The little book of trading- Michael Covel PDF (Trend Following Strategy for Big Winnings ) introduce you to a way of thinking, to a way of making money that is entirely different from what you have been taught. It varies vastly from what you have heard from the brokerage firms, the media, and the government.. This book is all about trend following trading. Maybe you’ve never heard of it. Trend following is real simple.
Category: Forex
Author: Michael Covel
Language: English
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Introduction
I am going to introduce you to a way of thinking, to a way of making money that is entirely different from what you have been taught. It varies vastly from what you have heard from the brokerage firms, the media, and the government.
First of all, you can leave fundamental analysis at the door. A lot of people are taught that fundamental analysis—knowing a company’s financial statement backwards and forwards in order to know where to invest, and crunching numbers until you’re blue in the face—is the cornerstone of investing. Well, you do not need to know how great the demand will be for the next Apple iPad. You
do not need to know how far gold will go up, or down, or why. The only variable to understand, so you can make money, is to know which way the market is trending, and if you are on board, up or down, you go in that direction.
The little book of trading- Michael Covel PDF is all about trend following trading. Maybe you’ve never heard of it. Trend following is real simple. Pretend you have no idea which way a market will go or for how long. Trend followers simply say that if Apple is trading at 300, and it starts to go higher, they will buy Apple. Why would you do this? If Apple is going up you want to be on board. Period. No one knows how high or low Apple may go, but if it goes from 300 to 400 you don’t want to miss out— even if 300 feels like too high a price to buy in at. Buying low or cheap is not the goal.
The greatest thing about trend following is that you do not have to know anything about oil. You don’t have to know supply and demand for next week or next year. Trend followers don’t care. If the market is going up—you buy. After you buy, if it goes the other way and you start to lose money—you get out. How do you know to get out? Trend followers abide by certain universal and timeless
rules that go way back. One major rule is accepting when you are wrong in the market and getting out. You need to be willing to lose a small amount of money if the trend does not go your way. The key to keeping that loss as small as possible is admitting defeat. This is how you preserve capital.
Contents- The little book of trading- Michael Covel PDF
Introduction
Foreword by Cole Wilcox
Foreword by Cullen O. Roche
Chapter One: Stick to Your Knitting
Chapter Two: Someone’s Gotta Lose for You to Win
Chapter Three: No Guts, No Glory
Chapter Four: In a Land Far, Far Away from Wall
Chapter Five: Think Like a Poker Player and Play the Odds
Chapter Six: Stand Up, Dust Yourself Off, and Keep Going
Chapter Seven: Throw Away the Fundamentals and
Chapter Eight: Study Hard and Get an A+
Chapter Nine: You Can’t Know Everything
Chapter Ten: Make It Work Across All Markets
Chapter Eleven: Stay in the Moment of Right Now
Chapter Twelve: Sing the Whipsaw Song
Appendix A: Getting Technical: What Is Capitalism Distribution?
Appendix B: Fund Performance Data Glossary of Key Terms
Author Disclaimer
Acknowledgments
Praise for this book
“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 icing 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, PhD, President, The Van Tharp Institute. Author of Trade your way to financial freedom
“Michael Covel is an expert in the field of trend following. His Little Book of Trading is an inside look at why top professional traders and fund managers are hugely successful. Highly recommended.”
—Mark Melin, author, High Performance Managed Futures (Wiley, 2010); Editor, Opalesque Futures Intelligence
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About the author
Michael Covel (born September 1, 1968) is a bestselling author, entrepreneur, and film director.In 1996, he co founded TurtleTrader.com, later expanded into TrendFollowing.com, a popular online resource focused on investment style known as trend following, which allows investors to profit in both up and down markets.
He is the author of the bestselling book Trend Following, now in its seventh printing and translated into six languages. Covel speaks regularly on the subject of trading and is managing editor of TurtleTrader.com, the leading news and commentary resource on insights into the Turtles. He lives in Virginia.
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