Trend Commandments – Michael Covel

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Exploring the Essential Features of “Trend Commandments – Michael Covel”

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 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. Michael 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.

Editorial Reviews

Review

“An outstanding book [Trend Commandments] for anyone who wants to become rich by trading markets. Today, government regulations and fiscal and monetary policies are badly distorting financial markets. Covel accurately explains why, in this ‘manipulated’ financial environment, you should never expect markets to move as you wish or expect. Rather, disregard your fundamental beliefs and simply follow the trend. Highly recommended!” Marc Faber Managing Director, Marc Faber Ltd. Editor, Gloom Boom & Doom Report “If you are even thinking of a career in trading, put down all the other books. Buy this one [Trend Commandments]. Read it. Now you can start your career.” James Altucher Managing Director, Formula Capital “Fire up the barbecue. Michael Covel skewers the sacred cows of Wall Street with tasty bite-sized bits of the truth about what it really takes to succeed in trading and life. Wide-ranging, irreverent, revealing, eminently quotable, and right on the money.” Charles Faulkner Market Wizard Trading Coach “A rapidly moving, non-technical, and outside-the-box effort that smartly captures the essentials of trend following.” Peter Borish Chairman and CEO, Computer Trading Corp “Michael Covel’s Trend Commandments is full of practical wisdom in bite-size portions on the benefits of trend trading–written in a straightforward storytelling format. It’s definitely one to add to your financial bookshelf.” David Stendahl Signal Financial Group “Michael Covel is the very best at explaining the concepts of successful trend following in plain English. I’m certain you’ll be a successful trader if you follow the ideas he outlines in Trend Commandments. This book (and his previous two!) are required reading for new employees in my office.” Steve Sjuggerud DailyWealth “Investors have experienced two bear markets in the last decade. This has led to rising volatility, uncertainty, and investor angst. For some it has been a lost decade, but for trend traders it has been a decade of opportunity. Trend Commandments helps you focus on what matters most: the trend of the markets, whether up or down. You can profit from either. Trend Commandments is essential reading for those who have the desire to thrive and survive in an era of fast-paced trending markets.” Jim Puplava CEO, Chief Investment Strategist, PFS Group “Buy and hold has been a difficult investment system for investors for a decade. In Trend Commandments, Covel challenges readers to think differently and question their beliefs about market ‘truths’ ingrained in them for years. Forewarned, you just may never see the world the same way again.” Mebane Faber Cambria Investment Management “Covel’s Trend Commandments offers a breezy rumination on what is right about trend following and what is wrong about conventional trading approaches.” Jack Schwager Author of Market Wizards and Schwager on Futures series “Trend Commandments is a compelling read taking on serious issues in an entertaining format. The chapter of ‘Inefficient Markets’ is a must read, and I’m still laughing at the ‘Intoxication’ chapter–because in truth there is humor.” Mark H. Melin Author of High Performance Managed Futures Director, Managed Funds, Peregrine Financial Group “Successful traders need rules and the rules in this book are better than most since they are from the most successful traders in the world. Catch my drift? To be successful you must learn and apply these rules. I rate this book a 3x–as to be read at least three times.” Timothy Sykes Author of An American Hedge Fund “In Trend Commandments Covel writes, ‘Golf Legend Jack Nicklaus is famous for saying: ‘Don’t be too proud to take a lesson. I’m not. Learn the fundamentals of the game and stick to them.’ Every beginning or experienced trend follower should take lessons from this book and your previous books. I have been a trend follower for over 40 years and I am not too proud to take lessons.” James O. Rohrbach Investment Models, Inc.

From the Back Cover

“An outstanding book for anyone who wants to become rich by trading markets. Highly recommended!”

–Marc Faber, Managing Director, Marc Faber Ltd., and Editor, “Gloom Boom & Doom Report”

“If you are even thinking of a career in trading, put down all the other books. Buy this one. Read it. Now you can start your career.”

–James Altucher, Managing Director, Formula Capital

“A rapidly moving, non-technical, and outside-the-box effort that smartly captures the essentials of trend following.”

–Peter Borish, Chairman and CEO, Computer Trading Corp

“Covel offers a breezy rumination on what is right about trend following and what is wrong about conventional trading approaches.”

–Jack Schwager, Author of Market Wizards and Schwager on Futures series

“Trend Commandments is definitely one to add to your financial bookshelf.”

–David Stendahl, Signal Financial Group

“I’m certain you’ll be a successful trader if you follow the ideas Covel outlines in Trend Commandments.”

–Steve Sjuggerud, DailyWealth

“Trend Commandments is essential reading for those who have the desire to thrive and survive in an era of fast-paced trending markets.”

–Jim Puplava, CEO, Chief Investment Strategist, PFS Group

“Covel challenges readers to…question their beliefs about market ‘truths’ ingrained in them for years. Forewarned, you just may never see the world the same way again.”

–Mebane Faber, Cambria Investment Management

“Wide-ranging, irreverent, revealing, eminently quotable, and right on the money.”

–Charles Faulkner, Market Wizard Trading Coach

In the bestsellers Trend Following and The Complete TurtleTrader, Michael W. Covel introduced trend following trading with painstaking detail and real-life stories. This new book offers a 360-degree vision designed to teach, compare, contrast, inspire, and push you to trend trading success.

Up? Down? It doesn’t matter. There are always trends, and that means there are always profits. Many of the world’s top traders are trend followers: That’s key to a fortune. You can do it, too–and now you have the rare perspective it takes to be a trend following winner.

One bite-size concept and illustration at a time, Covel shows how you can get ahead in an age of nonstop financial crisis and deepening instability. Winning means the right techniques, psychology, philosophy, and even skepticism–it’s all part of the learning, then earning process.

Trend Commandments delivers real moneymaking insights developed and cultivated from 15 years of behind-the-scenes research–intellectual access you can’t fake. It’s the most digestible and one-of-a-kind trend trading book ever written. 

• Reap the spoils when domestic and global markets crash…
  …and find big waves to ride even when people aren’t panicking
•  Don’t waste time trying to predict the future…
  …learn how to think and react to what is actually happening
•   Decipher the ‘noise’ in a sea of competing voices…
  …let go of ‘value,’ mutual funds, the Buffett legend, and Goldline (to name a few)
•  Listen to the market. It always tells the truth…
  …and the “price” is the only true trading reality you can trust

About the Author

Michael Covel is the author of five books: including the international bestseller, Trend Following and his investigative narrative, The Complete TurtleTrader. Fascinated by traders that quietly generate spectacular returns, those going against the grain of investment orthodoxy, he has uncovered astonishing insights about how they think, strategize and execute their systems.

His cutting-edge and unorthodox perspectives have garnered international acclaim and have earned him invitations with: China Asset Management Co., Ltd., GIC Private Limited (Singapore sovereign wealth fund), BM&F Bovespa, Managed Funds Association, Bank of China Investment Management, Market Technicians Association. He also has the distinction of interviewing four Nobel Prize winners in economics, including Daniel Kahneman and Harry Markowitz and has been featured by major press, including: The Wall Street Journal, Bloomberg, CCTV, The Straits Times and Fox Business.

Covel’s Trend Following Podcast now has over 2.5M listens (trendfollowing.com/podcast) and has ranked as high as #2 on iTunes. He splits his time across USA and Asia and sees location independence as our future.

Product details

Publisher ‏ : ‎ Ft Pr; 1st edition (June 24, 2011)
Language ‏ : ‎ English

Customer reviews

DrGreenTech
When the ship starts to sink, don’t pray … jump !
Reviewed in the United States on July 14, 2011

One of the better quotes from the last part of the book, to me clearly the best part and the main reason for reading it over and over again. Having read Michael’s earlier works, but having continued to “struggle” with my investments in general (i.e. having lost money in non-trivial amounts) in the meantime, I’m now more than ready to contemplate a change of course towards TF-strategies for the bulk of my money.
I was somewhat surprised by the content of the book, expecting more of a lecturer / instructional piece of work, but this one actually works better, at least for me. Yes, it’s a manifesto for the strategy, but the facts keep coming in, and they are not supportive for most other strategies, including the supposedly “hot” global macro ones . The best part though, and I repeat myself here, are the quotes at the end of the book, under “Quick Commandments”. Among my other favorites :
– Talk is cheap and rumors are even cheaper
– All see, few observe, fewer still compare
– Markets are never wrong, opinions often are
– The smarter you are, the longer it takes
There are many more gems where these came from, so sit back and relax, and enjoy the ride – and get involved.
(Sooo looking forward to your “Little Book…”)

Yvan.

Mr. Wan
Good beginner book
Reviewed in the United States on January 7, 2012

Michael Covel would have you believe that making money in the market is as simple as sticking with the trend. Just “trade with the trend,” take the occasional drawdown, and build yourself a fortune. Testing shows the “Turtle” system has basically done nothing over the past 15 years. False breakouts and whipsaws are commonplace. A lot of “trend following systems” do not work. You’re not going to build a fortune using Donchian Channels. This is not 1970.

Let me summarize the book:
The trend is your friend
Cut your losses short and let your profits run
The big winners in the futures market are trend followers
Trend following has large drawdowns
You can be right only half the time and still make big money if your losses are small
Money is made by sitting on your hands and sticking with the big trends

If you’re already familiar with these sayings this book won’t teach you anything new. If you’re not familiar with them chances are this book could help you become familiar with them.

This book has very poor editing. I don’t think anyone edited it.

Now, if only I could develop a robust, profitable trend following system with simple rules. That seems to be the biggest challenge before and after I read this book. This book is great to get you motivated or for comfort in a drawdown, assuming you have a profitable system.

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