Michael Covel, Author
Publisher: FT Press
Michael Covel's "Trend Following" is an international bestseller. It is on the shelf of all wealthy traders. This bestselling trend following classic is available in German, Japanese, Chinese (Traditional and Simplified), Korean, French, Arabic, Turkish, Portuguese and Russian.
What Are People Saying?
"My favorite of the new TA [technical analysis] books is 'Trend Following' by Michael Covel. Straightforward, easy to read, this book is rich in details about why trend following is such a successful strategy amongst some of the world's best-performing hedge funds."
The Big Picture
"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."
Millennium Wave Investments
"The toughest play in baseball is to catch a ball hit directly at you. The toughest thing for any trader is to stay with the trend. The temptation always is to get fancy, to fade the long-term move, to pretend that you are smarter than the market somehow. The big money is made by identifying the trend and sticking with it no matter what. Michael Covel has written an indispensable work to help you do just that."
President, Rosewood Trading, Author and Trading Consultant
"As a contrarian investor I have been skeptical by default of trend following models. Still, after reading Michael Covel's excellent and eye opening book about some professional traders, who with iron discipline follow market trends up and down and in the process achieve impressive capital gains, I find myself more inclined to endorse a trend following approach to investments. In fact, I wished that at times I would have had the kind of discipline the trend followers have in terms of entirely reversing their investment positions once the trend dictated such a posture. I think that Michael's Trend Following is an outstanding read from which all investors can learn to trade markets better by limiting their risks and maximizing their profits through a more disciplined approach to investments."
Managing Director, Marc Faber Limited
Editor, Gloom, Boom & Doom Report
"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
"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. But, on top of that, it really delves into the human nature of investors and traders like I've seen few books do well, and that alone will make it worth the read...Once you begin reading the book, if you have a choice, I bet you will put it down only for meals and bathroom breaks. It's that well done...Again, get this book. Covel has hit a homerun with it."
Stocks, Futures & Options Magazine
"Trend Following is a great addition to my trading library because I trade using this philosophy. Whenever I am in a drawdown and thinking of overriding my system I reach for the book to remind me why I selected trend following to begin with. Trend Following (the book and the approach) is not for everyone in this age of short-term trading, but for those who are looking for a different approach to their trading or want to just learn about trend following the book is a great resource."
"For investors willing to engage in some insightful discussion of their core investment philosophy, the book will challenge long-held beliefs. Perhaps the most controversial argument is that Wall Street's great effort of analysis and projections of the future are of little or no use to the serious investor. According to Covel, if the objective is to have a defined strategy to put capital to work for a profit, then investors are traders and the difference is more than a parsing of semantics...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. Importantly, Covel makes the case that investors are likely to benefit from having a portion of their portfolio invested in a non-traditional approach that adapts to whatever stock or asset class is exhibiting definable trends. While this 'trader' mentality may strike some as inappropriate, this approach is becoming modus operandi for some of the most sophisticated and successful long-term investors."
Former Legg Mason Chief Market Strategist
"Michael Covel's book, Trend Following, is a great read. If you haven't already bought it and studied it, you should. It discusses the rationale for trend following, the tremendous long-term track records of many prominent trend followers, like Bill Dunn, John Henry, and Ed Seykota, and explains how those track records were generated."
"A mandatory reference for anyone serious about alternative investments."
"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."
"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."
Your Trading Edge Magazine
"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."
"The only two tests of a really good trading book are: Will it help you make money? Will it help you cut your losses. Trend Following passes both tests with flying colors. It has a clarity that is compelling. While it discounts what I regard to be the useful role of macro analysis in understanding the origins of trends, it nonetheless reinforces the most important rule in sound trading -- trade with the trend -- in a way that triumphs. Last take: If you are a quote junkie like me, the quotes alone are worth the modest admission price."
Professor of Economics and Public Policy, Graduate School of Management
University of California, Irvine
"Trend Following by Michael Covel explains the wisdom behind the trending function of the markets. The practical application of this philosophy is based on the pervasive logic of price behavior. Market Stories and Market theories will come and go but trends will remain. Follow them...and study this book."
Author of Behavioral Trading.
"I think that this book documents a great deal of what has made Trend Following Managers a successful part of the money management landscape (how they manage risk and investment psychology). It serves as a strong educational justification on why investors should consider using Trend Following Managers as a part of an overall portfolio strategy."
Originally profiled in The New Market Wizards
"At a time when the conventional wisdom is often wrong and many traditional indicators have lost their relevance, it's good to know there is a resource out there that traders can depend on. With its timeless wisdom and valuable insights on making money, Michael Covel's Trend Following is definitely your friend."
Author of The New Laws of the Stock Market Jungle
"Michael Covel mixes a unique blend of trend following matters with the thoughts and quotes of successful traders, investors and society's leaders. This is a valuable contribution and some of the best writing on trend following I've seen."
Robert (Bucky) Isaacson
Trend Following Pioneer for 30+ Years
"Michael Covel's Trend Following is a breakthrough book that captures the essence of what really makes markets tick. Diligently researched and comprehensive in scope, it will replace Market Wizards as the must-read bible for a new generation of traders."
Fox News Contributor
"Trading with the trend has always been one of the keys to trading longevity. Now you can understand how the greats have used that information and more importantly how you can use that information! I highly recommend Michael Covel's Trend Following."
Author of The Trading Systems Toolkit
"Trend Following: Definitely required reading for the aspiring trader."
David S. Druz
Tactical Investment Management
"Michael Covel reveals the real secret about trading - that there is no secret. His points are peppered with wisdom from experts across the industry."
President, MESA Software
"Trend Following by Michael Covel? I'm long this book."
Developer of Mechanica Software
"...an engrossing and educational journey through the principles, pitfalls, players and psychology of aggressive technical trading of the investment markets. Rich in its wisdom and historical study."
President, Signalert Corporation
"...I can safely say that this book is a classic and a must-read for anybody involved with the markets -- even those of you who are just blindly plowing money into your retirement accounts...Covel takes no prisoners in showing why trend following is the superior trading methodology. He lays waste to all other styles of investing/trading -- 'buy & hold' (Warren Buffett fans will just love chapter nine...The book illustrates how that methodology [Trend Following] has allowed them to make huge profits from some of the greatest financial disasters of modern times such as the Enron debacle, the collapse of Long Term Capital Management, the 1997 Asian Contagion, the 1987 stock market crash, or the popping of the NASDAQ bubble."
"[Trend Following] covers how to get in and out of a trade and how much money to risk, in addition to many other helpful hints on how to best profit from the trend."
Technical Analysis of Stocks and Commodities Magazine
"Trend Following is a great resource for all future successful traders. It covers the four bases of successful trading using real-world success stories: Follow the trend of the market; don't waste time trying to predict it. Have sound money management rules, especially a strict loss-cutting policy. Be disciplined by implementing proven trading rules. Have the patience to wait for the right opportunity. Michael Covel has hit for the cycle with Trend Following."
Author of Lessons from the Greatest Stock Traders of All Time
"This is an excellent book that I highly recommend...No, there are no secrets in it, but it's extremely well written and contains many nuggets of knowledge from a multitude of top traders. I enjoyed it more than the Market Wizard books. It earned a spot in my 10 all-time favorite trading books."