Trend Following: Learn to Make Millions in Up or Down Markets
$15.26
| Author(s) | |
|---|---|
| Pages |
335 |
| Format |
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| Publication Year |
2004 |
Trend Following: How Great Traders Make Millions in Up or Down Markets by Michael W. Covel is a definitive exploration of one of the most successful trading strategies ever developed. Covel, a leading authority on trend-following systems, reveals how traders can achieve consistent, long-term profitability by following price trends rather than relying on predictions or market forecasts.
The book dismantles the illusion that successful trading depends on forecasting economic indicators or insider knowledge. Instead, it shows how disciplined traders harness market momentum, cutting losses quickly and letting profits run. Through detailed case studies, Covel demonstrates how legendary trend followers have consistently outperformed markets across decades, regardless of whether conditions were bullish or bearish.
Central to the book is the philosophy that price itself contains all the information a trader needs. Covel outlines how to construct and follow systematic trading rules that eliminate emotional decision-making and provide a framework for acting decisively under uncertainty. He presents practical methods for risk management, position sizing, and diversification, ensuring that traders can weather volatility without deviating from their system.
Beyond the mechanics, Trend Following explores the psychology of successful traders. Covel highlights how fear, greed, and impatience derail most market participants, while trend followers thrive by maintaining discipline and detachment. He contrasts this approach with traditional Wall Street methods, exposing why many investors fail to achieve consistent results.
What makes this work compelling is its mix of history, theory, and practical application. Covel traces the evolution of trend following, from its early pioneers to modern hedge fund managers who manage billions using these principles. He combines this with actionable lessons that readers can adapt to their own trading styles, regardless of account size or market focus.
Trend Following is not a book of quick fixes or secret formulas; it is a roadmap to building lasting success through discipline and systematic thinking. For traders seeking independence from market noise and confidence in their approach, Covel’s work remains a timeless classic that proves the enduring power of trend following.
Contents:
- Trend Following
- Great Trend Followers
- Performance Data
- Big Events in Trend Following
- Baseball: Thinking Outside the Batter’s Box
- Human Behavior
- Decision-Making
- Science of Trading
- Holy Grails
- Trading Systems
Trend Following: How Great Traders Make Millions in Up Or Down Markets By Michael W. Covel PDF
24 reviews for Trend Following: Learn to Make Millions in Up or Down Markets
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Efrain Mccarty (verified owner) –
I could have saved countless hours researching trend following by just reading this book first. It gives you all the foundational knowledge needed to begin building your own system and get in the right trend following headspace. Beyond Covel’s own articulate and easy to digest composition, the book points you in all the right directions for further inquiry into the world of trend following if you pay attention to the referenced materials and figures of the space Covel draws on.
Joni Cook (verified owner) –
Read this book in a weekend. It opened my eyes to a different type of trading trend following.
Vicente Mcintosh (verified owner) –
A contrarian perspective that makes so much sense, you’ll find yourself seriously questioning the “experts” in not only investing, but in everything.
Jean Gibbs (verified owner) –
Michael Covel offers a fresh and counter-intuitive perspective at the market.
Some of these principles are:
1. Don’t pick the top or bottom.
2. Go with the trend, not predicting the trend
3. Go in small and then bet bigger as you validate the trend
4. Set a hard stop loss every time.
Maryanne Hancock (verified owner) –
I’ve been around Covel since the 90s – but he doesn’t know me from Adam. He’s really good making a case for trend following. He’s a natural salesperson and story teller. But this is not a “how to” book. Not even close and if you are buying it thinking it has access to coding and the thought process behind it – you’ll be disappointed. Like I said – Covel is a great story teller and salesperson but he is no mentor for trend followers. Interesting stories that will motivate you to learn about trend following. But go elsewhere if you want to know the mechanics and risk controls behind it.
Louis Morgan (verified owner) –
Michael Covel and this book introduced me to trend following as a mindset. If you are looking for easy, look else ware. But if you are looking for something that will impact your life and challenge your beliefs and trading dogma, look not further. In investing and in life in general you create the rules and this book will show you the trend following mindset. This book is a stepping stone and Michael Covel is your guide to getting an edge that you can exploit in life and in trading. The journey is not easy. The book is massive. The information is not spoon fed. Sometimes a little disorganized and wordy and sometimes incomplete the book takes time to understand, study and execute. If you choose, the path beyond average is there for you to follow.
Harlan Hutchinson (verified owner) –
Love this book. Although you may not get a turnkey trading system from the book (go to his website for a trading system) this book is essential for any trend follower. I highly recommend this book to anyone interested in trend following. I am a verified purchaser
Colby Mueller (verified owner) –
Great book! A must have!
Waylon Glenn (verified owner) –
The things that i love the most about this book is this doesn’t tell you exactly what to do. it makes you understand the reason for every action you take, and because there is no such things like: “you should do this, you should do that,” so you can really become the unique you, you can understand a lot more about yourself, and that’s the most important thing as a trader. but this is not for anyone who are lazy who want to find the exact formular to trade, so if you want that, find another book.
Edgar Tapia (verified owner) –
Got this book a bit ago, have not had time to finish but always listening to Mikes podcast at work and gonna love the audible version so I can listen to this book now also. Mike is also always very quick to respond and discuss topics. Thanks for your great work!
Clare Patrick (verified owner) –
Plenty to read! But good for your brain. Hahaha
Claudia Henson (verified owner) –
The book is very interesting and complete as it talks about what trend following is and how the CTA industry works – as opposed to other types of investments.
It’s inspiring but it doesn’t teach you how to be a trend follower yourself. Althought it mentions a very simple trend following strategy, it doesn’t give you details on how much capital would you need to start and it doesn’t go deep on Money Management either.
It became clear to me that trend following works, but I didn’t really learn the details on how to use it by trading it myself.
Eugenio Martinez (verified owner) –
If you are looking for trend following strategies explained then this is not the book for you. The content is about 20% lists of quotes and I found my first piece of actionable content at 79% of the way through the book. If you know nothing about trend following then first 100 pages maybe enlightening but after that I’d look elsewhere
Delmer Dalton (verified owner) –
Yep that is a big wow. Greatest amount of information gathered in one place. Brilliantly researched and presented. Trend following is so interesting to me now.
Myrna Clay (verified owner) –
Michael Covel delivers a no “non-sense”, in-depth study of the markets, and what it takes to be succesful at trading. The history and data presented are excellent sources of inspiration for anyone aspiring to become a succesful trader.
Morris James (verified owner) –
I loved this book and will highly recommend it to younger colleagues
Luis Atkins (verified owner) –
Ten chapters in what a waste of money I would not recommend this book if you want to learn about trend following stock techniques. This book has more filler than a youtube influencer.
Latasha Matthews (verified owner) –
I first read Turtle Traders and was convinced I could learn how to trade effectively too. Michael made hunger for more. I bought Trend Following and that opened up a whole new world. I read it, I reread it, I’ve highlighted lots of pages, and recommended it to many of my friends. You can’t deny the facts. And he gives you a lot of facts.
Amanda Farrell (verified owner) –
This book has no real trading application chapters. All just a lot of stories about other people who opened a fund and invested their money but doesn’t say anything about how they traded. For me, this was a waste.
Jeffry Cordova (verified owner) –
A must read for traders
Loraine Chase (verified owner) –
It was a great book from a great author/podcaster. I really enjoy listening to Michael Covel.
Ollie Duffy (verified owner) –
Great book on trend following
Adan Kidd (verified owner) –
It’s not a How-To book but What-it -is and marketing book.
Jerrod Fields (verified owner) –
My praise of it is beyond words. Highly recommended!