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More About This Title The Little Book of Trading: Trend Following Strategy for Big Winnings
English
The last decade has left people terrified of even the safest investment opportunities. This fear is not helping would-be investors who could be making money if they had a solid plan. The Little Book of Trading teaches the average person rules and philosophies that winners use to beat the market, regardless of the financial climate.
The market has always fluctuated, but savvy traders know how to make money in good times and bad. Drawing on author Michael Covel's own trading experience, as well as insights from legendary traders, the book offers sound, practical advice in an easy to understand, readily digestible way. The Little Book of Trading:
- Identifies tools, concepts, psychologies, and philosophies that keep people protected and making money when the next market bubble or surprise crisis occurs
- Features top traders in each chapter that have beaten the market for decades, providing readers with their moneymaking knowledge
- Shows how traders who beat mutual fund performance make money at different times, not just from stocks alone
Most importantly, The Little Book of Trading explains why mutual funds should not be the investment vehicle of choice for people looking to secure retirement, a radical realization highlighting the changed face of investing today.
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Michael W. Covel serves as President of Trend Following (www.trendfollowing.com), a privately owned research firm. His first book is Trend Following: Learn to Make Millions in Up or Down Markets, and his second is The Complete TurtleTrader. He also founded TurtleTrader.com® in 1996, and since then, it has grown into an internationally recognized archive of trading information and data visited by over 10 million users. His first documentary film—Broke: The American Dream, about the 2007–2009 crash—was released in 2009 and premiered on The Documentary Channel.
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Introduction: A Wake-Up Call xiii
Foreword xxiii
Cole Wilcox
Foreword xxxiii
Cullen O. Roche
Chapter One Stick to Your Knitting 1
Gary Davis, Jack Forrest, and Rick Slaughter
Chapter Two Someone’s Gotta Lose for You to Win 21
David Druz
Chapter Three No Guts, No Glory 37
Paul Mulvaney
Chapter Four In a Land Far, Far Away from Wall Street 53
Kevin Bruce
Chapter Five Think Like a Poker Player and Play the Odds 65
Larry Hite
Chapter Six Stand Up, Dust Yourself Off, and Keep Going 83
David Harding
Chapter Seven Throw Away the Fundamentals and Stick to Your Charts 103
Bernard Drury
Chapter Eight Study Hard and Get an A+ 117
Justin Vandergrift
Chapter Nine You Can’t Know Everything 131
Eric Crittenden and Cole Wilcox
Chapter Ten Make It Work Across All Markets 147
Michael Clarke
Chapter Eleven Stay in the Moment of Right Now 163
Charles Faulkner
Chapter Twelve Sing the Whipsaw Song 181
Appendix A: Getting Technical: What is Capitalism Distribution? 187
Appendix B: Fund Performance Data 193
Glossary of Key Terms 201
Author Disclaimer 207
Acknowledgments 209
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—Addison Wiggin, Best-selling author ofDemise of the Dollar; Executive Publisher, Agora Financial, LLC
“In The Little Book of Trading, Michael Covel has collected many gems of wisdom from some of the great traders of our time. After reading this book and piecing together all of the commonalities therein, you’ll begin to understand what it takes to be successful in the markets. Ignore these key truths and one day you’ll watch your account disappear.”
—Van K. Tharp, Ph.D., President, The Van Tharp Institute.
“Michael Covel’s unique insight into trading is invaluable. Both novice and experienced traders can benefit from Michael’s thorough knowledge of markets around the globe. The Little Book of Trading is a must read for serious investors.”
—Louis G. Navellier, Chairman and Founder, Navellier & Associates, Inc.
“Imagine being in the circle of trust of some of the greatest traders of all time, knowing what made them successful and having them share heartfelt advice. Though the eyes of Michael Covel in The Little Book of Trading, you will truly feel this experience.”
—Murray A. Ruggiero Jr., Contributing Editor, Futures Magazine; VP Research and Development, TradersStudio Inc.
“Michael Covel’s Little Book of Trading is a must-read guide to help you succeed in the shark-infested waters of the investment world.”
—From the Forward, Cullen O. Roche, Founder and CEO, Orsus Investments, LLC; Proprietor of Pragmatic Capitalism
“The latest addition to the ‘little book big profits’ series, Michael W. Covel’s The Little Book of Trading: Trend Following Strategy for Big Winnings looks at the financial world through the eyes of successful trend traders … What Covel stresses throughout the book are the accompanying principles that make trend following viable: stick to your plan and manage your risk through diversification, stop placement, and position sizing. These are important principles for any kind of trading, but for trend following they are critical … Successful trend following traders try to capture the outliers, the really big moves that more than compensate for the many small losses they take. This goal requires traders to have confidence in their systems and confidence in themselves. By introducing the reader to successful trend traders, Covel believes that some of their ‘magic’ just might rub off.”
—Seeking Alpha
