This is the Safari online edition of the printed book.

“Michael Covel’s Trend Following: Essential.”

--Ed Seykota, trend follower for 35 years and original Market Wizard

“A mandatory reference for anyone serious about alternative investments.”

--Jon Sundt, president and CEO, Altergris

“Michael Covel does an excellent job of educating his readers about the little-known opportunities available to them through one of the proven best hedge fund strategies. This book is like gold to any smart investor.”

--Christian Baha, founder and owner, Superfund

“Covel has created a very rare thing--a well documented and thoroughly researched book on trend following that is also well written and easy to read. This is one book that traders at all levels will find of real value.”

--John Mauldin, Thoughts from the Frontline

The Investment Strategy That Keeps on Making Money While Everyone Else Is Losing It:
How Trend Followers Made a Fortune During the 2008 Stock Market Crash

Did your buy and hold investments survive the crash of 2008? While many were getting hammered, trend followers were earning profits ranging all the way up to +40% for the month of October 2008 alone!

Now, the #1 guide to trend following has been thoroughly updated to reflect 2008’s cataclysmic events. Michael W. Covel reveals exactly how the trend followers achieved those amazing results. Using simple, up-to-the-minute charts from top traders, he doesn’t just prove this strategy works: He shows why only a technical system based on following price trends can win over the long term.

Best of all, he shows you exactly how to apply the same strategies in your own portfolio--so you, too, can keep on profiting no matter what happens next!

For more than 30 years, trend following has been the one trading strategy that’s consistently delivered extraordinary profits in bull and bear markets. While most investors were losing a fortune in the 2008 stock market collapse, stuck in buy and hold investments, trend followers were earning huge profits...up to a whopping +40% in the single month of October 2008! The proof’s in this book: brand-new data you can view for yourself, plus all the information you need to know to utilize the same timeless strategies in your portfolio.

In this fully updated edition, trend following expert Michael Covel introduces the traders and fund managers who’ve been using this strategy for decades, adding brand-new profiles such as David Harding, who manages $10 billion plus dollars through his London-based trend following firm. Then, Covel walks you through all the concepts and techniques you need to use trend following yourself. One step at a time, one simple chart at a time, you’ll learn how to understand price movements well enough to profit from them consistently--in any market.

Today, you need trend following more than ever. Read this book, and put it to work for you!

• Real proof, real data, real results
  Includes over a decade of detailed performance charts, updated to include the Fall 2008 market crash

• All the Information You Need...in One Number
  Why the market price still tells you all you need to know to trade--and always will--in both bull and bear markets

• Pinpointing Targets of Opportunity
  What to trade, when to trade, and how much to trade

• Meet Today's Leading Trend Followers
  Extraordinary trader profiles, from David Harding to John W. Henry to Ed Seykota

Amazon.com® Reader Reviews (Ranked by Helpfulness)

Average Amazon.com® Rating:  Based on 45 Ratings

A long sales pitch - nothing more - 2009-08-20
Reviewer Rating:
This is the first time I have written a review of a book. However, this time I am compelled to warn other suck... readers about this book. It is nothing more than histories, interviews, and track records of Trend Following businesses. There is no "how to" (these are closely guarded secrets or you have to pay for courses). My recommendation - save your money; don't make these finance wizards rich by buying their drivel.Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets

A Philsophy Book, Not a Technical Manual - 2009-07-29
Reviewer Rating:
Trend Following is the sort of book that can either be very rewarding or very frustrating. If you pick it up thinking it's going to provide some secret methods and techniques for trading you are going to end up being one of the folks who ends up panning it because they didn't get what they expected. This is not a technical manual full of strategies. If you understand that going in you'll get a lot more out of it.

This book, to my mind is like a trading version of a text exploring a specific philosophy such as Taoism with something of a comparisson to Buddhism, for example. Trend Following describes the philosophy and highlights some of its promonent proponents. And just like most books on philosophy, it sets you up for further exploration rather than presenting you with a "how to" instruction.

I think if you have the philosophy mindset going in it will go a long way toward helping you find value in the book.

Compelling but suspect - 2009-07-24
Reviewer Rating:
I wanted to love this book. Early on it seems to fulfill its promise of pulling back the veil of a marvelous hidden world of brilliant and wonderful characters whose tactics and strategies we will learn to great advantage.

The problem is that while the book impressed me with the brilliance of these interesting and extraordinary folk, it never gave me any confidence that I could emulate their feats or a clear road map on how to go about doing it. And while Covel assures us that the salient distinction between trend followers and their more timid brethren is not intelligence, frankly the successful trend followers seem to combine native intelligence, superior training in math, finance, and economics, and institutional resources that the average person--and by average I mean average person of a standard deviation or two above normal intelligence--would be hard pressed to match.

I found it suspect that there is not a single mention of Burton Malkiel. I understand that Malkiel's theory of market investment is diametrically opposed to Covel's, however, engaging with Malkiel would be a more intellectually rigorous practice than avoiding him.

In sum, while trend following may be a viable practice for some extremely sophisticated investors, I think it is likely to lose money for most people, who would be much better off following a diversified, low-risk investment portfolio. I would suggest that one at least read The Random Walk Guide To Investing before making any decisions based on the information in this book.

Great and highly informative book on the topic! - 2009-08-06
Reviewer Rating:
First of all, I do have to admit that I am wary of any book, seminar, or advertisement that says "Learn to make millions ...", and so as I started reading this book, I hoped that there was not too much hype built into it. I was pleasantly surprised by the amount of useful information, well-researched anecdotes, and multitude of references to outside sources that the book presents. Alas, I probably have, in the past, belonged more in the "investor" category than the "trader" category, and I am guessing that I got more out of this book that some traders who manage their portfolios on a weekly or daily basis. This is not so much a how-to cookbook, and there are no 12-step plans to make your millions, but I found its presentations of trading philosophy highly thought-provoking and, given the market crash of 2008, motivates me to go from being more of a moderately-engaged investor to looking at my portfolio more as a highly-engaged trader. It was a very useful, and timely, read for me!

Enjoyed the book, now waiting to see if millions are coming - 2009-07-18
Reviewer Rating:
As with a lot of books of this type, the theory is relatively simple, and the hundreds of pages are support for the simple theory. If the theory is valid, then the book is worth reading. As I write this, the market is trending higher and the theory is working, and so I consider this having already paid for the book. If I feel that it increases my portfolio as little as $20,000, I will raise it to 5 stars. Incidentally, it is well written and an interesting read.

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