# Trend Following: Michael Covel



## ceasar73 (23 June 2011)

Great read so far. Any one else read this one?:


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## markhocky (24 June 2011)

Yeah, read it a while ago. One of the first books I read when I started looking into technical/mechanical trading.

I always like reading these sorts of books when I need motivation or inspiration to keep going. Market wizards series by Schwager are brilliant for that too.


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## Frankie (24 June 2011)

Just a quick comment on this idea of “Trend Following”.

When I find a stock that’s in a trend, I like to define what type of trend I’m dealing with. I do this by studying the chart.

Some trends are smooth and steady. Others are wild and volatile.

This helps me work out the type of ride I can expect if I jump on board.

The price action also helps me set my profit and loss targets.


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## explod (24 June 2011)

ceasar73 said:


> Great read so far. Any one else read this one?:




Yep, brought it just after publication and stands as one of the best I have ever read.  

A lot of angles to it but at the most basic for me, looking for flatline stocks at least six months for me, sudden rise of 10% in and trailing stop loss at 5%.   You do not get it all the time but winnning margins beat the losses.

However there is much much more to it all than that and I include fundamental anyalysis as part of my mix too (as I mostly trawl the speckky area).  His web page.

http://www.michaelcovel.com/


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## Frankie (26 June 2011)

When I look for a trend, I start with a weekly chart nowadays. This is how I identify if a stock is actually trending.

I use to start with the daily’s however these charts did not suit my style of trading. One of my goals is to trade in and out of an established trend as long as the trend continues. 

Once I got the concept of Trend Trading (and developed my own trading plan around it) I found it best to study the behaviour of the chart for the stock I was interested in. I did not want to focus on the theory.

BTW, I used to listen to the podcast on itunes by Michael Covel. I found it quite entertaining!


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## jabanico (29 September 2011)

Anyone here tried his courses? His books are not too specific on how to execute strategies.


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## effraye (2 October 2011)

His book is fantastic- Ed Seykota is a great extension on his work in trend following as well.. can't say i have done his course though!


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## banco (3 October 2011)

jabanico said:


> Anyone here tried his courses? His books are not too specific on how to execute strategies.




There's no evidence that he trades his own money.  If you are interested in trend trading you'd get more out of curtis faith's way of the turtle for 1/100th of the price you'd pay for Covel's courses.


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## Joules MM1 (16 August 2012)

twitternated by Covel:

about trend following......
http://www.youtube.com/watch?feature=player_embedded&v=auVyi9lVYhA

it should be noted; Rothstein (in real life) was murdered at a card game


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## mciwd (28 December 2015)

jabanico said:


> Anyone here tried his courses? His books are not too specific on how to execute strategies.




I have tried his course for $3K!  

The worst experience I had in my trading life is to read this book and stupid enough I purchased his trading course for $3000! He guaranteed a refund after 1 year if you are not satisfied, the condition is that you have to try his system for 1 year before you can request for the refund. The course consists of hundreds of recorded Q&A, everyday I just listened to question... answer... question... answer.... It never to the point. I asked for refund after 1 year and of course he did not honour his promises and I just lost $3K and wasted whole year listening to his question... answer... 

If anyone want it, I can sell it to you as this has no use to me at all.


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## CanOz (28 December 2015)

mciwd said:


> I have tried his course for $3K!
> 
> The worst experience I had in my trading life is to read this book and stupid enough I purchased his trading course for $3000! He guaranteed a refund after 1 year if you are not satisfied, the condition is that you have to try his system for 1 year before you can request for the refund. The course consists of hundreds of recorded Q&A, everyday I just listened to question... answer... question... answer.... It never to the point. I asked for refund after 1 year and of course he did not honour his promises and I just lost $3K and wasted whole year listening to his question... answer...
> 
> If anyone want it, I can sell it to you as this has no use to me at all.




Yeah, Covel is a funny sort of punter. He's got no published track record, a few books that were well received, but yet one of the most popular podcasts going....his guest list is pretty impressive. I have no idea how he gets his popularity to carry on...


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## mciwd (10 January 2016)

CanOz said:


> Yeah, Covel is a funny sort of punter. He's got no published track record, a few books that were well received, but yet one of the most popular podcasts going....his guest list is pretty impressive. I have no idea how he gets his popularity to carry on...




No doubt he is a great marketer. 
I challenged him to provide his trading journals, he could never give to me because he never trades.
His material has no entry setup, no disclosure of his full strategy, it's a bunch of crap and a series of questions and answers. He claimed that email support is the major part of his course, so in order to understand his trading strategy, you have to communicate with him via hundreds of email and he will guide you through over the year. 

He promised 1 year refund guarantee but he made up of some silly excuses and not refund to you. You cannot seek refund from your credit card company either because it's already a year passed. 

This is the most rip off course that I ever paid. His website is so secret, there is no forum, no facebook, you can't leave any complains. I feel like this is a scam but I got no where to help.


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