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The Little Book of Trading: Trend Following Strategy for Big Winnings Hardcover – August 9, 2011

113 customer reviews

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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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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.

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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: 5.4 x 0.9 x 7.4 inches
  • Shipping Weight: 8.8 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (113 customer reviews)
  • Amazon Best Sellers Rank: #144,425 in Books (See Top 100 in Books)

More About the Author

Michael Covel is President and founder of Trend Following™, a research-consulting firm focused on trend following trading strategies. The firm's client base consists of individual traders, students, hedge funds, pensions and family offices. Michael's unique edge is an extensive personal network within the world of quantitative trend following investments. His unparalleled global teaching track record is over 7000+ clients in 70+ countries.

The bestselling author of The Little Book of Trading, Trend Commandments, The Complete TurtleTrader and the classic Trend Following, Michael's books have sold 150,000+ copies. His books have been translated into 10+ languages with Trend Following named best trading book of the last 15 years. His first documentary film is Broke: The New American Dream.

Michael is also the voice behind Trend Following Radio, the underground alternative hit that has been as high as #2 on iTunes investing channel reaching 182 countries & territories with 1.9 million listens. Guests have included: Daniel Kahneman (Nobel Prize), Vernon Smith (Nobel Prize), Harry Markowitz (Nobel Prize), Ed Seykota, Gerd Gigerenzer, Dan Ariely, Jack Schwager, Michael Mauboussin, Larry Williams, Tom DeMark, Tom Basso, Jerry Parker, Barry Ritholtz and Larry Hite. More:

Customer Reviews

Most Helpful Customer Reviews

55 of 62 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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49 of 56 people found the following review helpful By D. Buxman TOP 500 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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24 of 27 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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15 of 16 people found the following review helpful By DrGreenTech on September 4, 2011
Format: Hardcover Verified Purchase
OK - let's cut to the chase here. "Trend Commandments" may have been more holistic and a great read also, but this is where you separate the men from the boys. On my LinkedIn profile I already wrote the following : "Most definitely one of the most inspiring books I've read so far this year. Not only is it important if you're in the business I'm in ... and the conclusions that come with it. No - much more are the simple life lessons that ring true and tested - and make you REALLY wonder what on earth we're doing here ... Class Act - way to go Michael, and by the way, much better than Trend Commandments ! " I have little more to add, if only that after reading, you really appreciate fully the concept of "all is in the price". Focus on price action, and ride the wave. Coupled with serious and critical money management techniques, and you should be golden. Much better I would think than continue to let your head spin by all this talking heads that are there to suck you out of your money. I'm sold, and cancelled pretty much most of my newsletter subscriptions - I am ready to ride whatever wave (current of future) that comes along. Gold ? SDS ? TLT ? OJ ? It does not matter - just give me the dough.
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18 of 20 people found the following review helpful By Jeffrey J. Diercks on October 24, 2011
Format: Hardcover
I just finished reading The Little Book of Trading (2011) by Michael W. Covel. Mr. Covel is well known in trend following circles for his previous titles including The Complete Turtle Trader and Trend Following.

To be honest, I didn't expect much out of such a little book. I was, however, pleasantly surprised by how helpful this book was to both the novice and experienced trend trader, alike.

As with Mr. Covel's other works, this book is a bit of enigma in that it fails to actually explain how to implement trend following in your portfolio. However, I did find it to be well written and insightful.

I have read a lot of books on trend following and I think the author does as good a job as I have seen explaining concisely why trend following works, while other investment strategies tend to fail over time.

I love his rebuttal of comedian and investment guru Ben Stein's comment that "if you didn't lose money during the panic of 2008, you were probably doing something wrong." Mr. Covel quickly dispatches with this comment as part of Wall Street's "conditioning." He further explained that true wealth is found in the trend, not fundamentals and not the latest news flash. He explained this is why so many trend followers flourished in 2008, while other once popular managers flamed out.

Not one to just beat his drum, the author mixed in biographical interviews and insights from other world class trend following managers covering some the industries best known managers. These insights I personally found most helpful as a trend following manager and signal site operator (see [...] As an example, I love what the Sunrise Capital guys had to say about risk.
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