Trend following is an investment strategy which tries to take advantage of long, medium and short-term moves that seem to play out in various markets. The strategy aims to work on the market trend mechanism and take benefit from both sides of the market, enjoying the profits from the ups and downs of the stock or futures markets. Traders who use this approach can use current market price calculation, moving averages and channel breakouts to determine the general direction of the market and to generate trade signals (Forex Signals). Traders who employ a trend following strategy do not aim to forecast or predict specific price levels; they simply jump on the trend and ride it. Due to the different techniques and time frames employed by trend followers to identify trends, trend followers as a group are not always correlated to one another.

Trend following is most commonly associated with Commodity Trading Advisors as the predominant strategy of technical traders. Dr. Galen Burghardt, an adjunct professor at the University of Chicago's Booth School of Business, researched the relative impact of trend following funds in the CTA business. By tracking a subset of trend following CTAs and comparing that subset them with a broader CTA index (from the period 2000-2009), Dr. Burghardt measured a correlation of .97 between the two groups, showing how large the impact of trend following is in the CTA business.

Definition[link]

Trend following is an investment or trading strategy which tries to take advantage of long, medium or short-term moves that seem to play out in various markets. Traders who employ a trend following strategy do not aim to forecast or predict specific price levels; they simply jump on the trend (when they perceived that a trend has established with their own peculiar reasons or rules) and ride it. These traders normally enter in the market after the trend "properly" establishes itself, betting that the trend will persist for a long time,and, for this reason, they ignore the initial turning point profit. A market "trend" is a tendency of a financial market price to move in a particular direction over time. If there is a turn contrary to the trend, they exit and wait until the turn establishes itself as a trend in the opposite direction. In case their rules signals an exit, the trader exits but re-enters when the trend re-establishes.

Cutting Loss. Exit market when market turn against them to minimize losses, and "let the profits run", when the market trend goes as expected until the market exhausted and reverses to book profit.

This trading or "betting with positive edge" method involves a risk management component that uses three elements: number of shares held, the current market price, and current market volatility. An initial risk rule determines position size at time of entry. Exactly how much to buy or sell is based on the size of the trading account and the volatility of the issue. Changes in price may lead to a gradual reduction or an increase of the initial trade. On the other hand, adverse price movements may lead to an exit for the entire trade.

These traders normally enter in the market after the trend properly establishes itself, and, for this reason, they ignore the initial turning point profit.

If there is a turn contrary to the trend, these systems signal a pre-programmed exit or wait until the turn establishes itself as a trend in the opposite direction. In case the system signals an exit, the trader re-enters when the trend re-establishes.

In the words of Tom Basso, in the book Trade Your Way to Financial Freedom^[1]

Considerations[link]

• Price: One of the first rules of trend following is that price is the main concern. Traders may use other indicators showing where price may go next or what it should be but as a general rule these should be disregarded. A trader need only be worried about what the market is doing, not what the market might do. The current price and only the price tells you what the market is doing.

• Money management: Another decisive factor of trend following is not the timing of the trade or the indicator, but rather the decision of how much to trade over the course of the trend.

• Risk control: Cut losses is the rule. This means that during periods of higher market volatility, the trading size is reduced. During losing periods, positions are reduced and trade size is cut back. The main objective is to preserve capital until more positive price trends reappear.

• Rules: Trend following should be systematic. Price and time are pivotal at all times. This technique is not based on an analysis of fundamental supply and demand factors.

Q&As[link]

Trend following strategy answers the questions:

• What Market Do You Buy or Sell at Any Time?
• How Much of a Market Do You Buy or Sell at Any Time?
• When Do You Buy or Sell a Market?
• When Do You Get Out of a Losing Position?
• When Do You Get Out of a Winning Position?^[2]

Example[link]

A trader would identify a security to trade (currencies/commodities/financials) and would come up with a preliminary strategy, such as^[3]:

• Commodity: soybean oil
• Trading approach: long and short alternatively.
• Entrance: When the 50 period simple moving average (SMA) crosses over the 100 period SMA, go long when the market opens. The crossover suggests that the trend has recently turned up.
• Exit: Exit long and go short the next day when 100 period SMA crosses over 50 period SMA. The crossover suggests that the trend has turned down.
• Stop loss: Set a stop loss based on maximum loss acceptable. For example if the recent, say 10 day, Average True Range is 0.5% of current market price, stop loss could be set at 4x0.5% = 2%.

The trader would then backtest the strategy, using actual data and would evaluate the strategy. The simulator would generate estimated number of trades, the fraction of winning/losing trades, average profit/loss, average holding time, maximum drawdown, and the overall profit/loss. The trader can then experiment and refine the strategy. Care must be taken, however, to avoid over-optimization.

It is possible that a majority of the trades may be unprofitable, but by "cutting the losses" and "letting profits run", the overall strategy may be profitable. Trend trading is most effective for a market that is quiet (relative low volatility) and trending. For this reason, trend traders often focus on commodities, which show a stronger tendency to trend than on stocks, which are more likely to be mean reverting (which favors swing traders).

Notes and references[link]

1. ^ Tharp, Van K. (1998). Trade Your Way to Financial Freedom. 83: McGraw-Hill. ISBN 0-07-064762-3. 
2. ^ Covel, Michael W. (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets. FT Press; 1 Updated edition (February 25, 2009). ISBN 0-13-702018-X.
3. ^ Covel, Michael W. (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets. FT Press; 1 Updated edition (February 25, 2009). ISBN 0-13-702018-X.

External links[link]

• LearnTrendFollowing.com - Explore the trading principles of Trend Following Systems
• TF-SYS.com - See examples of Trend Following with common systems and their rules
• Automated Trading and Trend Following
• Trend Following Wizards Monthly reporting of major CTAs and Fund managers involved in Trend Following
• Trend Following Coaching and Systems
• Trends In Chaos - ETF trend trading made simple
• A trend following strategy for the DAX index
• ETF Market Timing Service, Trend Following
• Market Trends Finder
• A technical indicator for trend following
• Backtested technical indicator simulations
• A free Metatrader4 Indicator that implements the original Turtle Trading System

Further reading[link]

• Brown, Kedrick (2006). Trend Trading: Timing Market Tides. John Wiley & Sons, Inc.. ISBN 0-471-98021-8. 
• Covel, Michael W. (2007). Trend Following: How Great Traders Make Millions in Up or Down Markets, New Expanded Edition. Financial Times Prentice Hall (March 19, 2007). ISBN 0-13-613718-0. 
• Covel, Michael W. (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets. FT Press; 1 Updated edition (February 25, 2009). ISBN 0-13-702018-X. 
• Covel, Michael W. (2007). The Complete TurtleTrader: The Legend, the Lessons, the Results. Collins (October 9, 2007). ISBN 0-06-124170-9. 
• Covel, Michael W. (2009). The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires. Collins Business (February 24, 2009). ISBN 0-06-124171-7. 
• Faith, Curtis M. (2007). Way of the Turtle:The Secret Methods that Turned Ordinary People into Legendary Traders. McGraw-Hill. ISBN 0-07-148664-X. 
• Markman, John D. (2003). Swing Trading: Power Strategies to Cut Risk and Boost Profits. ISBN 0-471-20678-4. 
• Seykota, Ed (August 2006). "How to determine the trend". FAQ. http://www.seykota.com/tribe/TSP/Trends/index.htm. Retrieved 2006-08-21. 
• Tate, Christopher (March 2001). The Art of Trading. ISBN 1-876627-63-8. 

See also[link]

• Don't fight the tape

Techniques:

• Electronic trading
• Algorithmic Trading Platforms
• Day trading
• Stock market cycles

Related phenomena:

• Chart pattern
• Information cascade
• Noise trader
• Keynesian beauty contest
• Herd behavior

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This biographical article needs additional citations for verification. Please help by adding reliable sources. Contentious material about living persons that is unsourced or poorly sourced must be removed immediately, especially if potentially libelous or harmful. (August 2008)

Edward Arthur Seykota (born August 7, 1946) is a commodities trader, who earned S.B. degrees in Electrical Engineering from MIT and Management from the MIT Sloan School of Management, both in 1969. In 1970 he pioneered Systems trading by using early punched card computers to test ideas on trading the markets. Seykota resides in Incline Village-Crystal Bay, Nevada, on the north shore of Lake Tahoe.

Career[link]

As a young man he attended high school near The Hague, Netherlands and also lived in Voorburg.

Trading methods[link]

Seykota is a trader who in 1970 pioneered a computerized trading system (now known as System trading) for the futures market for the brokerage house he and Michael Marcus were working for. Later, he decided to venture out on his own and manage a few of his client's accounts.

Much of Seykota's success was attributed to his development and utilization of computerized trading systems to which he first tested on a mainframe IBM computer. Later on, the brokerage house he had been working for adopted his system for their trades.

His interest in creating a computerized system was spawned after he read a letter by Richard Donchian on utilizing mechanical trend following systems for trading and also Donchian's 5 and 20 day moving average system. He was also inspired by the book Reminiscences of a Stock Operator by Edwin Lefèvre. His first trading system was developed based on exponential moving averages.

Ed Seykota, Market Wizards

Seykota improved this system over time, adapting the system to fit his trading style and preferences. With the initial version of the system being rigid, he later introduced more rules into the system in addition to pattern triggers and money management algorithms.

Another aspect of his success was his genuine love for trading and his optimistic demeanour. This factor sustained his efforts to continuously improve on his system although he never changed the response indicators of the system and instead fine tuned market stimuli.

Influence[link]

Some of Ed's students have included Michael Marcus, David Druz, Dean Giordano, Jason Dekker, and Jason Russell of Salida Capital^[1]

Trader, instructor, and blogger Michael Martin is known to be one of Ed's proteges as well.^[2]

Controversial claims concerning physics[link]

Seykota maintains a website in which, while he does not deny the validity of the Bernoulli principle, he considers it to be misapplied, claiming that these misapplications are bad physics. Seykota refers to his theory as the theory of radial momentum. He writes:

The classic theory of airplane lift is all about wing curvature ... and that, according to Bernoulli's Principle, fast-flowing air has lower pressure. In 1997, after pondering this matter for some twenty years, Ed Seykota concludes that lift has nothing at all to do with Bernoulli's Principle ... rather, lift is a function of Radial Momentum ... the radial fanning out of a fluid lowers its density ... and therefore, the pressure decreases with the distance from the center of radiation.

Seykota's theory is controversial and as a consequence he receives a lot of criticism.

Notes[link]

This section is empty. You can help by adding to it.

References[link]

1. ^ Covel, Michael (January 13, 2006). "Learn from these up and coming traders". The Connors Group. http://www.tradingmarkets.com/.site/swingtrading/commentary/trendfollower/01132006-48645.cfm. Retrieved 2006-11-17. 
2. ^ Covel, Michael. "Trend Following". Trend Following: pp. 64. 

• Elbe, Susan (October 11, 2000). "Seykota expects "No Excuses" for reading proficiency". Zephyr staff. University of Nevada, Reno. http://www.jour.unr.edu/educate/elbe.trusteesseykota.html. Retrieved 2006-09-04. 
• Troseth, Eric (October 20, 2003). "Can you forecast the market?". Work & Money (The Christian Science Monitor). http://www.csmonitor.com/2003/1020/p13s01-wmgn.html. Retrieved 2006-09-04. 
• Seykota, Ed; Dave Druz (March 1993). "Determining Optimal Risk". Stocks & Commodities magazine. http://traderscom.stores.yahoo.net/-v11-c03-determi-pdf.html. Retrieved 2006-09-04. 

Magazines[link]

• Seykota, Ed (March 1991). "MACD: sweet anticipation?". Futures magazine. http://www.allbusiness.com/technology/computer-software/154988-1.html. Retrieved 2006-08-23. 
• Hartle, Thom (August 1992). "Ed Seykota Of Technical Tools". Stocks & Commodities magazine. http://traderscom.stores.yahoo.net/-v10-c08-edseyko-pdf.html. Retrieved 2006-09-05. 
• Collins, Daniel P. (November 2001). "Turtles hatch". Futures magazine. http://www.allbusiness.com/personal-finance/investing-trading-futures/822658-1.html. Retrieved 2006-08-23. 

External links[link]

Wikiquote has a collection of quotations related to: Ed Seykota

• "Seykota's official home page". 2006. http://www.seykota.com. Retrieved 2006-09-04. 
• "Seykota's Trading Tribe website". 2006. http://www.tradingtribe.com. Retrieved 2006-09-04. 
• "Seykota's Bernoulli challenge website". 2006. http://www.radialmomentum.com. Retrieved 2006-09-04. 
• "Listing Seykota's "theory of radial momentum"". 2006. http://www.crank.net/antigravity.html. Retrieved 2006-09-04. 
• "Brief biography". Profile. Master Mind Trader. 2006. http://www.mastermindtrader.com/Ed_Seykota.html. Retrieved 2006-04-12. 
• "Curated Alpha: Curated Interview With Ed Seykota From Market Wizards". http://www.curatedalpha.com/2011/curated-interview-with-ed-seykota-from-market-wizards/. 

Further reading[link]

• Schwager, Jack D. (1993). Market Wizards: Interviews with Top Traders. Collins. ISBN 0-88730-610-1. 
• Covel, Michael W. (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets. FT Press. ISBN 0-13-702018-X. 

The neutrality of this article is disputed. Please see the discussion on the talk page. Please do not remove this message until the dispute is resolved. (December 2011)

Gerald Celente (born November 29, 1946) is an American trend forecaster,^[1][2] publisher of the Trends Journal, business consultant^[3] and author who makes predictions about the global financial markets and other events of historical importance. Celente has described himself as a "political atheist" and "citizen of the world".^[4] He has appeared as a guest on television news shows such as The Oprah Winfrey Show, The Today Show, Good Morning America, CBS Morning News, The Glenn Beck Show, NBC Nightly News, The Alex Jones Show and Russia Today.^[5][6][7]

Background[link]

Celente was born in The Bronx, New York City, New York. He had early political experience running a mayoral campaign in Yonkers, New York and served as executive assistant to the secretary of the New York State Senate, which Celente called the worst job he ever had.^[8] From 1973 to 1979 Celente traveled between Chicago and Washington D.C. as a government affairs specialist.^[8] In 1980 Celente founded The Trends Research Institute (at first called the Socio-Economic Research Institute of America), now located in Kingston, New York, publisher of the Trends Journal which forecasts and analyzes business, socioeconomic, political, and other trends.^[9]

Forecasting[link]

His forecasts since 1993 ^[10] have included predictions about terrorism, economic collapses and war. More recent forecasts involve fascism in the United States, food riots and tax revolts.^{[3][11][12][13][14][15]} Celente has long predicted global anti-Americanism, a failing economy and immigration woes in the U.S.^[11] In December 2007 Celente wrote, "Failing banks, busted brokerages, toppled corporate giants, bankrupt cities, states in default, foreign creditors cashing out of US securities ... whatever the spark, the stage is set for panic in the streets" and "Just as the Twin Towers collapsed from the top down, so too will the U.S. economy ... when the giant firms fall, they’ll crush the man on the street." He has also predicted tax revolts.^[16][17] In November 2008 Celente appeared on Fox Business Network and predicted economic depression, tax rebellions and food riots in the United States by 2012.^[18] Celente also predicted an "economic 9/11" and a "panic of 2008."^[19]

In 2009 Celente predicted turmoil which he described as "Obamageddon" and he was a popular guest on conservative cable-TV shows such as Fox News Sunday and Glenn Beck's television program.^[6] In April 2009 Celente wrote, "Wall Street controls our financial lives; the media manipulates our minds. These systems cannot be changed from within. There is no alternative. Without a revolution, these institutions will bankrupt the country, keep fighting failed wars, start new ones, and hold us in perpetual intellectual subjugation."^[20] He appeared on the Glenn Beck show and criticized the U.S. stimulus plan of 2009, calling government controlled capitalism "fascism" and saying shopping malls in the U.S. would become "ghost malls."^[21] Celente has said, "smaller communities, the smaller groups, the smaller states, the more self-sustaining communities, will 'weather the crisis in style' as big cities and hypertrophic suburbias descend into misery and conflict," and forecasts "a downsizing of America."^[14]

Revolution in the USA[link]

On Russia Today, he predicted that the USA would face a revolution.^[22]

Neosurvivalism[link]

Celente's website has stated that:

Predictions[link]

2009[link]

"The Crash of '09 was as dramatic as the crash of '29. The New Depression had begun." (Trends Journal, Summer 2008, pg. 12)

2010[link]

Some areas of the U.S. are experiencing resurgences in real estate values due to highly localized factors, and some investors profit from this. However, the rises will almost all stop and reverse with time, and the overall national trend in real estate values is downward. (T.J. Summer 08, pg. 8)

Ghost malls have become a common sight across America. Especially hard-hit are big chain stores (Sears, Home Depot, etc.). (T.J. Summer 08, pg. 8)

2011[link]

Developers have begun rehabbing some of the ghost malls for more productive uses. (T.J. Summer 08, pg. 9)

2012[link]

The economic policies of the U.S. government over the past few years have failed to fix America's fundamental problems and have merely papered over them and in fact made them worse. By 2012, the "American Empire" is collapsing. In the U.S., basic staple goods like quality food and water are too expensive for most people to afford,(T.J. Summer 08, pg. 1) and "food riots" happen across the country (T.J. Summer 09, pg.1). Major American cities look like disaster zones, and mass homelessness exists across the country. Crime is rampant, with much of it being directed at the rich. (T.J. Summer 08, pg. 1) Kidnappings and ransomings of rich people are on the rise. Average people fed up with big government, high taxes and out-of-control spending join tax revolts. (T.J. Summer 09, pg. 1) The world is also experiencing major environmental problems and "the blackest of plagues." The global financial system has also "melted down" and the situation is very bad outside the U.S.(T.J. Summer 08, pg. 1) The advanced industrial economies collapse first, and their sagging consumer spending drags down the export-based economies of emerging economies next.(T.J. Summer 09, pg. 2) The economy is as bad as it was during the Great Depression in many ways. In spite of all this, the U.S. government, power elites, and mainstream media continue to insist that the fundamentals of the world economy are sound, and that official policies can lead to a recovery. A growing number of average people, however, doubt this. (T.J. Summer 08, pg. 1)

While the Mayan and Hopi prophecies of global destruction do not come to pass, 2012 is indeed a watershed year that sees the death of an ailing and unsustainable global economic system and lifestyle and its replacement with something better. (T.J. Summer 08, pg. 2)

By 2012, Obama is viewed by most as a stale president who sold himself as a fresh, visionary candidate in 2008 and instead proved to be a servant of the big corporations and the military-industrial complex like his predecessors.(T.J. Summer 09, pg. 5) His economic policies only delayed disaster and in fact have made the situation worse: Expansionary monetary policy and the various government bailouts and stimulus programs create a "Bailout Bubble" that invariably bursts in a cataclysm for the U.S. and world economy.(T.J. Summer 09, pg. 11) Obama blames other factors for this and might have even tried to start a war by 2012 to distract attention from the domestic misery.(T.J. Summer 09, pg. 12) Obama's foreign policy has also failed to accomplish anything significant on the world stage, and Pakistan is a mess and the Afghan war continues to drag on without hope of conclusion.(T.J. Summer 09, pg. 12)

In the 2012 U.S. elections, online news sites, bloggers and independent journalists wield as much influence on voters as mainstream media outlets (TV, cable, magazines, newspapers) for the first time. This breaks the corporate and moneyed stranglehold on American politics and allows a third party to attain nation-level recognition. (T.J. Summer 08, pg. 5)

Broad future trends[link]

Americans will adapt to lower standards of living and will travel less, both on a daily basis and for vacations. Higher fuel costs, advances in telecommuting and an aging American population will push many more people to work from home or close to home. Walking-distance communities will be constructed and will become popular. (T.J. Summer 08, pg. 7)

Geographically isolated resort destinations like Las Vegas will wither due to higher fuel costs, lower American incomes and increased overseas competition while vacation spots closer to population centers will revive. (T.J. Summer 08, pg. 9)

Government-run lotteries, on the other hand, will thrive. (T.J. Summer 08, pg. 9)

In America and to a lesser extent overseas, consumer spending habits will be motivated out of fear and escapism. Businesses that capitalize upon this will succeed. (T.J. Summer 09, pg. 24)

Publications[link]

• Trend Tracking: The System to Profit from Today's Trends (1991), ISBN 978-0446392877
• Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century (1997), ISBN 978-0446519014
• What Zizi Gave Honeyboy: A True Story about Love, Wisdom, and the Soul of America (2002), ISBN 978-0066212661

References[link]

External links[link]

• trendsresearch.com
• geraldcelente.com

Michael Covel is an author and film director. In 1996, he co-founded the website TurtleTrader.com, an online resource for trend following writing, news, and information.^[1] Covel’s first book was 'Trend Following: How Great Traders Make Millions in Up or Down Markets' (FT Press, April 2004, Nov. 2005, Mar. 2007, Mar. 2009) featuring traders David Harding (mathematician), John W. Henry, Ed Seykota, Richard Donchian, Jesse Lauriston Livermore and Larry Hite among others.^[2] His second book, 'The Complete TurtleTrader: The Legend, the Lessons, the Results' (Collins, Oct. 2007, Feb. 2009) chronicles a trading experiment by legendary trader Richard Dennis. His third book is 'Trend Commandments: Trading for Exceptional Returns' (FT Press, June 24, 2011). His fourth book is 'The Little Book of Trading: Trend Following Strategy for Big Winnings' (Wiley, August 9, 2011).

Biography[link]

Michael Wesley Covel was born September 1, 1968 in Quantico, Virginia. Covel graduated with a B.A. from George Mason University (Fairfax, Virginia). He received a M.B.A. at Florida State University (Tallahassee, Florida).

Career[link]

'The Complete TurtleTrader: The Legend, the Lessons, the Results' (Collins, October 2007) examines nurture versus nature by reviewing an experiment conducted by Richard Dennis and then partner William Eckhardt in 1983.^[3] Covel writes about the Turtles’^[4] who were a group of Wall Street novices turned into top traders, based on the philosophy and rules set forth by Richard Dennis. The ‘Turtles’ were taught to think of themselves “first as scientists and second as traders.”^[5]

Trend Following[link]

Covel’s first book, “'Trend Following: How Great Traders Make Millions in Up or Down Markets' breaks down the concepts and practices of trend following.^[6] He also reinforces the most vital rule in trading; to follow a system based on following market price trends.

Broke: The New American Dream[link]

Covel directed the documentary film “Broke: The New American Dream” touches on many of today’s major economic themes.’^[7] The film focuses on the harsh reality of the 2008 housing collapse, current stock-market volatility, and recent growing economic uncertainty.^[8]

Critical Responses[link]

Critics of Covel point out that his studies do not address survivorship bias. Covel's response: "Is there anything to learn from the numerous winning trend following traders, or do you view them as just lucky monkeys whose darts happened to hit all bull's-eyes for decades? This is the fork in the road for you: luck or skill."^[9]

Published works[link]

• Covel, Michael (2004). Trend Following: How Great Traders Make Millions in Up or Down Markets (FT Press, April 23,(2004). ISBN 0-13-144603-7 (English) ISBN 978-0-13-144603-8 (English)
• Covel, Michael (2005). Trend Following: How Great Traders Make Millions in Up or Down Markets (FT Press, May 2004 and Nov. 2005 Expanded Edition). ISBN 0-13-134550-8 (English) ISBN 978-0-13-134550-8 (English)
• Covel, Michael (2007). Trend Following: How Great Traders Make Millions in Up or Down Markets, New Expanded Edition (FT Press; Expanded edition, March 19, 2007). ISBN 0-13-613718-0 (English) ISBN 978-0-13-613718-4 (English)
• Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (FT Press; 1 Updated edition, February 25, 2009). ISBN 0-13-702018-X (English) ISBN 978-0-13-702018-8 (English)
• Covel, Michael (2007). Trend Following: How Great Traders Make Millions in Up or Down Markets (Kindle Edition). FT Press; Expanded edition, March 23, 2007. ASIN: B000P28WTY (English)
• Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (Kindle Edition). FT Press; 1 Updated edition, March 3, 2009. ASIN: B001UID8LY (English)
• Covel, Michael (2007). The Complete TurtleTrader: The Legend, the Lessons, the Results (Collins Business, October 9, 2007) ISBN 0-06-124170-9 (English) ISBN 978-0-06-124170-3 (English)
• Covel, Michael (2009). The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires (Collins Business, February 24, 2009) ISBN 0-06-124171-7 (English) ISBN 978-0-06-124171-0 (English)
• Covel, Michael (2011). Trend Commandments: Trading for Exceptional Returns (FT Press, June 24, 2011) ISBN 0-13-269524-3 (English) ISBN 978-0-13-269524-4 (English)
• Covel, Michael (2011). The Little Book of Trading: Trend Following Strategy for Big Winnings (Wiley, August 9, 2011) ISBN 1-118-06350-3 (English) ISBN 978-1-118-06350-7 (English)

Foreign Language Publications[link]

• Covel, Michael (2008). The Complete TurtleTrader (Chinese-Complex Version), Sunbright Publishing Co., February 18, 2008. ISBN 986-154-203-5
• Covel, Michael (2007). Turtle-Trading (German Version), Börsenmedien, December 2007. ISBN 3-938350-48-2 ISBN 978-3938350485
• Covel, Michael (2008). The Complete TurtleTrader (Korean Version), Wisdom House Publishing Co., May 2008. ISBN 978-89-6086-102-2
• Covel, Michael (2009). The Complete TurtleTrader (Japanese Version), Nikkei Business Publications, January 28, 2009. ISBN 978-4-8222-4630-3
• Covel, Michael (2006). Trend Following (Chinese-Simplified Version), Financial Times Prentice Hall, December 1, 2006. ISBN 7-80728-444-7
• Covel, Michael (2006). Trend Following (Arabic Version), November 1, 2006. ISBN 9953-29-793-2
• Covel, Michael (2006). Le Trading Directionnel (French Version), Valor, March 30, 2006. ISBN 2-909356-50-7 ISBN 978-2909356501
• Covel, Michael (2006). Trend Following. Wie erfolgreiche Trader in Hausse und Baisse Millionen machen (German Version), Börsenmedien, February 28, 2006. ISBN 3-938350-08-3 ISBN 978-3938350089
• Covel, Michael (2005). Trend Following (Korean Version), TheNan Publishing Co., November 25, 2005. ISBN 89-8405-324-4
• Covel, Michael (2005). Trend Following (Chinese-Complex Version), Pearson Education Taiwan, October 1, 2005. ISBN 986-154-203-5
• Covel, Michael (2005). Trend Following (Japanese Version), Pan Rolling, January 27, 2005. ISBN 4-7759-7046-1 ISBN 978-4775970461

Foreign Language Published Articles[link]

• Covel, Michael (2005). Yukan Fuji Newspaper, Japan (Japanese).

Further reading[link]

• Hogan, Mike (Nov. 2010). Making the Trend Your Friend, Barrons.
• Torbenson, Eric (Nov. 2008). Why We Shouldn’t Bail Out The Big Three Automakers, New York Post.
• Murali, D. (April 2008). Make the Right Call, The Hindu.
• Steenbarger, Brett (Oct. 2007). Turtle Trading Lessons From Michael Covel, TradeFeeder.
• Pressely, James (Nov. 2007). Bloomberg Review of “The Complete TurtleTrader, ” Bloomberg.com.
• Collins, Art (Nov. 2005). The Truth About The Turtles (Michael Covel Interview), Yahoo! Finance Financial News.
• Cripps, Richard E. (Oct. 2004). Trend Following, Legg Mason Wood Walker, Inc.

Notes[link]

1. ^ Double Your Money, Best Life Magazine, Feb 21, 2007 (p.1).
2. ^ Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (FT Press; 1 Updated edition, February 25, 2009). ISBN 0-13-702018-X (English) ISBN 978-0-13-702018-8 (English).
3. ^ Covel, Michael, The Complete TurtleTrader: The Legend, the Lessons, the Results (Collins, October 2007) ISBN 0-06-124170-9 /ISBN 978-0061241703
4. ^ Steenbarger, Brett,Turtle Trading Lessons From Michael Covel, TradeFeed, October 2007.
5. ^ Covel, Michael, 'The Complete TurtleTrader: The Legend, the Lessons, the Results' (Collins, October 2007) ISBN 0-06-124170-9 /ISBN 978-0061241703
6. ^ Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (FT Press; 1 Updated edition, February 25, 2009). ISBN 0-13-702018-X (English) ISBN 978-0-13-702018-8 (English).
7. ^ Hoenig, Jonathan, New Movie Challenges Biz Pundits, SmartMoney.com, Dec. 2008.
8. ^ Hoenig, Jonathan, New Movie Challenges Biz Pundits, SmartMoney.com, Dec. 2008.
9. ^ Covel, Michael (2011). Trend Commandments: Trading for Exceptional Returns (FT Press, June 24, 2011) ISBN 0-13-269524-3 (English) ISBN 978-0-13-269524-4 (English).

References[link]

• Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (FT Press; 1 Updated edition, February 25, 2009). ISBN 0-13-702018-X (English) ISBN 978-0-13-702018-8 (English)
• Covel, Michael (2009). The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires (Collins Business, February 24, 2009) ISBN 0-06-124171-7 (English) ISBN 978-0-06-124171-0 (English)
• Covel, Michael (2007) The Complete TurtleTrader: The Legend, the Lessons, the Results, (Collins, October 2007) ISBN 0-06-124170-9 /ISBN 978-0061241703
• Official Michael W. Covel Website
• Official 'Broke: The New American Dream Website