Trend Following
How Great Traders Make Millions in Up or Down Markets, New Expanded Edition
Published on 22. December 2005
Book
Hardback
448 pages
978-0-13-134550-8 (ISBN)
Description
How did John W. Henry quietly become rich enough to buy the Boston Red Sox? How have traders like Keith Campbell, Bill Dunn, Jerry Parker, and Salem Abraham consistently generated immense wealth in bull and bear markets? The key is trend following -- the only strategy proven to consistently make money. Michael Covel reveals the "underground" network of little-known traders and hedge fund managers who've been following trend for decades. He introduces its fundamental concepts and techniques, showing why market prices contain all the information investors need, and how to understand price movements well enough to profit from them. Using 100 pages of easy-to-understand charts from top trend followers, Covel proves the strategy works -- and shows why only a technical system based on following price trends can win over the long term. Covel presents more than a decade's worth of data: even more backtested trend following results. Covel thoroughly debunks misinformation and failed advice. This timely book capitalizes on today's intense volatility and uncertainty to give investors what they're desperately searching for: a strategy that really works.
Reviews / Votes
A recent interview with Michael Covel on Bloomberg Radio (6.5 MB MP3 audio file) about trend following."Please read [Trend Following] whether you think you have an interest in trend following or are not quite sure. I guarantee you will be happy that you took the time. It, of course, covers how trend following works, how it's done, and who can do it, and it doesn't beat around the bush with generalities. Again, get this book. Covel has hit a homerun with it."
Gail Osten, Editor-in-Chief
Stocks, Futures & Options Magazine
Official Journal for Personal Investing in Stocks, Futures and Options
"A mandatory reference for anyone serious about alternative investments."
Jon Sundt, President and CEO of Altegris
"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."
Christian Baha, CEO, Superfund
"A most interesting book -- definitely a 'must have' on your shelf. Pull out the plastic and get it!...Trend Following is well constructed, well written and an excellent distillation of the research undertaken by the author. Backed up by trading 'legends' like Ed Seykota, it convincingly argues that the most successful trading systems are based on trend following...While you may read the book in bed, especially the first time, it is best read at a desk with a notepad handy. While seeming to come from the perspective of technical analysis it is still a very good book on trading psychology...The book is both a great read and an insightful textbook for all traders and investors."
Garnett Znidaric
Your Trading Edge Magazine/strong>
Australia
"Michael Covel's Trend Following: Essential."
Ed Seykota
Trend Follower for 35 years, Incline Village, NV
The Trading Tribe
Ed was originally profiled in The Market Wizards by Jack Schwager
"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."
Larry Connors
CEO, TradingMarkets.com
"Covel has created a very rare thing - a well-documented and thoroughly researched book on trend following that is also well-written and easy to read. It touches on a wide variety of the principles and practices which make for successful trend following. This is one book that traders at all levels will find of real value."
John Mauldin
Millennium Wave Investments, Arlington, TX
Author of Bull's Eye Investing and editor of Thoughts from the Frontline
"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 Trend Following."
Van K. Tharp, Ph.D.
Author of Trade Your Way to Financial Freedom
President, International Institute of Trading Mastery, Inc.
Van was originally profiled in The Market Wizards by Jack Schwager.
More details
Language
English
Place of publication
Upper Saddle River
United States
Publishing group
Pearson Education (US)
Target group
Professional and scholarly
Dimensions
Height: 244 mm
Width: 181 mm
Thickness: 36 mm
Weight
988 gr
ISBN-13
978-0-13-134550-8 (9780131345508)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
New editions
Book
03/2009
Financial TImes Prentice Hall
€37.13
Article is exhausted; no reprint
Michael W. Covel
Trend Following
How Great Traders Make Millions in Up or Down Markets, New Expanded Edition, (Paperback)
Book
03/2007
Financial TImes Prentice Hall
€13.61
Article exhausted; check for reprint
Previous edition
Book
05/2004
Financial TImes Prentice Hall
€24.75
Article exhausted; check for reprint
Person
Michael W. Covel is the founder and President of Trend Following (TM). A researcher of the most successful Trend Following investment managers, he has been in the alternative investments industry consulting on Trend Following to individual traders, hedge funds and banks for ten years. His best selling book, Trend Following: How Great Traders Make Millions in Up or Down Markets (Prentice Hall, May, 2004) is a complete and concise guide to trend following. It includes interviews with great trend followers who have won millions if not billions in the market. The trading world has embraced the book with endorsements from Van K. Tharp, John Mauldin, Ed Seykota and many more. Trend Following is now in its sixth printing, and is currently available in a Japanese translation with Chinese, German, French, Korean and Russian translations soon to follow. Teaching and sharing unique insights about Trend Following trading and alternative investments has earned Mr. Covel respect as a rational and logical voice in uncertain times. Covel can explain how the best traders think because he's taken them to lunch in order to find out. Mr. Covel also writes for numerous industry publications including TradingMarkets.com, Your Trading Edge Magazine, Futures Japan Magazine and Stocks, Futures and Options Magazine. He is consistently quoted and interviewed by likes of Bloomberg Radio, Technical Analysis Magazine and Barrons.
Michael Covel
Mr. Covel is also Managing Editor at TurtleTrader.com (R), the leading Trend Following news and commentary resource since 1996. Thousands of visitors from more than 70 countries as well as hundreds of trading professionals engaged in years of debate and interchange making the site the rich archive of trading information, data and opinion that it continues to be today. TurtleTrader, one of the largest & strongest trading community on the web with over 7.5 million unique visitors since its inception, also functions as a resource center for the Trend Following Educational Course.
Michael Covel
Mr. Covel is also Managing Editor at TurtleTrader.com (R), the leading Trend Following news and commentary resource since 1996. Thousands of visitors from more than 70 countries as well as hundreds of trading professionals engaged in years of debate and interchange making the site the rich archive of trading information, data and opinion that it continues to be today. TurtleTrader, one of the largest & strongest trading community on the web with over 7.5 million unique visitors since its inception, also functions as a resource center for the Trend Following Educational Course.
Content
Foreword.
Preface.
Acknowledgments.
1. Trend Following.
2. Great Trend Followers.
3. Performance Data.
4. Big Events in Trend Following.
5. Baseball: Thinking Outside the Batter's Box.
6. Human Behavior.
7. Decision-Making.
8. Science of Trading.
9. Holy Grails.
10. Trading Systems.
11. Conclusion.
APPENDICES.
Introduction to Appendices.
Appendix A: Fidelity Wealth-Lab Pro(tm).
Appendix B: Performance Guide.
Appendix C: Short-Term Trading.
Appendix D: Personality Traits of Successful Traders.
Appendix E: Trend Following Models.
Appendix F: Trading System Example from Trading Recipes.
Appendix G: Modern Portfolio Theory and Managed Futures.
Appendix H: Critical Questions for Trading Systems.
Resources.
Endnotes.
Bibliography.
About the Author.
Index.
Preface.
Acknowledgments.
1. Trend Following.
2. Great Trend Followers.
3. Performance Data.
4. Big Events in Trend Following.
5. Baseball: Thinking Outside the Batter's Box.
6. Human Behavior.
7. Decision-Making.
8. Science of Trading.
9. Holy Grails.
10. Trading Systems.
11. Conclusion.
APPENDICES.
Introduction to Appendices.
Appendix A: Fidelity Wealth-Lab Pro(tm).
Appendix B: Performance Guide.
Appendix C: Short-Term Trading.
Appendix D: Personality Traits of Successful Traders.
Appendix E: Trend Following Models.
Appendix F: Trading System Example from Trading Recipes.
Appendix G: Modern Portfolio Theory and Managed Futures.
Appendix H: Critical Questions for Trading Systems.
Resources.
Endnotes.
Bibliography.
About the Author.
Index.