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Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets Paperback – February 15, 2009
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“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
"I think that Michael's Trend Following is an outstanding read from which all
investors can learn to trade markets better by limiting their risks and maximizing
their profits through a more disciplined approach to investments."
Managing Director, Marc Faber Limited
Editor, Gloom, Boom & Doom Report
"I think the book did a superb job of covering the philosophy and thinking behind
trend following (basically why it works). You might call it the Market Wizards of
Van K. Tharp, Ph.D.
Author of Trade Your Way to Financial Freedom
"Michael Covel does an excellent job of educating his readers about the little-known
opportunities available to them through one of the proven best hedge fund
strategies. This book is like gold to any smart investor."
"Michael Covel's book is the definitive guide to trend trading. Backed by real world
results from some of the biggest and best money managers in the United States, his
book will put you on the path to successful trend trading."
"Michael Covel's Trend Following is a breakthrough book that captures the essence
of what really makes markets tick. Diligently researched and comprehensive in
scope, it will replace Market Wizards as the must-read bible for a new generation of
Fox News Contributor
"Trend Following: Definitely required reading for the aspiring trader."
David S. Druz
Tactical Investment Management
"I think that this book documents a great deal of what has made Trend Following
Managers a successful part of the money management landscape (how they manage
risk and investment psychology). It serves as a strong educational justification on
why investors should consider using Trend Following Managers as a part of an
overall portfolio strategy."
Originally profiled in The New Market Wizards
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
Top Customer Reviews
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.Read more ›
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.
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.Read more ›
Most Recent Customer Reviews
Great book. It has VERY IMPORTANT BASIC information. OUTSTANDINGPublished 15 days ago by Rhea Fullmer
One theme throughout the book,repeated by one enormously successful trader after another,is once they initiate a trade, they have no idea what's going to happen... Read morePublished 1 month ago by Patrick J Reagan
You might hate this guy. He might ruffle your feathers. But keep reading. Listen to his podcast. If you believe in his message-- good job. You're a proven skeptic. Read morePublished 2 months ago by M. Zambotti
This was more of a rebuttal to critics than a tool for traders. I like Mike's approach but track records speak volumes and if they are private companies who. Read morePublished 3 months ago by Anne B. Keller
I found this book fun to read and kind of exciting as I thought about making millions in up and down markets. Read morePublished 4 months ago by Amazon Customer
I have run and tried the many investing philosophies-momentum, technical analysis, value investing, macroeconomic trends, contrarian, income, precious metals, options, making some... Read morePublished 4 months ago by Amazon Customer
Michael Covel is one of the best terrific Writer and Speaker in the country and Trend Following is the best intelligent Book ever. Read morePublished 5 months ago by Ken O.
I recently re-read this book and got more out of it this time than the previous. I enjoyed this book more than any other financial book that I have read.Published 5 months ago by Chris C. Connell