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Trend Commandments: Trading for Exceptional Returns
- By Michael W. Covel
- Published Jun 14, 2011 by FT Press.
- Copyright 2011
- Dimensions: 6" x 9"
- Pages: 288
- Edition: 1st
- Book
- ISBN-10: 0-13-269524-3
- ISBN-13: 978-0-13-269524-4
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Product Author Bios
Michael Covel (San Diego, CA) is a highly respected author, director, and entrepreneur who founded the internationally known website TurtleTrader.com in 1996. Covel's first book was Trend Following: How Great Traders Make Millions in Up or Down Markets. The book profiles great trend following traders who have won billions in the market (100,000+ plus copies sold, translated into 10 languages). Covel's second book, The Complete TurtleTrader (translated into 6 languages), is the definitive inside look at the legendary trader Richard Dennis and his student traders, "The Turtles." The book has received wide acclaim from the Turtles themselves.
Do you ever think the stories you hear about great trading, and the gains produced, sound like luck? Do you ever wonder if there is a real method and philosophy behind the success stories? The concepts condensed into Trend Commandments: Trading for Exceptional Returns were gleaned from Michael Covel's 15 years of pulling back the curtain on great trend following traders. It is a one of a kind money making experience that forever lays to rest the notion that successful trading is akin to winning the lottery. Winning has a formula, as does losing. Covel nails both head on. Getting rich is a fight; make no mistake about it, but at least now with Trend Commandments you have a primer that allows you to crack the code of the winners.
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21 of 21 people found the following review helpful
All talk no substance,
Amazon Verified Purchase(What's this?)
This review is from: Trend Commandments: Trading for Exceptional Returns (Hardcover)
I was certainly looking forward to receiving this book when I ordered it. As a stock and options trader, I was looking for a book that would help me better identify and analyize trends before investing, as well as entry and exit points. Did this book provide any of that information? The answer is "NO". This book is obviously written by an egotistical individual that simply likes to hear themself talk and ramble on. What's worse, it appears that he has found a way to con people into listening to his dribble.Obviously, investing long or short based upon the current market trend is one of the most accepted ways of investing. It is not something new or novel, that is distained by many investors, as this author would have you believe. In addition, there is other ways to analyize and play the markets that are also successful. However, this author appears to simply want to trash every other investment method and spend an inordinate amount of time patting himself on the... Read more
83 of 96 people found the following review helpful
How to be a Market Wizard, By
This review is from: Trend Commandments: Trading for Exceptional Returns (Hardcover)
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This is a very valuable book because it distills the wisdom of some of the world's greatest traders into one place. Michael Covel has spent 15 years studying the methodology, risk management, and psychology of legends like Ed Seykota, Larry Hite, previous turtle traders, Paul Tudor Jones, Salem Abraham and many others. He has also studied the entire history of trend following and the writings of historical figures like Jesse Livermore, Richard Donchian, and Charles Dow.This book is compilation of the principles that real life trend followers used to make and keep millions, and for some billions in the market. Any trader should be able to pick up this book and get inside the minds of these market wizards. The problem is that many people do not "get" trend following. They ignore the success of these traders and want to opine about how it does not work, or complain that the draw downs are to large, or that these are only the "survivors" what about the trend... Read more
23 of 26 people found the following review helpful
Covel Hits the Nail on the Head, By
This review is from: Trend Commandments: Trading for Exceptional Returns (Hardcover)
Anyone who has read any of Michael W. Covel's books knows from the outset that this newest book TREND COMMANDMENTS is going to be not only a learning experience but a very supportive tome of advice and reassurance about a subject few of us understand. Having read 'The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires' this reader jumped at the chance to see what else Covel has up his sleeve.Trend Trading may seem like yet another of those big money terms that leaves the bulk of us on the outside. But as presented by Covel it is understandable as a concept and accessible as a means of approaching the money market. By definition, 'Trend following is an investment strategy that tries to take advantage of long-term moves that seem to play out in various markets. The strategy aims to work on the market trend mechanism and take benefit from both sides of the market, enjoying the profits from the ups and downs of the stock or futures markets... Read more |
Online Sample Chapters
Trading for Exceptional Returns: Expectations
Trading for Exceptional Returns: Ignition
Table of Contents
Acknowledgments 1
Ignition 3
Expectations 9
Jargon 11
Show Me the Money 15
Blowing Bubbles 25
Speculari 29
Fundamentals Are Religion 33
Everything Flows 39
Systematic Trend Following 41
Change 45
No Prediction 47
Price Action 51
Place Your Bet 55
Trading Systems 59
Trade Everything 65
Drawdown 69
Entry 73
This Way to the Egress 75
Losers Average Losers 79
Home Run 81
Robust 85
Push the Button 87
Wash, Rinse, Repeat 91
Zero-Sum 95
Crash and Burn 97
Inefficient Markets 101
Benchmark 105
Haters 109
The Root of All Evil 113
Panicky Sheep 117
IQ vs. EQ 123
Commitment 127
Decide Now 131
Science 135
Statistical Thinking 137
Aha! 143
Hero Worship 147
Buy and Hope 151
Convert 155
Oracle of Omaha 157
A Seinfeld Moment 161
Snow Job 165
Twit Me a River 169
Goldline 173
Intoxication 175
Parliament of Whores 181
Crowded House 185
Black Box 187
Lucky Monkey 189
Honest 193
Under the Radar 199
Ethos 201
Games People Play 205
Blood Hound 207
Epilogue 211
Extras 213
Surprise, Surprise, Surprise 215
Origins 221
Cheat Sheet 235
Quick Commandments 239
Bibliography 242
Endnotes 246
About Trend Following & Michael Covel 265
Index 267
Sample Pages
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