Our Prerequisites
All courses involve specific prerequisite readings, basic skills and research requirements. Be prepared to study and ask questions whether you are a new or an advanced trader. There is plenty of information in a textbook, but we add crucial value by answering your questions. The basics below can be followed concurrently with training:
- Michael Covel Book 1: "The Little Book of Trading"
- Michael Covel Book 2: "Trend Commandments"
- Michael Covel Book 3: "The Complete TurtleTrader"
- Michael Covel Book 4: "Trend Following"
- Contract Reference Guide (PDF)
- Decision-Making (PDF)
- Mini-Contracts Introduction (PDF)
- Futures Basics (PDF)
- Math Basics (PDF)
Philosophically, Michael Covel's economic views are stately on Mises.org ("Michael Moore Kills Capitalism with Kool-Aid"), but the essence of a trend following foundation is found in this Milton Friedman interview:
If you can think like Friedman you are on the road to being able to accept the winning trend following mindset. Want more? Trend follower Bill Dunn and Turtle teacher Richard Dennis are both on the Board of the Reason Foundation.
Trend Following and Managed Futures Papers; Other Resources
- Origins of Trend Following (PDF)
- Michael Covel Feature (PDF)
- Trend Following on Stocks (PDF)
- Graham Capital: Trend Following Risk & Return (PDF)
- David Hsieh & William Fung: Theory and Evidence (PDF)
- A Tail of Two Worlds: Fat Tails and Investing (PDF)
- Too Big to Fail?: Long-Term Capital Management (PDF)
- Bet Sizing Article by Ed Seykota and David Druz (PDF)
- Reasons to Consider Adding Managed Futures (Trend Following) to Your Portfolio (PDF)
- The Benefits of Managed Futures (Trend Following) 25 Years Later (PDF)
- Portfolio Diversification Opportunities (PDF)
- Gibbons Burke Article on Money Management (PDF)
- Frequency v. Magnitude White Paper (PDF)
- Edward O. Thorp: Beat the Dealer (PDF)
- Kelly's Original paper, March 21, 1956 (PDF)
- Michael Covel's Favorite Books
Additionally, the following links outline the losers in the big market events of the last 20 years. Who won? The great zero-sum (PDF) events profiled in Michael Covel's 'Trend Following' are where trend followers won big:
- Michael Covel's "Broke: The New American Dream"
- PBS Special: Trillion Dollar Bet (Buy from Amazon; Must Watch)
- PBS Special: The True Cost of the Bank Bailout
- PBS Special: Ten Trillion and Counting
- PBS Special: The Warning
- PBS Special: Inside the Meltdown
- PBS Special: Breaking the Bank
- PBS Special: Dot.Con
- PBS Special: The Crash
- PBS Special: Blackout
- PBS Special: The Wall Street Fix
- PBS Special: Bigger Than Enron
Have something we should add? Drop us a line.
