Trend Commandments: Trading for Exceptional Returns

( 5 )

Overview

“An outstanding book for anyone who wants to become rich by trading markets. Highly recommended!”

--Marc Faber, Managing Director, Marc Faber Ltd., and Editor, “Gloom Boom & Doom Report”

“If you are even thinking of a career in trading, put down all the other books. Buy this one. Read it. Now you can start your career.”

--James Altucher, Managing Director, Formula Capital

“A rapidly moving, non-technical, ...

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Overview

“An outstanding book for anyone who wants to become rich by trading markets. Highly recommended!”

--Marc Faber, Managing Director, Marc Faber Ltd., and Editor, “Gloom Boom & Doom Report”

“If you are even thinking of a career in trading, put down all the other books. Buy this one. Read it. Now you can start your career.”

--James Altucher, Managing Director, Formula Capital

“A rapidly moving, non-technical, and outside-the-box effort that smartly captures the essentials of trend following.”

--Peter Borish, Chairman and CEO, Computer Trading Corp

“Covel offers a breezy rumination on what is right about trend following and what is wrong about conventional trading approaches.”

--Jack Schwager, Author of Market Wizards and Schwager on Futures series

Trend Commandments is definitely one to add to your financial bookshelf.”

--David Stendahl, Signal Financial Group

“I’m certain you’ll be a successful trader if you follow the ideas Covel outlines in Trend Commandments.”

--Steve Sjuggerud, DailyWealth

Trend Commandments is essential reading for those who have the desire to thrive and survive in an era of fast-paced trending markets.”

--Jim Puplava, CEO, Chief Investment Strategist, PFS Group

“Covel challenges readers to...question their beliefs about market ‘truths’ ingrained in them for years. Forewarned, you just may never see the world the same way again.”

--Mebane Faber, Cambria Investment Management

“Wide-ranging, irreverent, revealing, eminently quotable, and right on the money.”

--Charles Faulkner, Market Wizard Trading Coach

In the bestsellers Trend Following and The Complete TurtleTrader, Michael W. Covel introduced trend following trading with painstaking detail and real-life stories. This new book offers a 360-degree vision designed to teach, compare, contrast, inspire, and push you to trend trading success.

Up? Down? It doesn’t matter. There are always trends, and that means there are always profits. Many of the world’s top traders are trend followers: That’s key to a fortune. You can do it, too--and now you have the rare perspective it takes to be a trend following winner.

One bite-size concept and illustration at a time, Covel shows how you can get ahead in an age of nonstop financial crisis and deepening instability. Winning means the right techniques, psychology, philosophy, and even skepticism--it’s all part of the learning, then earning process.

Trend Commandments delivers real moneymaking insights developed and cultivated from 15 years of behind-the-scenes research--intellectual access you can’t fake. It’s the most digestible and one-of-a-kind trend trading book ever written.

  • Reap the spoils when domestic and global markets crash...
    ...
    and find big waves to ride even when people aren’t panicking
  • Don’t waste time trying to predict the future...
    ...
    learn how to think and react to what is actually happening
  • Decipher the ‘noise’ in a sea of competing voices...
    ...
    let go of ‘value,’ mutual funds, the Buffett legend, and Goldline (to name a few)
  • Listen to the market. It always tells the truth...
    ...
    and the “price” is the only true trading reality you can trust
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Editorial Reviews

Kirkus Reviews

A disciple of trend following lays down a few laws—many esoteric—for investing successfully in any market.

By investing using an established trend-following system, we leave all prognostications at the door and make buy-and-sell, long-and-short decisions on price and price alone. Entrepreneur Covel (Trend Following: Learn to Make Millions in Up or Down Markets, 2009, etc.) writes that the secret—around for 200 years or more in one form or another—is to ride profits and cut losses. Based on the simple expectation that when trends hold sway, rising prices tend to continue upward and falling prices tend to continue down, market history suggests these trends persist at least for a time. There will be rude surprises, such as financial meltdowns like 2008 and Black Swan events that mean losses. But on the whole, steady profits or, as the author promises, exceptional returns will accrue to investors in any market who stick with the system. Trend followers won't be the first in or last out, but if all goes according to plan, they will have a computer-driven numbers matrix that reliably spots price trends up or down and allows for profit making. Readers will have to refer to other Covel books or his TurtleTrader website for details. Here, the intent is to persuade, if not cajole. Pages are packed with sometimes cloying and contradictory inspirational sidebars. Moses would have needed a lot more tablets for all the author's commandments.

Rhetorical overkill, but at its core worth considering.

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Product Details

  • ISBN-13: 9780132695244
  • Publisher: FT Press
  • Publication date: 6/28/2011
  • Edition number: 1
  • Pages: 288
  • Sales rank: 346,281
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.10 (d)

Meet the Author

Michael W. Covel serves as President of Trend Following (TurtleTrader), a privately owned research firm. In 1996, Covel colaunched TurtleTrader.com. It has attracted millions of visitors.

His first book is Trend Following: How Great Traders Make Millions in Up or Down Markets (FT Press, Apr. 04, Nov. 05, Feb. 07, and Feb. 09). This must-have classic has been translated in German, Japanese, Chinese (Traditional and Simplified), Korean, French, Arabic, Turkish, Portuguese, and Russian.

His second book, The Complete TurtleTrader: The Legend, the Lessons, the Results (Collins, Oct. 07 and Feb. 09), is the only narrative account of trader Richard Dennis and his student traders, the Turtles. It has become the definitive book on the subject and has been translated in German, Japanese, Chinese (Traditional and Simplified), Korean, and Russian.

His first documentary film is Broke: The New American Dream. It explores human behavior and trend following during the 2007-2009 market crash and premiered on The Documentary Channel fall 2009. The film was shot in 13 major cities on three continents. Top traders Larry Hite, Jim Rogers, David Harding, Mark Mobius, and Bill Miller appear. Nobel Prize winners Harry Markowitz and Vernon Smith also appear.

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Table of Contents

Acknowledgments 1

Ignition 3

Expectations 9

Jargon 11

Show Me the Money 15

Blowing Bubbles 25

Speculari 29

Fundamentals Are Religion 33

Everything Flows 39

Systematic Trend Following 41

Change 45

No Prediction 47

Price Action 51

Place Your Bet 55

Trading Systems 59

Trade Everything 65

Drawdown 69

Entry 73

This Way to the Egress 75

Losers Average Losers 79

Home Run 81

Robust 85

Push the Button 87

Wash, Rinse, Repeat 91

Zero-Sum 95

Crash and Burn 97

Inefficient Markets 101

Benchmark 105

Haters 109

The Root of All Evil 113

Panicky Sheep 117

IQ vs. EQ 123

Commitment 127

Decide Now 131

Science 135

Statistical Thinking 137

Aha! 143

Hero Worship 147

Buy and Hope 151

Convert 155

Oracle of Omaha 157

A Seinfeld Moment 161

Snow Job 165

Twit Me a River 169

Goldline 173

Intoxication 175

Parliament of Whores 181

Crowded House 185

Black Box 187

Lucky Monkey 189

Honest 193

Under the Radar 199

Ethos 201

Games People Play 205

Blood Hound 207

Epilogue 211

Extras 213

Surprise, Surprise, Surprise 215

Origins 221

Cheat Sheet 235

Quick Commandments 239

Bibliography 242

Endnotes 246

About Trend Following & Michael Covel 265

Index 267

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Customer Reviews

Average Rating 5
( 5 )
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Sort by: Showing all of 5 Customer Reviews
  • Posted July 15, 2011

    more from this reviewer

    Covel Hits the Nail on the Head

    Anyone who has read anyof Michael W. Covel's books knows from the outset that this newest book TREND COMMANDMENTS is going to be not only a learning experience but a very supportive tome of advice and reassurance about a subjct few of us understand. Having read 'The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires' this reader jumped at the chance to see what else Covel has up his sleeve.

    Trend Trading may seem like yet another of those big money terms that leaves the bulk of us on the outside. But as presented by Covel it is understandable as a concept and accessible as a means of approaching the money market. By definition, 'Trend following is an investment strategy that tries to take advantage of long-term moves that seem to play out in various markets. The strategy aims to work on the market trend mechanism and take benefit from both sides of the market, enjoying the profits from the ups and downs of the stock or futures markets. Traders who use this approach can use current market price calculation, moving averages and channel breakouts to determine the general direction of the market and to generate trade signals. Traders who employ a trend following strategy do not aim to forecast or predict specific price levels; they simply jump on the trend and ride it.'

    And that is exactly what Covel encourages in this well-written book. He offers insights into the strategies that the big moneymakers use to be true winners 'grounded in real performance results and not squishy opinions.' In these chaotic eonomic times it is comforting to read a book by an informed man who tells it like it is and follows those realities with his own brand of optimism and self-sufficiency. the book reads well, does not bog down with data charts that are page flippers for novices, but steadily stands behind our insecurities and creates positive transformations.

    Grady Harp

    3 out of 3 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted January 8, 2013

    Fernash

    Wait.......thats not the real velvetstar! I can tell..............

    0 out of 1 people found this review helpful.

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  • Anonymous

    Posted January 7, 2013

    Seeker

    Cheater!! Why wud u cheat on ur mate?!!!?!

    0 out of 1 people found this review helpful.

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  • Anonymous

    Posted January 7, 2013

    Velvtstr

    Moans

    0 out of 1 people found this review helpful.

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  • Anonymous

    Posted November 17, 2011

    No text was provided for this review.

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