Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets, [NOOK Book]

Overview

“Michael Covel’s Trend Following: Essential.”

--Ed Seykota, trend follower for 35 years and original Market Wizard

“A mandatory reference for anyone serious about alternative investments.”

--Jon Sundt, president and CEO, Altergris

“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, founder and owner, Superfund

“Covel has created a ...

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Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets,

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Overview

“Michael Covel’s Trend Following: Essential.”

--Ed Seykota, trend follower for 35 years and original Market Wizard

“A mandatory reference for anyone serious about alternative investments.”

--Jon Sundt, president and CEO, Altergris

“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, founder and owner, Superfund

“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. This is one book that traders at all levels will find of real value.”

--John Mauldin, Thoughts from the Frontline

The Investment Strategy That Keeps on Making Money While Everyone Else Is Losing It:
How Trend Followers Made a Fortune During the 2008 Stock Market Crash

Did your buy and hold investments survive the crash of 2008? While many were getting hammered, trend followers were earning profits ranging all the way up to +40% for the month of October 2008 alone!

Now, the #1 guide to trend following has been thoroughly updated to reflect 2008’s cataclysmic events. Michael W. Covel reveals exactly how the trend followers achieved those amazing results. Using simple, up-to-the-minute charts from top traders, he doesn’t just prove this strategy works: He shows why only a technical system based on following price trends can win over the long term.

Best of all, he shows you exactly how to apply the same strategies in your own portfolio--so you, too, can keep on profiting no matter what happens next!

For more than 30 years, trend following has been the one trading strategy that’s consistently delivered extraordinary profits in bull and bear markets. While most investors were losing a fortune in the 2008 stock market collapse, stuck in buy and hold investments, trend followers were earning huge profits...up to a whopping +40% in the single month of October 2008! The proof’s in this book: brand-new data you can view for yourself, plus all the information you need to know to utilize the same timeless strategies in your portfolio.

In this fully updated edition, trend following expert Michael Covel introduces the traders and fund managers who’ve been using this strategy for decades, adding brand-new profiles such as David Harding, who manages $10 billion plus dollars through his London-based trend following firm. Then, Covel walks you through all the concepts and techniques you need to use trend following yourself. One step at a time, one simple chart at a time, you’ll learn how to understand price movements well enough to profit from them consistently--in any market.

Today, you need trend following more than ever. Read this book, and put it to work for you!

  • Real proof, real data, real results
    Includes over a decade of detailed performance charts, updated to include the Fall 2008 market crash
  • 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
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Product Details

  • ISBN-13: 9780135094402
  • Publisher: Pearson Education
  • Publication date: 3/1/2009
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 464
  • Sales rank: 630,828
  • File size: 7 MB

Meet the Author

Michael Covel is a highly respected author, director, and entrepreneur who founded the internationally known website TurtleTrader.com in 1996. Covel’s first book was the best selling Trend Following: How Great Traders Make Millions in Up or Down Markets (FT Press April 2004 and November 2005 Expanded Edition). The book profiles great trend following traders who have won millions, if not billions, in the market. The original edition, expanded edition, and paperback edition have sold 100,000 plus copies. It is also available in German, Japanese, Chinese (complex and simplified), Korean, French, Arabic, Turkish, and Russian.

Covel’s second book The Complete TurtleTrader: The Legend, the Lessons, the Results (Collins, October 2007) is the definitive inside look at the legendary trader Richard Dennis and his student traders, ‘The Turtles.’ The book has received wide acclaim and is headed toward bestseller status. It is also available in German, Korean, and Chinese (complex and simplified).

Building off his book success, Covel wrote, directed, and produced a theatrical release documentary titled Broke: The New American Dream, built around the subject of behavioral finance, specifically investigating the 2007–2008 market crisis and crash. Face-to-face interviews with Nobel Prize winners Dr. Harry Markowitz and Dr. Vernon Smith, famed mutual fund investor Bill Miller of Legg Mason, David Harding of hedge fund Winton Capital, plus dozens of other Wall Street pros, along with average investors were conducted over 2007 and 2008. The film was shot in New York, DC, Miami, Dallas, San Diego, Baltimore, Las Vegas, Richmond, London, Tokyo, Singapore, Macau, and on a sheep farm outside of Harrisonburg, Virginia.

Not afraid of a crowd or controversy, Covel is known for engaging and provocative speeches presented to audiences from Tokyo to Paris to Macau (China) to Vienna (Austria) to Hong Kong to Dallas (US). His writings have appeared in Trader Monthly Magazine, Stocks, Futures and Options Magazine, Futures Magazine, Technical Analysis of Stocks and Commodities Magazine, TradingMarkets.com, Yahoo Finance, Market Technicians Association Newsletter, and Futures Japan Magazine. Covel has been quoted and interviewed by likes of Bloomberg Radio, Technical Analysis Magazine, Barrons, and dozens of radio

programs.

Covel can be reached directly at www.michaelcovel.com.

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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

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