Do you ever think the stories you hear about great trading, and the gains produced, sound like luck? Do you ever wonder if there is a real method and philosophy behind the success stories? The concepts condensed into Trend Commandments were gleaned from Michael Covel's 15 years of pulling back the curtain on great trend-following traders. It is a one of a kind money-making experience that forever lays to rest the notion that successful trading is akin to winning the lottery. Winning has a formula, as does losing. Michael Covel nails both head on. Getting rich is a fight, make no mistake about it, but at least now with Trend Commandments you have a primer that allows you to crack the code of the winners.
©2011 Pearson Education, Inc. (P)2016 Michael Covel
"THE LONG GAME!!"
Jesse Livermore said he made MOST of his money sitting. That's where the BIG MONEY is!! Letting the trade work. Trading is not a get-rich-quick scheme It's a business!! Approach it like the state lottery and you will always be on the losing end. ALWAYS!! Add this book to your library of books on trading the market. If your looking for the Holy Grail that will bring you riches in the market, stop the search. It don't exist!! If you're willing to put in the work and LEARN this business, then this book is the best place to start to understand the psychology of the market.
I'm still not clear what the actual commandments are? There is very little on actual trend trading strategies. Ok maybe discussing actual strategies isn't the point, but there is only so much 60 plus chapters can say without much detail.
Almost ever chapter was the same, a defense of momentum trading and a criticism of those who dismiss it. Save yourself the time and money and find the cliff notes and you'll get as much as reading the book.
"Mandatory read for new traders"
Excellent. Not filled with charts and data and other boring material. He pounds home the point that this is a methodology to be developed into your personal style. This is the foundation to build your empire on. Bonus podcasts at end of audible book version. Loved it
Mike is an evangelist for the idea of trend following. I look forward to listening to his podcasts and reading his other works on the subject.
"great read for all traders at any level"
A great read into the perspective of trend following and the accomplished traders who have succeeded.
"Find Market Direction Quickly"
More often than not, market direction is simply overlooked or underestimated.
This book really help clear all the white noise from the markets. It turns strategies into bulldozers.
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