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Trend Following, 5th Edition

How to Make a Fortune in Bull, Bear and Black Swan Markets
Length: 34 hrs and 18 mins
4.5 out of 5 stars (11 ratings)

Non-member price: $43.45

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Publisher's Summary

Want to take the financial journey to a new investing philosophy that might very well affect the rest of your moneymaking life? No one can guarantee the yellow brick road, but Michael Covel promises the red pill will leave you wide awake. Trend Following reveals the truth about a trading strategy that makes money in up, down, and surprise markets. By applying straightforward and repeatable rules, anyone can learn to make money in the markets - whether bull, bear, or black swan - by following the trend to the end when it bends. In this timely reboot of his best-selling classic, Michael Covel dives head first into trend following strategy to examine the risks, benefits, people, and systems. You'll hear from traders who have made millions, and learn from their successes and mistakes - insights you'll only find here. You'll learn the trend philosophy and how it has performed in booms, bubbles, panics, and crashes. Using incontrovertible data and overwhelming supporting evidence, with a direct connection to the foundations of behavioral finance, Covel takes you inside the core principles of trend following and shows everyone, from brand new trader to professional, how alpha gets pulled from the market. His newest edition has been revised and extended, with seven brand new interviews and research proof from his one-of-a-kind network. This is trend following for today's generation. If you're looking to go beyond passive index funds and trusting the Fed, this cutting-edge classic holds the keys to a weatherproof portfolio.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.

©2017 Michael W. Covel (P)2017 Michael W. Covel

What members say

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Repetitive - 34 hours of "trend following is great

If this book wasn’t for you, who do you think might enjoy it more?

People who need to be reassured that trend following works

Has Trend Following, 5th Edition put you off other books in this genre?

Yes. It's an endless advertisement for how great trend following is without going into any specific trend following strategies. Really boring after 5 minutes.

Which character – as performed by Joel Richards and Michael Covel – was your favourite?

None of them. They all said the same thing and so were all the same character.

If you could play editor, what scene or scenes would you have cut from Trend Following, 5th Edition?

The endless quotations are tedious. The whole thing on speculation was really tedious and unnecessary. Cut everything after the first chapter.

Any additional comments?

This book is a boring rant on how great trend following is. How about some specific strategies and comparing and contrasting relative strengths and weaknesses? That is what I was hoping for but what I got was a long winded outpouring of pseudo research extolling the benefits of trend follwoing as a concept. No kidding -- buying at the start of s trend and selling at the end of a trend can make you money - hardly a revelation, but the author presents it as a radical idea. It is not, nor has it ever been. The book is an interminable statement of the obvious.

3 of 3 people found this review helpful

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  • Onke
  • 27-04-2018

Absolute disappointment and a total treasure all in one

I have so much to criticize about this book, yet I would recommend it to absolutely anyone who’s trying to become a trader, or a better trader. I’ll start with the criticisms but please, please read through to the compliments as well, because there are plenty.

1. The biggest disappointment for me was that the title is very misleading; after reading this book you will not be able to go to your laptop and start trading a trend trading strategy.

2. The book is excessively long and becomes very repetitive in the middle.

3. As much as he’s an absolutely great guy and backs up his beliefs thoroughly, Mr Covel is very critical of those who might disagree with him.

And now... The Compliments🍾🎉🎉🎉

A. The academic rigor of this book is absolutely outstanding! Although I got no strategy from this book, I got absolutely excellent questions to ask along the way, questions that should help me develop a robust trading system and know how what to do before I can trust it.

B. Towards the end, he adds on some interviews with great traders such as Tom Basso, from which you get insights that you could never get from any one else! He also interviews experts, including a Nobel Prize winner, in critical areas such as Game Theory, Deliberate Practice, NLP and Psychology of Thinking

This is a book that will definitely help you become a better trader, but even more than that, it will help you become a better person if you endure and listen right until its end.

9 of 9 people found this review helpful

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  • A. Mark
  • 05-03-2018

Lots of content, but...

There is a lot of time in this audiobook but not much depth. Half the book is also repeated as audio interviews. Its good general info but don’t expect to get any specifics from this book.

3 of 3 people found this review helpful

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  • Kathy Brewster
  • 21-08-2017

Fantastic!

A must read for anyone interested in Trend Following!! Covel again knocks it out of the park with his latest edition! The audiobook is awesome too, especially the added interviews at the end! You will not want to stop listening to this masterpiece!!

Bill B.

1 of 1 people found this review helpful

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  • Amazon Customer
  • 20-07-2019

If you missed it, you don't want it bad enough...

As a professional trader who uses Trend Following, I can honestly say this book clearly lays out how to make money using trend following. I actually put off reading this book for many years due to the fact that I had read so many other "Trading" books claiming to explain how to become a successful trader that were merely hype and B.S.
If you truly desire to become a successful trader it will not be easy, and you must have grit, because the markets don't care about you or your feelings. The markets simply move and evolve, when you decide to stop fighting the trend and attempting to trade based on predictions, you will find your "A-HA" moment. This book will definitely assist you on getting there.
Lastly there is a difference between reading and comprehension, be willing to read and re-read multiple times, don't move on until you can demonstrate to yourself what is being explained. Take opportunities to stop, look at charts outside of the book, can you find examples in other markets of what is being explained in the book?

"Knowing is not enough, we must apply, Willing is not enough, we must do." - Bruce Lee

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  • Christian
  • 17-07-2019

Great book, must read

This is a simple yet very effective book. It dives into the characteristics of trend following and has interviews with top trend followers. A life time worth of lessons are in this book.

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  • yZak
  • 06-03-2019

books that change you

this book cahnged my Outlook on life and how to make money via a system. I reread this book often. and have owned it through audio since the first day it came across my audible. I enjoy challenges and the systematic way is challenging in so many good ways. give it a shot. I double dog dare you.

thank you m. covel.

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  • Beck Dogs
  • 27-01-2019

No real information provided

All of the negative reviews are true. I won’t go into further details. Suffice to say I listened for three hours, learned nothing, then returned the book to audible. This book is a waste of time.

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  • Anonymous User
  • 19-01-2019

long3

like what they said. I believe in trend following now. only bad thing is to long

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  • EAP
  • 04-12-2018

Buy the earlier addition

This audiobook was insanely too long 39 hours is crazy. Cut out all of the famous quotes and learn to be more concise. I can’t believe your publisher and editor let you keep all that fluff in the book. this was a huge waste of time and whatever the point was It was lost. Now I need to buy another book that actually explains trend following and more in importantly how to do it as this book does not.

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  • J na ma
  • 22-11-2018

80/20

This book follows the 80/20 rule, just take in trend following and trader stories and everything else is mostly amateurish statistics and psychology blabber, still good though

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  • Karl Eglington
  • 27-04-2018

Trend Following

I can only imagine the hardwork, doggedness, frustration, time and joy involved in making this work of art/science. Trend Following has changed my thought process in life, not just trading. Well done Michael Covel and thank you!

2 of 2 people found this review helpful

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  • Stella
  • 08-01-2018

A wealth of information

Informative, eye opening and a must read for any serious trader whether a beginner or experienced.

1 of 1 people found this review helpful

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  • Stephen ryng
  • 27-04-2019

Covel, the gift that keeps on giving.

I really rate Michael Covel's books, There's just so much content and depth.
Each chapter in this audiobook covers another angle of the Trend Following world and was a joy to listen to. Not only do we get to listen to the authors extensive knowledge but we're then treated to Titans of the Game and their thought processes. I think it speaks volumes when these types are thanking Mr Covel for his contribution and it's required reading at their company's.
The audio interviews at the end was the cherry on the top!
Let's see what Trend Commandments is all about...

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  • Mr
  • 26-04-2019

Covel's Trend Following Magnum Opus!

This is really not one book, but three books spliced together. The first part is Covel's original book on trend-following, updated for recent events. The second is a series of studies looking at various aspects of the strategy in various formats, and the third a series of interviews from Covel's podcast. The whole package is a very long (perhaps a little too long), very comprehensive, and an utterly fascinating look at this classic but little-loved trading style. As someone who loves trading and loves financial markets, I found the whole package very satisfying. If you're hard-core into analyzing statistics, you probably want to get the paper-version, as the long list of numbers and cross references to the PDF, quickly get confusing in audio format.

It dove-tails very nicely with the works of Nassim Taleb's work on unpredictability and hindsight bias. As the core message of trend following is "follow, don't predict".

Narrator is fine. And it was good to hear Covel's interviews with various market participants and analysts in the 3rd part.

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  • MrKenO
  • 19-03-2019

Lives Up To Expectations

The reference book on Trend Following. Learn and observe and take action. Thank you Mr Covel.