Amazon.ca:Customer reviews: The Little Book of Trading: Trend Following Strategy for Big Winnings

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Dmonk

Easy Read

Reviewed in the United States 🇺🇸 on January 2, 2012

Verified Purchase

This is the 4th trader's book I have read, it rehased alot of what I already read but there is insightful information in this book. This book is short and an easy read, you can read it over the weekend. The author writes about his interviews with successful traders and how they got started in trading. He shares their background and how they used it in their trading careers - for example one trader was a brilliant programmer but was a loner and didn't like working in groups. He was offered a job at a large firm but it didn't work out because he couldn't conform to the corporate world so he created a program to tell him when to buy and sell stocks. He ended up making over 20 million dollars. The point is that you cant excel in trading if you do not develop your own system of trading that caters to your style.

The author is opposed to fundemental trading and he states that several times in the book. He believes markets are inefficient thus fundemental trading is useless. Also fundamental trading is for amateurs and those who are fearful of the market. He gave examples of really smart people creating fundamental trading systems designed for the long haul. For example you can invest in a company who has a price of $100 dollars a share and in five years it may go to $200 a share, fundamental trading doesn't take into account how it got to $200 - maybe it dropped to $50 a share in the process. A trend follower would ride the trend down to $50 and then back up to $200. Another point he made is not to listen to the clowns on TV - no one is able to predict the market but amateurs are looking for something to believe in. Markets are unpredictable but as a trend follower that doesn't really matter, just follow the trend until it stop trending. Just that simple.

The most important message I took from the book was in trading the only aspect we have control over is how much we lose. Make sure that you have a clear exit strategy and never deviate from it. If you have that you will last as a trader. Lastly develop a system and a set of rule and never break those rules, if you do you won't be trading for long.

All in all is a good book. The only knock I have is that he never really told you what their system was, he just mentioned they had a system. At the end of the book he leaves his website and says send him a message if you have any questions. I went to his website and just seen paid type of services. Guess he is in it for the money and not to assist new traders.

Good luck.

Dmonk.

10 people found this helpful

Clive Q

A Few Nuggets of Guidance

Reviewed in the United Kingdom 🇬🇧 on October 2, 2016

Verified Purchase

In this book, there are some good hints at what Trend Trading looks like, and the web addresses of fund managers who practice it. However it is short of diagrams, and specifics, whilst being long on tales and folksy comments about the progress of successful trend traders. I am glad I read it, but it could have conveyed the few nuggets of guidance, in a book that was about half the size of this little book.

One person found this helpful

The Creature

Mediocre Introduction to Trend Following

Reviewed in the United States 🇺🇸 on September 8, 2012

Verified Purchase

I have no doubt that it is not easy to write a fascinating overview of trend following because the strategy itself can be basically explained in a paragraph. The problem then is how to make a full book out of this without going into some of the hardcore theory of risk and sizing that would alienate the beginner. It is a problem the author hasn't really solved.

Some of the faults include the following. The character sketches are so meager that one doesn't get a decent feel for the traders mentioned. The order of the chapters, paragraphs and even sentences often seem random, as if the author had made a list of 200 things vaguely related to investing, trading and trend following and then put them in one of those transparent shufflers you see in lotto type games, turned the handle to mix the tickets and out popped the book. Finally, there is a snarkiness embedded in the book that gets annoying.

If you've never been exposed to trend following, perhaps this book can serve as an introduction. For those who are familiar with trend trading, I'd steer clear.

5 people found this helpful

D RAMKUMAR

Three Stars

Reviewed in India 🇮🇳 on February 4, 2018

Verified Purchase

Good Book

chris m

trend following

Reviewed in France 🇫🇷 on March 6, 2014

Verified Purchase

Bah un ensemble d'interviews plus ou moins bien conduites... Mais on n'est pas au niveau de J .Schwager et ses markets wizards

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R. Jaeger

Meh

Reviewed in the United States 🇺🇸 on August 20, 2013

Verified Purchase

Nothing new here from the most prolific trend following writer. It is a quick read and decent introduction to the strategy. WARNING: Covel never reveals any trading systems. You will need to look elsewhere for that.

4 people found this helpful

Dale

I found it repeats itself a lot, and I ...

Reviewed in the United States 🇺🇸 on January 5, 2015

Verified Purchase

I found it repeats itself a lot, and I didn't learn anything new, but if you are about to give up on trend trading, it would supply you with ample motivation to continue.

One person found this helpful

Varun

nothing great

Reviewed in the United States 🇺🇸 on September 16, 2013

Verified Purchase

good book for starters.. but even then nothing great. better to read the market wizards series to get a better idea of some of these traders

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