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Trend Following How Great Traders Make Millions in Up or Down Markets
ISBN: 0131446037     Date Published: 2004-04-23     Author(s): Michael W. Covel
  Average Customer Rating:Stars Rating  

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Financial Times Prentice Hall
336 Pages
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06/20/2013 01:25:04
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Editorial Review - Book Description:
`Michael Covel`s Trend Following: Essential.`

--Ed Seykota, Trend Follower and Original Market Wizard

`Trend Following by Michael Covel? I`m long this book.`

--Bob Spear, Developer of Trading Recipes Software

`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 traders.`

--Jonathan Hoenig, Portfolio Manager, Capitalistpig Hedge Fund LLC, Fox News Contributor

`Michael Covel has written the definitive book on Trend Following. With careful research and clear insight he has captured the essence of the most successful of all trading strategies. Michael knows his subject matter and he writes about it with passion, conviction and enthusiasm. This enjoyable and well written book is destined to become a classic.`

--Charles LeBeau, author of Technical Traders Guide to Computer Analysis of the Futures Markets

`Trend Following is an engrossing and educational journey through the principles, pitfalls, players and psychology of aggressive technical trading of the investment markets. Rich in its wisdom and historical study.`

--Gerald Appel, President of Signalert Corporation and Publisher of Systems and Forecasts Newsletter

`Conventional wisdom says buy low and sell high, but what do you do now that your favorite market--be it a stock, bond, or commodity--is at an all-time high or low? For a completely different perspective, from people who actually make money at this business, take a look inside. Michael Covel has written a timely and entertaining account of Trend Following--how it works, how to do it, and who can do it. While it`s not for everybody, it might be for you.`

--Charles Faulkner, NLP Modeler and Trading Coach, featured in numerous books including The New Market Wizards

For 30 years, one trading strategy has consistently delivered extraordinary profits in bull and bear markets alike: Trend Following.

Just ask the billionaire traders who rely on it.

In this book, you`ll meet them . . . and you`ll discover how to use Trend Following in your own portfolio. Even if you`re not a billionaire. Yet.

Michael Covel rigorously analyzes historic performance data proving that Trend Following trading works. He goes right to the source for insight from some of the best trend followers ever. How to limit risk, employ discipline, and swing for the home run are all part of Trend Following. Covel also debunks commonly accepted Wall Street Holy Grails such as buy and hold and the use of fundamentals for trading decisions.

The proof is in the results--Hard performance data over decades from professional money managers All the information you need . . . in one number--Why a stock`s price tells you all you need to know to trade Pinpointing targets of opportunity--What to trade, when to trade it, and how much to trade How it`s done: classic case studies--Who profited from the global scandals of the last 15 years . . . and how they did it Meet the Trend Followers--Extraordinary trader profiles, including Bill Dunn, John W. Henry, and Ed Seykota The First Book on Trend Following How did John W. Henry become rich enough to buy the Boston Red Sox? How do traders like Ed Seykota, Bill Dunn, Jerry Parker, and Keith Campbell consistently generate immense profits in both bull and bear markets?

The answer is Trend Following: the only long-term trading strategy proven to consistently make money. Now, one of the field`s leading experts pulls back the curtain on Trend Following, showing you exactly how and why from A to Z. Michael Covel demonstrates why market prices contain all the information you need to make buy and sell decisions.

Trend Following works. The proof? The billionaires who live by it.
Customer Review:
Total Reviews: (107)
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289 of 306 People found the following review helpful.

Hard Cold Reality Makes A Stimulating Read, June 21, 2004 By A Customer This review is from: Trend Following: How Great Traders Make Millions in Up or Down Markets (Financial Times Prentice Hall Books) (Hardcover) What's great about this book is that it goes straight for jugular of anyone who can't stop themselves from making predictions about the markets. Like those chart reading traders who think they can actually forecast the market direction. Prediction with charts is a losing game. If 100 traders stare at a chart, they come up with 100 different subjective interpretations. This book may actually make them realize that pretending they have unique skill through years of ink blot study is just blowing smoke.Better yet this book is not based off hypothetical testing or experiments in what may work. It uses real performance data from guys who have traded for decades as trend followers. If you worship technical indicators as "it" don't read this book unless you want a hard cold splash of reality. If you worship technical indicators as some market tonic -- go ahead -- but don't forget the best in the business do nothing of the sort.One of my favorite parts is the description of...
306 of 325 People found the following review helpful.

Tired of the games?, June 30, 2004 By A Customer This review is from: Trend Following: How Great Traders Make Millions in Up or Down Markets (Financial Times Prentice Hall Books) (Hardcover) Why should you read this book? Is the book worth the time and effort? The book layed the foundation for my trading career. Brick by brick and chapter by chapter the author supported why trading as a trend follower is so important. Examples of the successes of current trend followers are peppered through the book. Does the author give you the secrets to trading? No. Are there any secrets to trading? No. Buy if the price is going up and sell short if the price is going down. Is it that simple? Yes. The author goes out of his way to show example upon example of successful trend traders. These traders are not Wall Street names. They do however, beat the S&P on average year after year, and do so very quietly.What does it take to be successful? How can I be successful? Simple, find someone who has what you want and then model their behavior. Find a mentor. If you want to make money in the markets then model the behaviour of those who are successful. Granted most...
242 of 256 People found the following review helpful.

A Must Read For Anyone Who Has Lost $$ In The Market, May 7, 2004 By"baroquebespoke" (Chicago) - 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) I heard about this book from a buddy of mine who trades using a mechanical system similar to trend following. Now I know why he recommended it. The book is a must read for investors and traders alike. Had I read this book three years ago I would have known why my investments were getting slammed by the bear. The author knows his subject inside-out and breaks it down in so many ways, I can't help but be embarrassed by my once magical belief in my broker's insight. I particularly recommend the chapter on behavioral finance that speaks to everyone who has had gut wrenching losing spells.
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