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on 28 October 2011
I bought this book because I thought it might contain some ideas around trend trading systems, how they work and how one might go about testing and developing them to fit one's own biases and perwonality. This book does not contain any such information. Instead it is a book about certain trend traders, which does not give much idea about their methods, but comes across as a sycophantic ramble about them. The book is a long advertisement/propaganda document about trend following, with the author putting down other methods and claiming that they do not work. For this, he is dangerous, there are plenty of trading methods out there each of which is capable of providing reasonable returns, with trend following being just one, you have to find them and use the one you are most comfortable with. Each chapter covers one trader or a group of traders who work together in a fund, giving you mostly unimportant details about their life stories but without techniques and in most cases without using their own words. If you want to learn about traders and what makes them tick, you should read it in their own words. For that I would recommend Jack Schwager's fantastic Market Wizard books. There are plenty of tips there and things that would improve you as a trader. Please do not waste your money here.
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on 29 December 2011
I've been a professional investor for a dozen years, and have read probably a hundred investment books in my life, and I honestly believe this book could be least useful of them all. It purports to be about trend following, but it's actually about the personalities and backgrounds of certain trend followers - there is absolutely nothing on the systems they employ to make money. It reads likes a self-help guide for traders, great if you like your investment advice in pithy fortune cookie type quotes (Stick to your Knitting! Study Hard and get an A+! Stand Up, Dust Yourself Off, and Keep Going!), but not so great if you actually want to make money. I've read quite a few of the Little Books series now, and they appear to have gone downhill from the beginning. They were always basic, but they were easy to read, and I was able to glean something useful from each. This book has very little redeeming value; it is repetitive, trite, and uninformative. Please don't waste your time or money.
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on 14 December 2015
I just cannot recommend this book. Like some of the other readers, I have a good collection of trading books (including some from the 'Little Book' series) and I am sorry to say that this is the least enlightening purchase of the lot I have made.
It contains what might be described as a series of case studies on leading trend-following gurus such as John Henry, but manages to avoid giving any insight into their system of methodology beyond mind-numbing generalities.

The underlying message of the book is, "Trend following is very good - try it". I accept the proposition entirely and it reflects my own investment and trading methodology. But there is no real insight granted in the description of the successful traders within the book. I regret to say that it reads more as a series of articles in a Sunday newspaper magazine than a trading book.

Read books by Stan Weinstein, Mark Minervini, even Alexander Elder if you want to get a handle on something more concrete about trend following. If you want to read about successful traders' mindsets, read Jack Schwager. If you want to learn about psychology, read "The Little Book of Behavioural Investing" by James Montier which though part of the same series is about x10 more useful than the present volume.

Fortunately, mine was purchased from a certain online auction site and will be back for sale there at a super cheap price if you still want to buy after reading this review.
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on 24 February 2013
This is the fourth of Covel's books that I have read, and it is probably my favourite, the chapter on David Harding provides excellent insight on what it takes to succeed at trading over a long period of time. If you are looking for the secret to making easy money, or a dummies guide for building a quick and easy trading system, then this book will not help you. That said if you are interested in learning how the masters of the markets have made their fortunes (and kept them) then this book is a great place to start. Each chapter covers a trendfollowing trader providing valuable insight about how they have made fortunes using trendfollowing techniques.

"If you want to be successful, find someone who has achieved the results you want and copy what they do and you'll achieve the same results." ~Tony Robbins

What surprises me the most about Covel's books is how some people get so upset at him for advocating purely systematic trendfollowing strategies. Personally I hope that this criticism continues and his writings never make it into the broader main stream (sorry Mike), because if everybody started trendfollowing then markets might actually become efficient (see page 11) and the possibility of absolute and excess returns may diminish. I would also highly recommend this book to anyone with a formal finance education. There are many things that you will learn at university; how to consistently make money in financial markets is not one of them.
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on 7 December 2014
This is my favourite book on trading, i have the audible version and i don't get tired of listening to the awesome inspiring stories of some of the best trend following traders in the world.
A must listen to for any trader.
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on 7 September 2011
I am a fan of Michael Covel's work on Trend Following so there was no doubt that I would read his new book, however I thought maybe it was a cliff notes version of his other books. I was pleased to see that it was much more than that. It not only built on the ideas he presents in his other works, but also provides new perspectives and thoughts on the subject. As a student of trading and trend following in particular, the most important aspect to learning is access to traders who have already reached success in the field. I know of few other authors who make the wisdom of such traders accessible. A great read and learning experience.
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on 22 August 2011
Any trader should know that they are forever a student of the market and this book is a great investment to make in yourself. The book is very accessible and you will probably not be able to put it down because Michael keeps churning out lots of profitable bits of information. The sort of insights that are found in this book are hard to come by so I appreciate that, in the same way Jack Schwager did, he takes the time to document it for us. The traders he interviews are in a league of their own.

A welcome addition to any traders armoury whether you are a trend follower or short term trader, the lessons remain invaluable.
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