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Trend Following: How Great Traders Make Millions in Up or Down Markets | |||
Trend Following: How Great Traders Make Millions in Up or Down Markets |
THE INVESTMENT STRATEGY THAT WORKS IN ALL MARKETS...WITH PROOF TO BACK UP THE PROMISES
Reveals the trading strategy that made John W. Henry rich enough to buy the Boston Red Sox.Contains 50+ pages of easy-to-understand charts, actual results from top Trend Followers.Shows how to apply trend following in your portfolio–one step at a time, in plain English.“Trend Following 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’s Trend Following: Essential.”
—Ed Seykota, Trend Follower for 35 years and Original Market Wizard
“Investment books that have a lasting appeal offer insight that resonates with a large number of investors. We believe Michael Covel’s Trend Following will be such a book.”
—Richard E. Cripps, Legg Mason Chief Market Strategist
“A mandatory reference for anyone serious about alternative investments.”
—Jon Sundt, President and CEO of Altegris
“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, CEO, Superfund
“Please read [Trend Following] whether you think you have an interest in trend following or are not quite sure…Covel has hit a home run with it.”
—Gail Osten, Editor-in-Chief, Stocks, Futures & OptionsMagazine
“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, author of Bull’s Eye Investing
For more than 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...traders like John W. Henry, whose trading profits bought the Boston Red Sox!
In Trend Following, New Expanded Edition, you’ll meet them...and discover exactly how to use trend following in your own portfolio. This expanded edition includes more than 50 pages of easy-to-understand performance charts. It is the book multi-billion-dollar hedge funds have
made mandatory reading for their staffs.
Michael Covel goes right to the source, presenting powerful insights straight from the world’s top trend followers, and debunking Wall Street myths and misinformation from well-known pros who ought to know better. You’ll learn how to manage risk, employ market discipline, and, when the moment is right, swing for the home run.
Real proof, real data, real resultsMICHAEL W. COVEL is the founder and President of Trend Following™. A researcher of the most successful trend following investment managers, he has been in the alternative
investments industry consulting on trend following to individual traders, hedge funds, and banks for ten years.
From his writing to public speaking, Covel pulls no punches. Passionately educating his clients in order to find that “edge” has made Covel a widely respected expert in the field. He writes for numerous industry publications and is continually quoted and interviewed by Barron’s, Bloomberg, and RobTV, to name but a few. An experienced and successful entrepreneur, he is a frequent guest on national TV and radio shows and regularly gives presentations at international hedge fund conferences from Hong Kong to Tokyo, advising listeners on proper trading, decision-making, risk management, and trend following. Covel is also Managing Editor at TurtleTrader.com, the leading trend following news and commentary resource since 1996.
Living and working in Virginia, he is a lifelong baseball fan.
Contents
Foreword by Charles Faulkner
Foreword by Larry Hite
Preface
Acknowledgments
1 Trend Following
2 Great Trend Followers
3 Performance Data
4 Big Events in Trend Following
5 Baseball: Thinking Outside the Batter’s Box
6 Human Behavior
7 Decision-Making
8 Science of Trading
9 Holy Grails
10 Trading Systems
11 ConclusionAfterword
Introduction to Appendices
A Fidelity Wealth-Lab Pro
B Performance Guide
C Short-Term Trading
D Personality Traits of Successful Traders
E Trend Following Models
F Trading System Example from Trading Recipes
G Modern Portfolio Theory and Managed Futures
H Critical Questions for Trading Systems
Resources
Endnotes
Bibliography
About the Author
Index
MICHAEL W. COVEL
is the founder and President of Trend Following™. A researcher of the most successful trend following investment managers, he has been in the alternative investments industry consulting on trend following to individual traders, hedge funds, and banks for ten years.
From his writing to public speaking, Covel pulls no punches. Passionately educating his clients in order to find that “edge” has made Covel a widely respected expert in the field. He writes for numerous industry publications and is continually quoted and interviewed by Barron’s, Bloomberg, and RobTV, to name but a few. An experienced and successful entrepreneur, he is a frequent guest on national TV and radio shows and regularly gives presentations at international hedge fund conferences from Hong Kong to Tokyo, advising listeners on proper trading, decision-making, risk management, and trend following. Covel is also Managing Editor at TurtleTrader.com, the leading trend following news and commentary resource since 1996.
Living and working in Virginia, he is a lifelong baseball fan.
A recent interview with Michael Covel on Bloomberg Radio (6.5 MB MP3 audio file) about trend following.
"Please read [Trend Following] whether you think you have an interest in trend following or are not quite sure. I guarantee you will be happy that you took the time. It, of course, covers how trend following works, how it's done, and who can do it, and it doesn't beat around the bush with generalities. Again, get this book. Covel has hit a homerun with it."
Gail Osten, Editor-in-Chief
Stocks, Futures & Options Magazine
Official Journal for Personal Investing in Stocks, Futures and Options
"A mandatory reference for anyone serious about alternative investments."
Jon Sundt, President and CEO of Altegris
"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, CEO, Superfund
"A most interesting book -- definitely a 'must have' on your shelf. Pull out the plastic and get it!...Trend Following is well constructed, well written and an excellent distillation of the research undertaken by the author. Backed up by trading 'legends' like Ed Seykota, it convincingly argues that the most successful trading systems are based on trend following...While you may read the book in bed, especially the first time, it is best read at a desk with a notepad handy. While seeming to come from the perspective of technical analysis it is still a very good book on trading psychology...The book is both a great read and an insightful textbook for all traders and investors."
Garnett Znidaric
Your Trading Edge Magazine/strong>
Australia
"Michael Covel's Trend Following: Essential."
Ed Seykota
Trend Follower for 35 years, Incline Village, NV
The Trading Tribe
Ed was originally profiled in The Market Wizards by Jack Schwager
"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
CEO, TradingMarkets.com
"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. It touches on a wide variety of the principles and practices which make for successful trend following. This is one book that traders at all levels will find of real value."
John Mauldin
Millennium Wave Investments, Arlington, TX
Author of Bull's Eye Investing and editor of Thoughts from the Frontline
"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
President, International Institute of Trading Mastery, Inc.
Van was originally profiled in The Market Wizards by Jack Schwager.