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Trend Commandments: Trading for Exceptional Returns Hardcover – June 24, 2011

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Trend Commandments: Trading for Exceptional Returns + Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets + The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires
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Editorial Reviews

Review

"An outstanding book [Trend Commandments] for anyone who wants to become rich by trading markets. Today, government regulations and fiscal and monetary policies are badly distorting financial markets. Covel accurately explains why, in this 'manipulated' financial environment, you should never expect markets to move as you wish or expect. Rather, disregard your fundamental beliefs and simply follow the trend. Highly recommended!"

Marc Faber

Managing Director, Marc Faber Ltd.

Editor, Gloom Boom & Doom Report

 

"If you are even thinking of a career in trading, put down all the other books. Buy this one [Trend Commandments]. Read it. Now you can start your career."

James Altucher

Managing Director, Formula Capital

 

"Fire up the barbecue. Michael Covel skewers the sacred cows of Wall Street with tasty bite-sized bits of the truth about what it really takes to succeed in trading and life. Wide-ranging, irreverent, revealing, eminently quotable, and right on the money."

Charles Faulkner

Market Wizard Trading Coach

 

"A rapidly moving, non-technical, and outside-the-box effort that smartly captures the essentials of trend following."

Peter Borish

Chairman and CEO, Computer Trading Corp

 

"Michael Covel's Trend Commandments is full of practical wisdom in bite-size portions on the benefits of trend trading--written in a straightforward storytelling format. It's definitely one to add to your financial bookshelf."

David Stendahl

Signal Financial Group

 

"Michael Covel is the very best at explaining the concepts of successful trend following in plain English. I'm certain you'll be a successful trader if you follow the ideas he outlines in Trend Commandments. This book (and his previous two!) are required reading for new employees in my office."

Steve Sjuggerud

DailyWealth

 

"Investors have experienced two bear markets in the last decade. This has led to rising volatility, uncertainty, and investor angst. For some it has been a lost decade, but for trend traders it has been a decade of opportunity. Trend Commandments helps you focus on what matters most: the trend of the markets, whether up or down. You can profit from either. Trend Commandments is essential reading for those who have the desire to thrive and survive in an era of fast-paced trending

markets."

Jim Puplava

CEO, Chief Investment Strategist, PFS Group

 

"Buy and hold has been a difficult investment system for investors for a decade. In Trend Commandments, Covel challenges readers to think differently and question their beliefs about market 'truths' ingrained in them for years. Forewarned, you just may never see the world the same way again."

Mebane Faber

Cambria Investment Management

 

"Covel's Trend Commandments offers a breezy rumination on what is right about trend following and what is wrong about conventional trading approaches."

Jack Schwager

Author of Market Wizards and Schwager on Futures series

 

"Trend Commandments is a compelling read taking on serious issues in an entertaining format. The chapter of 'Inefficient Markets' is a must read, and I'm still laughing at the 'Intoxication' chapter--because in truth there is humor."

Mark H. Melin

Author of High Performance Managed Futures

Director, Managed Funds, Peregrine Financial Group

 

"Successful traders need rules and the rules in this book are better than most since they are from the most successful traders in the world. Catch my drift? To be successful you must learn and apply these rules. I rate this book a 3x--as to be read at least three times."

Timothy Sykes

Author of An American Hedge Fund

 

"In Trend Commandments Covel writes, 'Golf Legend Jack Nicklaus is famous for saying: 'Don't be too proud to take a lesson. I'm not. Learn the fundamentals of the game and stick to them.' Every beginning or experienced trend follower should take lessons from this book and your previous books. I have been a trend follower for over 40 years and I am not too proud to take lessons."

James O. Rohrbach

Investment Models, Inc.

From the Back Cover

“An outstanding book for anyone who wants to become rich by trading markets. Highly recommended!”

--Marc Faber, Managing Director, Marc Faber Ltd., and Editor, “Gloom Boom & Doom Report”

 

“If you are even thinking of a career in trading, put down all the other books. Buy this one. Read it. Now you can start your career.”

--James Altucher, Managing Director, Formula Capital

 

“A rapidly moving, non-technical, and outside-the-box effort that smartly captures the essentials of trend following.”

--Peter Borish, Chairman and CEO, Computer Trading Corp

 

“Covel offers a breezy rumination on what is right about trend following and what is wrong about conventional trading approaches.”

--Jack Schwager, Author of Market Wizards and Schwager on Futures series

 

Trend Commandments is definitely one to add to your financial bookshelf.”

--David Stendahl, Signal Financial Group

 

“I’m certain you’ll be a successful trader if you follow the ideas Covel outlines in Trend Commandments.”

--Steve Sjuggerud, DailyWealth

 

Trend Commandments is essential reading for those who have the desire to thrive and survive in an era of fast-paced trending markets.”

--Jim Puplava, CEO, Chief Investment Strategist, PFS Group

 

“Covel challenges readers to...question their beliefs about market ‘truths’ ingrained in them for years. Forewarned, you just may never see the world the same way again.”

--Mebane Faber, Cambria Investment Management

 

“Wide-ranging, irreverent, revealing, eminently quotable, and right on the money.”

--Charles Faulkner, Market Wizard Trading Coach

 

In the bestsellers Trend Following and The Complete TurtleTrader, Michael W. Covel introduced trend following trading with painstaking detail and real-life stories. This new book offers a 360-degree vision designed to teach, compare, contrast, inspire, and push you to trend trading success.

 

Up? Down? It doesn’t matter. There are always trends, and that means there are always profits. Many of the world’s top traders are trend followers: That’s key to a fortune. You can do it, too--and now you have the rare perspective it takes to be a trend following winner.

 

One bite-size concept and illustration at a time, Covel shows how you can get ahead in an age of nonstop financial crisis and deepening instability. Winning means the right techniques, psychology, philosophy, and even skepticism--it’s all part of the learning, then earning process.

 

Trend Commandments delivers real moneymaking insights developed and cultivated from 15 years of behind-the-scenes research--intellectual access you can’t fake. It’s the most digestible and one-of-a-kind trend trading book ever written. 

  • Reap the spoils when domestic and global markets crash...
    ...
    and find big waves to ride even when people aren’t panicking
  •  Don’t waste time trying to predict the future...
    ...
    learn how to think and react to what is actually happening
  •   Decipher the ‘noise’ in a sea of competing voices...
    ...
    let go of ‘value,’ mutual funds, the Buffett legend, and Goldline (to name a few)
  •  Listen to the market. It always tells the truth...
    ...
    and the “price” is the only true trading reality you can trust
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Product Details

  • Hardcover: 288 pages
  • Publisher: FT Press; 1 edition (June 24, 2011)
  • Language: English
  • ISBN-10: 0132695243
  • ISBN-13: 978-0132695244
  • Product Dimensions: 6.4 x 1 x 9.3 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (161 customer reviews)
  • Amazon Best Sellers Rank: #60,713 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: trendfollowing.com/about.

Customer Reviews

Most Helpful Customer Reviews

35 of 38 people found the following review helpful By Grady Harp HALL OF FAMETOP 100 REVIEWERVINE VOICE on July 15, 2011
Format: Hardcover
Anyone who has read any of Michael W. Covel's books knows from the outset that this newest book TREND COMMANDMENTS is going to be not only a learning experience but a very supportive tome of advice and reassurance about a subject few of us understand. Having read 'The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires' this reader jumped at the chance to see what else Covel has up his sleeve.

Trend Trading may seem like yet another of those big money terms that leaves the bulk of us on the outside. But as presented by Covel it is understandable as a concept and accessible as a means of approaching the money market. By definition, 'Trend following is an investment strategy that tries to take advantage of long-term moves that seem to play out in various markets. The strategy aims to work on the market trend mechanism and take benefit from both sides of the market, enjoying the profits from the ups and downs of the stock or futures markets. Traders who use this approach can use current market price calculation, moving averages and channel breakouts to determine the general direction of the market and to generate trade signals. Traders who employ a trend following strategy do not aim to forecast or predict specific price levels; they simply jump on the trend and ride it.'

And that is exactly what Covel encourages in this well-written book. He offers insights into the strategies that the big moneymakers use to be true winners 'grounded in real performance results and not squishy opinions.' In these chaotic economic times it is comforting to read a book by an informed man who tells it like it is and follows those realities with his own brand of optimism and self-sufficiency. the book reads well, does not bog down with data charts that are page flippers for novices, but steadily stands behind our insecurities and creates positive transformations. Grady Harp, July 11
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93 of 109 people found the following review helpful By Steve Burns TOP 1000 REVIEWERVINE VOICE on June 30, 2011
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This is a very valuable book because it distills the wisdom of some of the world's greatest traders into one place. Michael Covel has spent 15 years studying the methodology, risk management, and psychology of legends like Ed Seykota, Larry Hite, previous turtle traders, Paul Tudor Jones, Salem Abraham and many others. He has also studied the entire history of trend following and the writings of historical figures like Jesse Livermore, Richard Donchian, and Charles Dow.

This book is compilation of the principles that real life trend followers used to make and keep millions, and for some billions in the market. Any trader should be able to pick up this book and get inside the minds of these market wizards.

The problem is that many people do not "get" trend following. They ignore the success of these traders and want to opine about how it does not work, or complain that the draw downs are to large, or that these are only the "survivors" what about the trend following losers? I would like to say these are not the authors opinions these are proven principles, the success of this style of trading has been proven, draw downs occur for all traders (except for frauds like Bernie Madoff), and I do not know of any trend followers who blew up that used proper risk management.

I can say from personal experience of successful trading and my own track record of capital growth at a cumulative total of over 200% in an 8 year period when the market was essentially flat, that trend following works. The principles of Covel's book Trend Following was a major early influence for me. The principles I learned from Covel's book along with the Nicolas Darvas books showed me the importance of reversing my positions and stopping losses when a trend reversed.
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126 of 151 people found the following review helpful By Osmun R. Latrobe VINE VOICE on October 3, 2011
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
Writing this review goes against my visceral feelings. After reading this book, I have an almost overwhelming desire to be subjective. But, keeping that in check, these are my objective evaluations.

Ever been to one those free seminars that promise to teach you how to become a millionaire in your spare time? I have not, but I do know that they don't teach you anything. They are a prelude for an expensive course that promises to teach you how to become a millionaire in your spare time. Which of course it doesn't, but that's because you didn't focus hard enough. This is like the seminar, except that it is not free and there is no follow-up course. After reading this book the only thing you will know about trend trading is what you knew when you started (actually more likely less). This book is pure salesmanship, pretending to teach you about trend trading, when all it does is give a sales pitch that trends are the thing. Most of its contents are glowing reports of the success of the writer's friends, who oddly happen to be the same people who wrote the endorsements in the book description. And, to give it objectivity, it throws in personal attacks on W. Buffett and "value investing", but who, it is disclosed, is actually a trend trader, or not, depending upon which paragraph you read.

The book contains not one useful idea about trading trends. Worse, it is dramatically self-contradictory:

Never get greedy, no one can predict the market tops, versus the secret of success is letting your winning positions ride.

Always let your winning positions ride versus be sure to use stop loss orders to prevent reversals. Well how do you account for interim fluctuations, the variability that is a natural part of trends.
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