Trend Following: Learn to Make Millions in Up or Down Markets

Trend Following: Learn to Make Millions in Up or Down Markets

Paperback

By (author) Michael W. Covel

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  • Publisher: FINANCIAL TIMES PRENTICE HALL
  • Format: Paperback | 464 pages
  • Dimensions: 175mm x 234mm x 30mm | 862g
  • Publication date: 1 March 2009
  • Publication City/Country: Upper Saddle River
  • ISBN 10: 013702018X
  • ISBN 13: 9780137020188
  • Edition: 1
  • Edition statement: Updated ed
  • Sales rank: 43,366

Product description

Discover the investment strategy that works in any market. The one strategy that works in up and down markets, good times and bad. *'Trend Following' has become the classic trading book - accepted by the great pro traders as their standard. Learn how Trend Followers delivered fantastic returns while everyone else was losing their shirts.* Simple charts and instructions help you use Trend Following no matter where the market goes next. * Includes new profiles of top Trend Followers who've kept right on profiting through the toughest markets.

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Author information

Michael Covel is the author of five books: including the international bestseller, Trend Following and his investigative narrative, The Complete TurtleTrader. Fascinated by traders that quietly generate spectacular returns, those going against the grain of investment orthodoxy, he has uncovered astonishing insights about how they think, strategize and execute their systems. His cutting-edge and unorthodox perspectives have garnered international acclaim and have earned him invitations with: China Asset Management Co., Ltd., GIC Private Limited (Singapore sovereign wealth fund), BM&F Bovespa, Managed Funds Association, Bank of China Investment Management, Market Technicians Association. He also has the distinction of interviewing four Nobel Prize winners in economics, including Daniel Kahneman and Harry Markowitz and has been featured by major press, including: The Wall Street Journal, Bloomberg, CCTV, The Straits Times and Fox Business. Covel's Trend Following Podcast now has over 2.5M listens (trendfollowing.com/podcast) and has ranked as high as #2 on iTunes. He splits his time across USA and Asia and sees location independence as our future.

Review quote

"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." Marc Faber 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 Trend Following." 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." Christian Baha Superfund "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 TradingMarkets.com "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 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." Tom Basso Originally profiled in The New Market Wizards

Back cover copy

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"

Table of contents

Foreword by Larry Hite xiii Preface xvii Part I 1 Trend Following 3 2 Great Trend Followers 27 Part II 3 Performance Data 97 4 Big Events, Crashes, and Panics 123 5 Baseball: Thinking Outside the Batter's Box 181 Part III 6 Human Behavior 193 7 Decision Making 211 8 Science of Trading 221 9 Holy Grails 231 Part IV 10 Trading Systems 247 11 The Game 277 Afterword 285 Foreword to the First Edition by Charles Faulkner 299 Appendices Introduction to Appendices 305 A Trend Following for Stocks 307 B Performance Guide 347 C Short-Term Trading 375 D Personality Traits of Successful Traders 377 E Trend Following Models 381 F Trading System Example from Mechanica 385 G Critical Questions for Trading Systems 395 Resources 397 Endnotes 399 Bibliography 423 Index 431