---
product_id: 61361253
title: "Trend Following, 5th Edition: How to Make a Fortune in Bull, Bear and Black Swan Markets"
price: "€ 10.56"
currency: EUR
in_stock: true
reviews_count: 9
url: https://www.desertcart.fi/products/61361253-trend-following-5th-edition-how-to-make-a-fortune-in
store_origin: FI
region: Finland
---

# Trend Following, 5th Edition: How to Make a Fortune in Bull, Bear and Black Swan Markets

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## Description

desertcart.com: Trend Following, 5th Edition: How to Make a Fortune in Bull, Bear and Black Swan Markets (Audible Audio Edition): Michael W. Covel, Joel Richards, Michael Covel, Trend Following: Books

Review: You don't get it!!! - I usually don't write book reviews as I don't like to feed the mass hysteria, but I had to pay my respects to Mike without whom I would have been still stuck working for the man and would have lost whatever was left after the 2008 fiasco. I stumbled upon Turtle traders sometime in 2009 after losing more than half of my wealth in 2008. Before coming to a conclusion on how awful investor I would have been, I would like to tell that I had years of experience working in Investment banks and had pretty good idea of the markets and drank the same cool aid which my fellow traders drank. But unlike the big banks I didn't have the government save me when sh*t hit the fan. Now 9 years later, thanks to Mike and his books, I trade in 30 different markets while staying on a small island (literally) where nothing interesting happens. Due to him I was able to cut out the noise. I am not on Facebook, Twitter, Instagram, Reddit or any other mass hysteria channels. I don't watch CNBC or Bloomberg, unless there is nothing interesting on Netflix to watch and I need some entertainment. I made more money in times when everyone was bleeding and just to test my models even traded cryptos and made a bloody fortune there as well. What people don't get is that this book is not a handbook of trading. It is more like a map which will help you develop the thought process to become a system trader. Our problem today is we want handouts, ready formulae for milking the cash cow. But that's not how the world works. No one will give you their money making formula in a book. You have to go out and figure it out yourself. What this book can help you is to figure out the right path. The interviews in the new edition is pure gold. If you know what those legendary traders are saying, you will know they are giving out the secret in plain words, its up to the reader to comprehend. Finally I would like to say this book is like The Bible. Some people think its a storybook, some get inspired and some find God. P.S: I know many of the reviews book is not actionable and its true coz its not supposed to be actionable. Now if you decided to take the red pill and go down the rabbit hole, its going to take a lot of hard work. First thing (and the most difficult one) will be to throw out all your beliefs and start from scratch. Brush up or learn more about Statistics and Probability (tons of books and free courses out there) which is absolutely necessary. Learn more about Game Theory which I feel is very important. Then if you are still alive and want to get some more, I suggest these books for further reading 1. Thinking, Fast and Slow This is the base of Trend Following, understanding human behaviour. 2. Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts How to make decisions when you have limited variables you can control and no whatsoever no control on the outcome. 3. Trend Following with Managed Futures: The Search for Crisis Alpha (Wiley Trading) A book by Chief Scientist of ISAM and legendary Trend Follower which will be your induction to the world of Managed Futures 4. Following the Trend: Diversified Managed Futures Trading (Wiley Trading) A wonderful read on actual Trend Following 5. Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals (Wiley Trading) This one gets bit technical but this is the real deal. This book will dissect TA and help you decide how to evaluate strategies. This is a no BS book but you should be open to receive the knowledge 6. Trading Systems: A New Approach to System Development and Portfolio Optimisation This one is bit old but this one helped me a lot when I was building up my first system and the methods still hold good and will continue to hold good for any person starting out on the journey.
Review: Covel hits a Home Run: Fun, Inspiring & Enlightening - Covel transcends the norm with this thought provoking look into the mind of truly remarkable free-thinker. Trading books have a tendency to repeat the basics while providing bland filler devoid of substance. Covel breaks this trend by infusing every page with insightful famous quotes that carry lessons through all aspects of approaching life. Instead of subjective "faith based" rule giving, Covel dives deep into objective analytical research into not only how top institutional traders think, but the specific strategies and methods they use. This Trend Following market theory is coupled with details on provable and testable trading methods that have worked for decades. Traders of all types can benefit from the Trend Following principles and mentality propagated by this book + the lessons learned can be adapted to enhance any trading style. By the end of the book, you will surely be held, above the rest, in a cloud of direct rationality that allows you to look down at the sea of chaotic trading advice with clarity and precision. A+++

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## Customer Reviews

### ⭐⭐⭐⭐⭐ You don't get it!!!
*by A***M on May 31, 2018*

I usually don't write book reviews as I don't like to feed the mass hysteria, but I had to pay my respects to Mike without whom I would have been still stuck working for the man and would have lost whatever was left after the 2008 fiasco. I stumbled upon Turtle traders sometime in 2009 after losing more than half of my wealth in 2008. Before coming to a conclusion on how awful investor I would have been, I would like to tell that I had years of experience working in Investment banks and had pretty good idea of the markets and drank the same cool aid which my fellow traders drank. But unlike the big banks I didn't have the government save me when sh*t hit the fan. Now 9 years later, thanks to Mike and his books, I trade in 30 different markets while staying on a small island (literally) where nothing interesting happens. Due to him I was able to cut out the noise. I am not on Facebook, Twitter, Instagram, Reddit or any other mass hysteria channels. I don't watch CNBC or Bloomberg, unless there is nothing interesting on Netflix to watch and I need some entertainment. I made more money in times when everyone was bleeding and just to test my models even traded cryptos and made a bloody fortune there as well. What people don't get is that this book is not a handbook of trading. It is more like a map which will help you develop the thought process to become a system trader. Our problem today is we want handouts, ready formulae for milking the cash cow. But that's not how the world works. No one will give you their money making formula in a book. You have to go out and figure it out yourself. What this book can help you is to figure out the right path. The interviews in the new edition is pure gold. If you know what those legendary traders are saying, you will know they are giving out the secret in plain words, its up to the reader to comprehend. Finally I would like to say this book is like The Bible. Some people think its a storybook, some get inspired and some find God. P.S: I know many of the reviews book is not actionable and its true coz its not supposed to be actionable. Now if you decided to take the red pill and go down the rabbit hole, its going to take a lot of hard work. First thing (and the most difficult one) will be to throw out all your beliefs and start from scratch. Brush up or learn more about Statistics and Probability (tons of books and free courses out there) which is absolutely necessary. Learn more about Game Theory which I feel is very important. Then if you are still alive and want to get some more, I suggest these books for further reading 1. Thinking, Fast and Slow This is the base of Trend Following, understanding human behaviour. 2. Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts How to make decisions when you have limited variables you can control and no whatsoever no control on the outcome. 3. Trend Following with Managed Futures: The Search for Crisis Alpha (Wiley Trading) A book by Chief Scientist of ISAM and legendary Trend Follower which will be your induction to the world of Managed Futures 4. Following the Trend: Diversified Managed Futures Trading (Wiley Trading) A wonderful read on actual Trend Following 5. Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals (Wiley Trading) This one gets bit technical but this is the real deal. This book will dissect TA and help you decide how to evaluate strategies. This is a no BS book but you should be open to receive the knowledge 6. Trading Systems: A New Approach to System Development and Portfolio Optimisation This one is bit old but this one helped me a lot when I was building up my first system and the methods still hold good and will continue to hold good for any person starting out on the journey.

### ⭐⭐⭐⭐⭐ Covel hits a Home Run: Fun, Inspiring & Enlightening
*by M***E on January 29, 2019*

Covel transcends the norm with this thought provoking look into the mind of truly remarkable free-thinker. Trading books have a tendency to repeat the basics while providing bland filler devoid of substance. Covel breaks this trend by infusing every page with insightful famous quotes that carry lessons through all aspects of approaching life. Instead of subjective "faith based" rule giving, Covel dives deep into objective analytical research into not only how top institutional traders think, but the specific strategies and methods they use. This Trend Following market theory is coupled with details on provable and testable trading methods that have worked for decades. Traders of all types can benefit from the Trend Following principles and mentality propagated by this book + the lessons learned can be adapted to enhance any trading style. By the end of the book, you will surely be held, above the rest, in a cloud of direct rationality that allows you to look down at the sea of chaotic trading advice with clarity and precision. A+++

### ⭐⭐⭐⭐⭐ Great book
*by T***P on September 27, 2017*

Great book. I recommend the readers of this book also read my book Profit from bull, bear and sideway markets . Its main strategy is a simple but profitable trend following. It is price-based concentrating on price movements and ignoring fundamentals. It shows you ‘HOW’ with step-by-step instructions starting with simplest SMA-50 with no charting - a free site calculates it for you. Then it includes SMA-200 and optionally other technical indicators such as RSI(14), MACD, Bollinger Band and Double Tops. All are available free from the internet. My other short-term strategies, Sector Rotation and Momentum Investing, are also included in this book. Sector Rotation has 12 strategies from simple market timing, rotation of several sectors to top-down investing. Momentum strategies include contrarian, headline, earnings, short squeeze, year end, turnaround… It has over 370 pages (6*9). Check out the extensive Table of Contents. All chapters are practical and useful. Hence it is harder to read and you need to try out some techniques discussed. It is written in 10/2017. It has been the updated with the current market events and today's available tools. It represents my many decades in investing and hundreds of books on trading. I only include those strategies that would work in today’s market. This book is for both beginners and experts.

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*Product available on Desertcart Finland*
*Store origin: FI*
*Last updated: 2026-03-16*