Book Review: Michael Covel’s Trend Following (Updated Edition)
Despite the new book cover, Michael Covel’s updated Trend Following book doesn’t horse around. When I received my copy in the mail, my first thoughts were “Ok, here we go again…. another trend trading book…” BUT WAIT! The first 10 pages immediately changed my mindset, in typical Michael Covel fashion. Micahel went straight for the kill, no bull, by saying that this book was not going to teach you any trading strategy in particular, nor was it going to show you how to read charts (or tea leaves). Rather, the book highlights and discusses the most important points that both traders and fund managers tend to overlook when they trade the markets – Trend Following and Price.
Go with the flow or drown in the flood is really the best way to describe what Michael highlights in his book.
If you’re a Market Wizards fan, you’re definitely going to like the interviews and case studies that Michael puts in this book. Just the case studies and interviews conducted by Michael inTrend Following (Updated Edition) is akin to Market Wizards on steroids. There is so much data in this book that an amateur would miss if taken lightly. The case studies, side bar quotes, and the personal stories and philosophy of successful trend followers are extremely good reads and useful in a trader’s business. Fund managers and investors would also find this book a good read, as it explains reasonably well the reason why most lost (a lot of) money in 2008.
Learn more about the book and the other interesting stuff Michael has on his website, http://www.trendfollowing.com/