Trend Commandments Feedback

Eric Chaffee writes:

The Invisible Hand has gripped this book and is ready to smack you wide awake from that fundamentalist delusion called “buy and hold.” Are you ready to be prodded from the hypnosis which the Rancher (“Pay no attention to that man behind the curtain”) of that financial milking machine has strapped onto your gut so you can be stripped of your hard earned savings while you slave away in the matrix barn? Wall Street does not want you to read this book. Your broker, and CNBC will trash-talk all variants of Trend Following. Why? (You’re their cash cow! They have big incentive to keep you docile and content, with your head in the stanchion.)

This book is not a How-To get rich. If you’re looking for TEN “Thou shalt not’s” you’re a fundamentalist. (You need this book more than most.) It contains no recipe to follow, listed in 10 bullets! The rules are presented as insight to be extracted from between the lines, and must be refined by you for internalization and application. “Trust the Force, Luke.” Trust the thrust of the Trend, and you’re ability to notice it — and ride it all the way to the bank. Trust the wisdom of Stop Loss which will save you much grief and regret. The writing is a fresh breeze, perhaps of gale force, which I devoured in a day. I’ve marked it up for frequent review.

The text is littered with delightful graffiti: lyrics, proverbs, quotes, all of which are very stimulating, but they are footnoted instead of being attributed on the page where they appear: Booo! (I hope an editor will fix this before going to press. I got an advance copy which should be improved, please.) The author has done us all a deep favor by gathering these reflections and histories into a single volume. Highly entertaining, and, I suspect, profitable for all who are ready to awaken: you have nothing to lose but your losses! There are even many brief walk-ons which will be sure to amuse: Warren Buffet (as Jason Bourne!); Ben Bernanke, contradicting himself; et al.


2 thoughts on “Trend Commandments Feedback

  1. “The rules are presented as insight to be extracted from between the lines, and must be refined by you for internalization and application.” I couldn’t agree more with this comment about “Trend Commandments” or any of Michael’s other books. I recall lending a broker friend of mine “Trend Following” and he later thrust it back at me with disgust and said. “He doesn’t tell you how to do it!”
    Do your own research, maybe? Do your own Homework? Everybody wants to be spoon-fed but then they don’t want to digest what they’ve been fed:
    “I’ve always say that you could publish trading rules in the newspaper and no one would follow them,” –Richard Dennis quoted in Trend Following, p 77.

  2. Another excellent book by Covel. I always noticed stocks did well when they were trending up, but I did not know how to enter or exit the trend. After reading Covels books and other trend followers I devised my on system and I am now able to enter and exit trending trades. Thank you Covel, I never made so much money. I can’t wait for your next book. TREND FOLLOWER TO THE END.

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