‘little book big profits’ series, Michael W. Covel’s The Little Book of Trading: Trend Following Strategy for Big Winnings looks at the financial world through the eyes of successful trend traders … What Covel stresses throughout the book are the accompanying principles that make trend following viable: stick to your plan and manage your risk through diversification, stop placement, and position sizing. These are important principles for any kind of trading, but for trend following they are critical … Successful trend following traders try to capture the outliers, the really big moves that more than compensate for the many small losses they take. This goal requires traders to have confidence in their systems and confidence in themselves. By introducing the reader to successful trend traders, Covel believes that some of their ‘magic’ just might rub off.”
—Seeking Alpha

From the Inside Flap

Revealing the tricks which lead to success that today's market wizards keep up their sleeves, The Little Book of Trading is the resource you need to get all markets working for you again.

Recent events have left the average individual investor extremely dubious about playing the markets. But just because some unprepared individuals have paid for their mistakes is no reason to stay away from taking advantage of trending opportunities that, with a little careful planning, can yield exceptional results. Market fluctuation is nothing new, but there is a set of rules and philosophies that you can rely on to get the market back on your side, regardless of whether times are good or bad.

Drawing on author Michael Covel's own extensive experience in the trading world, as well as tips and insights gathered from some of the world's most successful traders, the book identifies the tools, concepts, psychologies, and philosophies that will keep your money growing—and safe—even when the next bubble bursts or the next crisis hits. With each chapter featuring easy-to-understand advice from a top trader or trading firm that has won by beating mutual fund performance, this Little Book prepares the cautious, would-be investor to make money like an old hand and presents a revolutionary new argument—that mutual funds, long the investment vehicle of choice for people looking for security in retirement, are no longer to be relied on.

With everything you need to grab all markets by the horns, this book provides an a comprehensive overview of active investing strategies and risk-management techniques that you can easily use to your best advantage.

More About the Author

Michael Covel passionately teaches the lessons of the great traders who have made their fortunes over the last four decades. Forget Buy and Hold and CNBC; those are not Michael's game. His subject of choice is an obscure trading style called 'trend following trading' that has produced untold millionaires and a few billionaires. It is a style of trading ignored by the mainstream press, all universities and much of Wall Street. Michael is now considered the point person on trend following trading.

In 1996 Michael co-launched a website titled®. It has attracted millions of visitors and thousands of clients all looking for insights into trend following trading. The journey to uncover the secretive world of the most successful money makers around, cracking their 'code' so to speak, honed Michael's investigative skills and built®.

Following on the success of TurtleTrader®, Michael's first book Trend Following: How Great Traders Make Millions in Up or Down Markets (FT Press, Apr. 04, Nov. 05, Feb. 07 and Feb. 09) hit the streets. It profiled great trend following traders and explained trend following in print for the first time. It quickly became a bestseller and has sold over 100,000 copies. It is available in German, Japanese, Chinese (Complex and Simplified), Korean, French, Arabic, Turkish and Russian. The book struck a chord with individual and professional investors alike.

Michael's second book The Complete TurtleTrader: The Legend, the Lessons, the Results (Collins, Oct. 07 and Feb. 09) is different. It is the definitive behind the scenes look at a real life trading legend. It is a narrative account of super-trader Richard Dennis and his student traders nicknamed the 'Turtles'. You think trading success only happens for people born with a silver spoon? This book will prove you wrong! It is the true story of nurture trumping nature and has become an inspirational lynch-pin for tens of thousands.

Following his two books Michael directed his debut documentary film Broke. It premiered on 'The Documentary Channel' in October 2009. It explores human behavior (read: behavioral finance) during the 2007-2009 market crash. It is Michael's 75,000 mile odyssey through a Tokyo fish market, a Virginia sheep farm, a lottery store and Las Vegas and Macau poker tables all to learn how and why we make so many wrong financial decisions.

Michael and his team shot the film in 13 major cities and packed it with big time names in the trading world (Larry Hite, Jim Rogers, David Harding, Mark Mobius, and Bill Miller to name a few). Michael also conducted face-to-face interviews with legendary Nobel Prize winners Dr. Harry Markowitz and Dr. Vernon Smith. Michael's film is a non-partisan, timeless and common sense message that everyone can embrace.

Customer Reviews

I read the book a little jaded.
C Vetter
I own other books written by Mike Covel including "The Complete Turtle Trader" and "Trend Following".
Robert Weinstein
If you want to join these great traders, read this book and follow the principles.
Steve Burns

Most Helpful Customer Reviews

47 of 52 people found the following review helpful By Trader Jim on August 30, 2011
Format: Hardcover
As I read through some of the negative reviews of this book I'm enjoying a good chuckle. To those of you who think that "The Little Book of Trading" is somehow remiss because it doesn't give you exact information regarding entering and exiting trades or a step by step plan on how to size your positions and manage your risk, you are missing the point. Any type of trading system is extremely personal, and you need to put in the time discovering the detailed trading rules that work best for you. The reason for this is simple; you have to believe in your method so deeply that you are willing to stick with it when times are bad (you're temporarily losing money). This can only be accomplished by developing a trading plan on your own, not by using something that someone else gives to you. No one is going to give you the "Holy Grail"; developing your own trading system using the concept of trend following is as close as you're ever going to get.

Becoming a trading success is like getting an education to practice any other profession. Would you let someone perform brain surgery on you after they read a book about it, or would you expect them to have completed years upon years of college and medical school, followed by interning with some of the leaders in their field? Trading isn't any different. You're not going to buy this book and get "the step by step secret" to becoming a successful trader; however you will get the information necessary to give you an excellent foundation to begin your journey of self-discovery as a trend follower, and as a bonus all of Michael Covel's books include wisdom from experienced trend followers that will help you to have those "a-ha" moments as you learn.
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38 of 44 people found the following review helpful By D. Buxman TOP 1000 REVIEWERVINE VOICE on August 9, 2011
Format: Kindle Edition Verified Purchase
I think the dichotomy of opinion in these reviews pertains more to expectations than anything else. If you are looking for specific trend following systems that are turnkey in nature, this book won't help. The fact is, however, that there are literally thousands of ways that a person could design a trend following system and all of them would work if you follow the advice of the traders discussed in this book. It is not for lack of a system that investors fail, it is generally the result of letting emotions get the best of you. One of the main premises of Michael Covel's books is that we can all be victimized by our evolutionary psychology to make stupid trades that will eventually bankrupt us. This book is a roadmap out of the never-ending Buy and Hold, Average Down Investment Loop that makes stooges of us all. You don't have to be a math professor to be successful at Trend Following. You just have to focus on what markets are communicating in the here and now by virtue of prices and their general trajectory... Simple to understand, but hard to implement without a steely resolve to follow the trend. Let your losers go early and let your winners run.
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15 of 16 people found the following review helpful By Michael DiMascio on December 25, 2011
Format: Hardcover Verified Purchase
Having been trading the forex market for 15 months, with varying degrees of success, one of the most frequent phrases you hear is "the trend is your friend". This book made me realize how true that statement is. I am committed to following the trend in all my trading from now on.
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35 of 45 people found the following review helpful By Nathan on November 19, 2011
Format: Kindle Edition Verified Purchase
This book was a total waste. I was even more disappointed that THE LITTLE BOOK brand would publish this. It told me nothing about trading that little common sense would take care of if one were to begin trading. It does not give any technical or certain setups or specifics of successful systems. All it does is give names of successful trend traders who made millions and billions but nothing specific about their systems they used. What stupid advice Covel gives by saying develop your own system and then stick with it and that's it ~ I mean no guidance, no point of departure to setup your system for trend trading. The book just rambles on and on to fill up pages. I am not usually this harsh but this was a waste of money.
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49 of 65 people found the following review helpful By Sound Opinion on August 29, 2011
Format: Hardcover Verified Purchase
I am really disappointed that I read "The Little Book of Trading" by Michael Covel. I should have known better. A friend of mine read Covel's very recent book, 'Trend Commandments' and told me it was a complete waste of time, so I didn't buy that one. However, when "The Little Book of Trading" was released, I read that it was going to be INTERVIEWS of successful trend followers. So, I bought it.

It isn't a book of interviews at all. I feel ripped off. Chapters are arranged with a couple of lines about a trend follower followed up by paragraph after repetitive paragraph of Covel pontificating on the virtues of trend following. As a long term trend follower, myself, it is still obvious Michael Covel knows very little about trend following and how to trade. He merely skims the surface.

Covel does a disservice to the "The Little Book" collection. The content could be written on an index card rather than a 'little book'. I read the entire book hoping to learn one tiny morsel. I was left empty.

Mr Covel has this psychotic fixation with CNBC. Why? Who cares? He literally beats the topic to death. He has a fascination with Jim Cramer too. Again, why? Who cares?

Michael Covel acts like anyone that isn't a trend follower is the enemy and a fool. As a successful long term trend follower, I know very well there are a lot of ways to make money. This is very clear in the market wizards books of REAL interviews which were fantastic. I am a living example of someone who knows firsthand. I made a lot of money with distressed debt (50-95% CAGR on every deal), which had zero to do with trend following and everything to do with deep value, buy and hold.
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