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Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets Paperback – February 25, 2009

ISBN-13: 978-0137020188 ISBN-10: 013702018X Edition: 1st

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Product Details

  • Paperback: 464 pages
  • Publisher: FT Press; 1 edition (February 25, 2009)
  • Language: English
  • ISBN-10: 013702018X
  • ISBN-13: 978-0137020188
  • Product Dimensions: 9.2 x 7 x 1.2 inches
  • Shipping Weight: 1.9 pounds (View shipping rates and policies)
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (293 customer reviews)
  • Amazon Best Sellers Rank: #56,148 in Books (See Top 100 in Books)

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 

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.

Related Media

 
   

Customer Reviews

I highly recommend this book to any experienced trader or anyone thinking about investing.
F. Spinnato
I think there may be as much value in the margin quotes as in the body of the book for those who take the time to read them and think about them.
Matt Blankenship
In Trend Following, author Michael Covel gives a good overview of the trend following methodology.
Matthew L. Fry

Most Helpful Customer Reviews

99 of 108 people found the following review helpful By John Forman on 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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55 of 58 people found the following review helpful By Eric Cunningham on June 21, 2010
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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54 of 57 people found the following review helpful By adam kress on 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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46 of 48 people found the following review helpful By Bruce on January 12, 2011
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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48 of 51 people found the following review helpful By korova on April 27, 2009
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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283 of 328 people found the following review helpful By Online on December 24, 2009
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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