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Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets, [Kindle Edition]

Michael W. Covel
4.0 out of 5 stars  See all reviews (250 customer reviews)

Digital List Price: $36.99 What's this?
Print List Price: $36.99
Kindle Price: $10.79
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Book Description

Discover the investment strategy that works in any market. The one strategy that works in up and down markets, good times and bad.

 

  • ‘Trend Following’ has become the classic trading book — accepted by the great pro traders as their standard..  Learn how Trend Followers delivered fantastic returns while everyone else was losing their shirts.
  • Simple charts and instructions help you use Trend Following no matter where the market goes next.

  • Includes new profiles of top Trend Followers who’ve kept right on profiting through the toughest markets.

     

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Editorial Reviews

Review

“Michael Covel’s Trend Following: Essential.”

--Ed Seykota, trend follower for 35 years and original Market Wizard

 

"For my staff, Michael Covel's Trend Following is required reading."

Larry Hite CEO, ISAM,

Originally profiled in The Market Wizards by Jack Schwager

 

"My favorite of the new TA [technical analysis] books is 'Trend Following' by Michael Covel. Straightforward, easy to read, this book is rich in details about why trend following is such a successful strategy amongst some of the world's best-performing hedge funds."

Barry Ritholtz, The Big Picture

 

“A mandatory reference for anyone serious about alternative investments.”

--Jon Sundt, president and CEO, Altergris

 

From the Back Cover

Today, you need trend following more than ever. Read this bestselling book, and put it to work for you! 

  • Real proof, real data, real results
    Includes over a decade of detailed performance charts
  • All the Information You Need...in One Number
    Why the market price still tells you all you need to know to trade--and always will--in both bull and bear markets
  • Pinpointing Targets of Opportunity
    What to trade, when to trade, and how much to trade
  • Meet Today's Leading Trend Followers
    Extraordinary trader profiles, from David Harding to John W. Henry to Ed Seykota 

Product Details

  • File Size: 5411 KB
  • Print Length: 464 pages
  • Simultaneous Device Usage: Up to 5 simultaneous devices, per publisher limits
  • Publisher: FT Press; 1 edition (February 15, 2009)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B001UID8LY
  • Text-to-Speech: Enabled
  • X-Ray:
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #74,159 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
53 of 55 people found the following review helpful
4.0 out of 5 stars Something new January 12, 2011
Format:Kindle Edition
I Thought I had seen and read just about everything to do with trading. From histories of great traders, complicated option formulas, economic theory, the meanings of government statistics and more. Hearing about Covel and reading some of his shorter posts I kept wondering how something as simple sounding as trend following could be a whole book. After finally reading it hardly a day goes by that I'm not thankful for letting "Trend Following" showing me how simple it can be.
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97 of 106 people found the following review helpful
4.0 out of 5 stars A Philsophy Book, Not a Technical Manual July 29, 2009
Format:Paperback
Trend Following is the sort of book that can either be very rewarding or very frustrating. If you pick it up thinking it's going to provide some secret methods and techniques for trading you are going to end up being one of the folks who ends up panning it because they didn't get what they expected. This is not a technical manual full of strategies. If you understand that going in you'll get a lot more out of it.

This book, to my mind is like a trading version of a text exploring a specific philosophy such as Taoism with something of a comparisson to Buddhism, for example. Trend Following describes the philosophy and highlights some of its promonent proponents. And just like most books on philosophy, it sets you up for further exploration rather than presenting you with a "how to" instruction.

I think if you have the philosophy mindset going in it will go a long way toward helping you find value in the book.
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53 of 56 people found the following review helpful
Format:Paperback
Mchael did a very good job in putting this piece together. This is NOT a "how to" book so if that's what you are looking for you will be disappointed. However, it is full of philisophical quotes and commentary from some of the best trend following traders. It's a must read for anyone seriously looking at trading as a business venture. The subject matter is well-researched and is a good 'opening introduction book' for the novice trader. Great work Mike!
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45 of 47 people found the following review helpful
5.0 out of 5 stars Trend Following- get off the fence and buy this book January 12, 2011
By Bruce
Format:Paperback
Excellent Book! It challenges the conventional television pundit/CNBC wisdom and approach to succesful trading and traders. Covel is effective in cutting through all the barage of fundemental data and boiling it down to simple and reliable truth: Price/Momentum/Trend. You will be encouraged, educated and equipped!
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47 of 50 people found the following review helpful
4.0 out of 5 stars The Trend Follower Manifesto April 27, 2009
By korova
Format:Paperback|Vine Customer Review of Free Product (What's this?)
Michael Covel is out to save you! He wants to free you from worrying about every little news item that shows up in the WSJ or on CNBC. He'll show you how to stop wasting time trying to make forecasts. And, best of all, he knows how to make money in both advancing and declining markets. Sound good to you?

Well, don't get *too* excited. Trend Following is not a how-to-guide. It doesn't contain any trading "secrets" or tricks. It's really a foundational text that thoroughly describes the philosophy and concepts underlying a trading system driven solely by price trends. Covel uses both hard data and anecdotal evidence, with a strong emphasis on behavioral finance concepts throughout, to make his case.

Keep in mind that if you end up being convinced by Covel, you will have to do a fair amount of additional work to implement his strategy. In other words, just reading Trend Following will not make you ready to start making trend-based trades, much as simply reading chemistry and physics textbooks won't make you a chemist or a physicist. You will need to determine which markets to trade, your parameters for opening and closing positions, and how much risk you are willing to assume. As such, this book is not for novice investors or for people who are not able to make a deep commitment to developing their own trading methodology.

Nonetheless, Trend Following is a book every serious investor should read. Even if you don't buy everything Covel says, it is always useful to question your assumptions, preconceptions, and past actions. No trading strategy is perfect. At a minimum, Trend Following will help you recognize the flaws and weaknesses in what you're currently doing.
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267 of 311 people found the following review helpful
1.0 out of 5 stars A marketing driven success. More fluff than substance. December 24, 2009
By Online
Format:Paperback
I believe the positive review on this book are questionable. It was a huge waste of my time. The book has information about trend followers, who they are, why the do it, why they prefer following price over fundamentals, etc. I believe all that. It also talk about the fact trend follows have risk management systems, why they are important, but doesn't say what those systems are. Nor does it explain how to be a trend follower, what to look for, how to create a system, what risk management looks like. Its 200+ pages that says a lot of nothing. Sure, there are people that follow trends and make huge money doing it. But it does not say how to be a trend follower, or how the average person can buy commodities, FX, futures etc, the markets trend followers use. I hate books that promote stuff, but then don't actually tell you anything or how to do it. It does suggest that stocks are the hardest asset class to be a trend follower, but then an appendix had an interesting study that supported trend following in stocks. So who knows. But don't promote trend following if you're not going to then at least suggest resources of how the regular investor (the person this book is directed towards) can buy commodities, fx or futures and be a trend follower

If you're looking for strategies about trend following, when to buy or sell, which type of strategies to follow, which strategies successful trend follower use, don't buy this book. It does not disclose anything about trend following systems. I'll summerize...trend following exists, some people make huge money doing it, they view the world this way. That's it.

I firmly believe that this book is highly ranked because the author is a successful and smart marketing individual.
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Most Recent Customer Reviews
5.0 out of 5 stars Highly Enjoyable
I an new to trend following and this book was a great way to learn about how to trend follow. It took me considerable time to get through some of the charts and data. Read more
Published 18 days ago by Alexander Rogers
1.0 out of 5 stars a Big Disappointment
This book was one long info-mercial, a defense of trend-following by touting the alleged wisdom of the "great" trend-followers. Read more
Published 24 days ago by Philip H. Sartell
2.0 out of 5 stars Don't believe the hype...
My previous experiences with the author as a customer of his "sought after" Turtle Trader System leave me skeptical of any promises his books or products might make. Read more
Published 1 month ago by qqqq
2.0 out of 5 stars Content: Good. Format: BAD
Preface: I have the kindle version of this book.
The format is AWFUL. Covell randomly (every couple paragraphs) inserts these ridiculous, non-linear, sans context,... Read more
Published 2 months ago by Blaine
3.0 out of 5 stars Good Overview; lacks specifics, but recovers in the book's appendices
He does a wonderful job of describing the trend-following movement and those who have used to success. Read more
Published 2 months ago by Jeffrey Warren
2.0 out of 5 stars 420+ pages expressing 200 or less pages of interesting non-repeating...
Those that can, do!
Those that can't, teach.
Those that can't teach do a lot of talking (pitching). Read more
Published 2 months ago by Mark Hoffman
5.0 out of 5 stars Get ready to change your view of the world
I must admit that I've been a huge fan of Michael Covel for years.
I read the first edition of the book and was hooked. Read more
Published 2 months ago by Hans-Henrik Nielsen
2.0 out of 5 stars I wish I would have read the reviews
I agree with John Forman's review here on Amazon before buying this book. He states it perfectly in saying that this book is not a technical manual and is a philosophy book. Read more
Published 3 months ago by Ryan Parnow
2.0 out of 5 stars I Think that Dean Koontz has a New Book Out
Wow, what a neat compendium of stories, quotes, bromides, and general advice. Each chapter seems to be filled with great stories about everyday ordinary billionaires who trounce... Read more
Published 3 months ago by 4321dud
1.0 out of 5 stars A self promoter
Dont waste your money buying any of Michael Covel's books. Absolutely no substance on trend following. Hes a self promoter hoping you buy into his expensive trading systems. Read more
Published 4 months ago by Steve Y.
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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 TurtleTrader.com®. 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 TurtleTrader.com®.

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.

www.michaelcovel.com/about



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