16 thoughts on “Trend Commandments by Michael Covel

  1. You should have a “thumbs up” button on your website for these occasions 🙂
    Congratulations

  2. I finished reading this over the weekend on the Kindle.

    Top class once again Michael, thank you for sharing your excellent work and insights.

    I would have read this in a single session had I not been pre-committed to something, but even so, read it in two 🙂

  3. I have read all your books, and Trend Commandments is a good refresher. Michael, is your list of favorite books still available on your website? Can’t seem to find it. Thanks.

  4. I was wondering whether the guys Michael’s book ‘Trend Commandments’ have read ‘Trend Following’ and ‘The Turtle Traders’. If yes, I am wondering… what’s new in this book? I enthusiastically bought the book… but couldn’t find any juice in it. It’s just more quotes from ‘legends’, a break-down of concepts introduced in earlier books by Michael.

    I am not arguing with the success Mike has… just being critical about all the wheeh out there. :-))

  5. :-)) I just meant… there is nothing new really in your latest book. I supposed it was just for another audience! It’s marketing… you gotta have various products for various customers! :-))

  6. Mike, I am open to different views… that keeps me driving!

    BTW: Stats, out of the last 18 blog entries 9 are references to your products.

    I am getting your ‘little book’ within the next days.

    Be well!

  7. Excellent book. I just finished it. I am familiar with many of the things covered, but the presentation is what I thought made the book.I have thought that you have always pulled the curtain back to show us what is really going on! There is no “wizard of trading”, there are no secrets just a lot of work and discipline. This book covers the psychology/methodology behind what makes great traders great. The work and discipline. It is different from the other books. They all stand well on their own, but in concert they are very powerful. I thoroughly enjoyed the topics presented with qoutes from movies, songs, and traders. I am looking forward to your little book of investing.

  8. Hi Michael,
    I have read all your books. Your TF and TT are superb. You might be disheartened to know that your Trend Commandents is not so good as your earlier two books. May be you have nothing left to write after first two books. However, I am great fan of you, therefore, if anything contains just 5% of your earlier books, I will go for it. I am awaiting any source to buy your 4th book “the little secrets ..” [Covel: It is The Little Book of Trading, not “secrets”] but it is not awailable…Shiv Ji Singh

  9. Shiv, “Trend Commandments” is not designed to be “Trend Following” or “The Complete TurtleTrader” or The Little Book of Trading. It is designed to be what it is–on purpose. For example, Mike Moody at Dorsey, Wright Money Management (mentioned earlier in this thread) understands the “Trend Commandments” design:

    Like all of Michael Covel’s prior books, Trend Commandments is well-written. The first time through, I read it in one sitting. However, it is quite different in style and intent from Trend Following and The Complete TurtleTrader. “Trend Following” introduced an unfamiliar approach to trading, to many people for the first time. This book is about more than the tenets and background of trend following. “Trend Commandments” is an inspirational piece and exhorts the reader to stop making excuses and go out and do something about it. This book is also about mindset and motivation.

    Trend following is not complicated. Mr. Covel points out that you need answers to only five questions: 1) what market do you buy or sell at any time? 2) how much of a market do you buy or sell at any time? 3) when do you buy or sell a market? 4) when do you get out of a losing position? and 5) when do you get out of a winning position?

    The tough part of trend following is in the doing. Mr. Covel discusses the discipline required and the psychological mindset needed in a very entertaining and systematic way. In approximately 60 short chapters, he hits on nearly every trend following topic imaginable—from many different angles. There’s tremendous throughness here, which may bother some readers, but it’s mostly because so many parts of the trend following mindset are interrelated. When you see something and you think to yourself ”didn’t he just say that a couple of chapters ago?” you’ll find that it wasn’t quite the same and that he is simply exploring a closely related topic from another angle.

    When I say it is both thorough and entertaining, you still might not have the right idea. The bibliography ranges from Bill James to Seth Godin to Ludwig von Mises. There are citations ranging from the movie The Matrix to the Greek philosopher Epictetus to the Smashing Pumpkins—and that’s just in the first two chapters. That might give you a better flavor for how much fun this book is to read.

    Beyond just a discussion of risk and reward and the tenets behind trend following, Covel’s argument is essentially a moral one about initiative, self-reliance, and accountability—things that are sorely lacking in our culture today. Without a strong moral core, you’re not going to succeed in anything, least of all investing.

    In short, the book covers the waterfront on trend following and Covel makes his points well. If you don’t understand trend following as an investment approach after reading this book, well, maybe the light is never going to come on for you.

    In a world awash in fundamental forecasts, self-appointed gurus, false prophets, efficient marketeers, modern portfolio theorists, high-volume gong-ringing market commentators, and a public (along with much of the investment industry) striving for safety in the middle of the herd, going it alone as a trend follower is certainly the road less taken. And that may make all the difference.

    Everyone has their view, but take the time to see a book for what it is, not just what it isn’t or what you want it to be.

  10. Dear Michael,

    You have come up with a new superb book – The little book of trading. I liked it a lot. After reading your Trend commandments, I was a little disappointed but this one is really superb. I am astonished, if we, your readers benefit so much in real life trading, why, you, Michael, is not trading and making millions (if not billions) by trading. I would love to see your comments.

    Shiv

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