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Trend Commandments: Trading for Exceptional Returns Hardcover – June 24, 2011
The Amazon Book Review
Author interviews, book reviews, editors picks, and more. Read it now
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Customers Who Bought This Item Also Bought
"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!"
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."
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."
Market Wizard Trading Coach
"A rapidly moving, non-technical, and outside-the-box effort that smartly captures the essentials of trend following."
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."
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."
"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
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."
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."
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."
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
Top Customer Reviews
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
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.Read more ›
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.Read more ›
Most Recent Customer Reviews
Mr. Covel goes into detail about Trend following trading, gleaming many ideas from the Turtle Traders experiment in the early 1980'sPublished 1 month ago by Danny
Another great read by Michael Covel. Of all the trading styles out there trend following is the one that clicked for me. Read morePublished 2 months ago by Daniel P. Hayes
A well written, must have book for those interested in trend following. Having read over 80 books on trading, Covels books are up there with the best of them. Read it.Published 2 months ago by Zan Anastovski
No soft touch here. Direct and very good ideas laid out with directness. The author does not mince words. I think it is excellent advice.Published 2 months ago by Seabob46
Cover offers an alternative to the usual dogma of investing. The book is an easy read and easy to follow. As an individual investor i found the theories interesting. Read morePublished 5 months ago by JReuveni
Disappointing. A few self-evident rules about trend following sprinkled into a mush of cutesy quotations and endless pointlessness. Read morePublished 6 months ago by Reader
In this book, Covel's extremely narrow-mined and biased... Maybe Trend Following is a better read, relatively balanced.Published 8 months ago by Amazon Customer
Good information but poorly written. I agree with trend following.Published 9 months ago by Roger Poundstone
A "must read" in trend following series. I read all Michael Covel's books. He is done a great research in trend following. Read morePublished 9 months ago by Amazon Customer