Phil Jackson’s 11 Principle’s of Mindful Leadership are worth reviewing, but #10 is the trend following creed:
10. When in Doubt, Do Nothing. “Basketball is an action sport, and most people involved in it are high-energy individuals who love to do something—anything—to solve problems. However, there are occasions when the best solution is to do absolutely nothing. I subscribe to the philosophy of the late Satchel Paige, who said, ‘Sometimes I sits and thinks, and sometimes I just sits.'”
Trend following = do nothing until you have to do something.