Trend Following: How Great Traders Make Millions in Up or Down Markets (Paperback)

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• This item: Trend Following: How Great Traders Make Millions in Up or Down Markets by Michael W. Covel

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• Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders by Curtis Faith

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• The New Market Wizards: Conversations with America's Top Traders by Jack D. Schwager

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Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders by Curtis Faith 4.1 out of 5 stars (15)  £10.79

The New Market Wizards: Conversations with America's Top Traders by Jack D. Schwager 4.5 out of 5 stars (14)  £7.49

Market Wizards: Interviews with Top Traders by Jack Schwager 4.3 out of 5 stars (19)  £9.89

The Complete TurtleTrader: The Legend, The Lessons, The Results by Michael W. Covel 3.0 out of 5 stars (4)  £13.59

Trade Your Way to Financial Freedom by Van K. Tharp 4.4 out of 5 stars (28)  £13.29

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Review
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 EdgeMagazine/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.

Robert (Bucky) Isaacson, Managed Money and Trend Following Pioneer for 30+ Years
This is a valuable contribution and some of the best writing on trend following I've seen. --This text refers to the Hardcover edition.

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First Sentence
A market is simply a place where buyers and sellers gather to trade and exchange goods, buying and selling for any number of reasons. Read the first page Browse Sample Pages
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover

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8 Reviews 5 star:    (0) 4 star:  (3) 3 star:  (2) 2 star:  (2) 1 star:  (1)           Average Customer Review 2.9 out of 5 stars (8 customer reviews)		Share your thoughts with other customers: Create your own review
Most Helpful Customer Reviews   19 of 19 people found the following review helpful: 3.0 out of 5 stars Interesting, 31 Dec 2005 By  PureSymmetry (london) - See all my reviews This review is from: Trend Following: How Great Traders Make Millions in Up or Down Markets (Financial Times Prentice Hall Books) (Hardcover) Great piece of background reading, good for the beginner trying to work out what type of trading strategy to use. Trend Following appears to be the most profitable type of technical analysis strategies and Covel does go into the whys and wherefores of how they work. Though if you're interested in system development, strategies etc go for any of Van tharps, William ONeil, Martin Zweig and Vic Sperandeo books. If you're interested in background reading I also recommend the Reminiscences Of a Stock Operator, Market Wizards and New Market Wizards. Trade Well! Comment Comment | Permalink | Was this review helpful to you? Yes No (Report this)   12 of 12 people found the following review helpful: 4.0 out of 5 stars Worth it in the end, 2 Dec 2007 By  T. Richards (London) - See all my reviews (REAL NAME)    It took a fair amount of effort to wade through the large amount of baloney, hype and hero-worship which this book contains. For example, what is a chapter about baseball doing in a book about trading strategies? However, there are definitely nuggets of useful information in this book, and the appendices at the end contain some actual recipes for trading strategies with some backtest results. Ultimately Covel succeeds in what he is trying to do, which is to popularise the idea of trend-following. The idea is that you only enter a market when there is a trend (as defined by a breakout signal, of which there are many to choose from) and then ride the trend as long as possible. He gives examples of successful funds which manage money using these techniques (although the performance charts showing compounded returns don't always look quite as good when inspected carefully), so it seems it can be done. The book also shows that the discipline of risk-management and sticking to your knitting are more important than the source of the signals themselves. Nor does Covel shy away from explaining that large losses (or 'drawdowns' as he prefers to call them) are possible. In fact in trendless markets a trend-following system is almost guaranteed to lose money as it buys high and sells low on 'false signals'. In sum, a decent introduction to trend following. Pedants like me will be annoyed by some of the grammatical and spelling errors and there are a few inconsistencies too. One thing that really needs to be protested is the implication that anyone involved in financial markets who is not trend-following must be a fool. Buy-and-hold is derided, the example of Warren Buffett being refuted by the odd arguments that 1) he is just one man and 2) he also uses derivatives. Let's imagine what the world would be like if everyone bought and sold like a trend-follower. First of all, there wouldn't initially be any market movement because everyone would be waiting for a signal. Then, if there was a change in price, every trend-follower would immediately chase it in the same direction to either zero or infinity. In fact there would be no market because if everyone was a trend-follower then there would be no-one willing to take the other side of the trend-followers' trades. To say it a slightly different way, with no notion of fundamental value, prices can get to silly levels (imagine bonds trading higher than the sum of their cashflows for example). In fact, the only reason trend-following has a chance of working is because of the existence of natural buyers and sellers (ie 'non-traders') who have business reasons for transactions, as well as value investors and arbitrageurs. Trend followers hope that these market participants are 'greater fools', and this may well be true while there are not a huge number of trend followers in the market. Which brings me onto the final point- beware of becoming a trend-follower just as a successful book about trend-following is popularising the idea. It is clear that with a greater proportion of trend-followers in the market, the returns will be less (since trading is a zero-sum game as Covel repeatedly points out, if everyone was a trend-follower then for every winner there must be a loser). I understand that Covel is already working on a book called 'Swing Trading: How to make money in sideways markets' Comment Comment | Permalink | Was this review helpful to you? Yes No (Report this)   15 of 17 people found the following review helpful: 4.0 out of 5 stars Insightful!, 28 April 2005 By  Rolf Dobelli "getAbstract.com" (Switzerland) - See all my reviews (TOP 50 REVIEWER)    (REAL NAME)    This review is from: Trend Following: How Great Traders Make Millions in Up or Down Markets (Financial Times Prentice Hall Books) (Hardcover) This is a book very much in the tradition of Jack Schwager's Market Wizards. Like Schwager, author Michael Covel interviewed a number of great traders and attempted to capture the essence of each trader's approach to trading. The author does a good job of presenting the basics of trend following. Though much of what he says will come as no news to anyone who has read very widely in the literature of trading, his liberal quotations from other authors enliven what would otherwise be an uphill read. The author has a good eye for a snappy quote, and we believe that even if you buy this book only for the quotations, you will certainly get your money's worth. What you earn from following the trend masters' stock tips is entirely up to you. Comment Comment | Permalink | Was this review helpful to you? Yes No (Report this) Share your thoughts with other customers: Create your own review › See all 8 customer reviews...		Ad feedback   Most Recent Customer Reviews 1.0 out of 5 stars Worthless Very disappointing. Amazon suggests this as a likely book if you have been browsing "how to" trading books. Read more Published 5 days ago by Mr. Michael Buckner 2.0 out of 5 stars disappointed i was expecting ideas, methods, tactics and the like, but no. the book goes on and on and on trying to convince the reader that trend following is THE method, again and... Read more Published 19 days ago by Rafael Sacramento 2.0 out of 5 stars not a serious text If you are serious about creating a trend following method then don't buy this book. The text demonstrates that Covel is a salesman, not a trader. Read more Published 7 months ago by Michael G. Pokrass 3.0 out of 5 stars vague not really for beginners and gives general ideas with general discussion to traders very little detail of use to a beginner starting off trying to develop a strategy Published on 18 Sep 2006 by Mr maguire 4.0 out of 5 stars Essential addition to any trading library How do a small group of traders consistently make 20% plus returns on their multi millions portfolio each year, trading all markets (index,bonds,commodities). Read more Published on 13 Sep 2006 by D. DALBY Search Customer Reviews Only search this product's reviews › See all 8 customer reviews...

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