The Little Book of Trading: Trend Following Strategy for Big Winnings (Little Books. Big Profits)
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The Little Book of Trading Trend Following Strategy for Big Winnings Little Books. Big Profits Reviews
This review is from: The Little Book of Trading: Trend Following Strategy for Big Winnings (Little Books. Big Profits) (Kindle Edition) I think the dichotomy of opinion in these reviews pertains more to expectations than anything else. If you are looking for specific trend following systems that are turnkey in nature, this book won't help. The fact is, however, that there are literally thousands of ways that a person could design a trend following system and all of them would work if you follow the advice of the traders discussed in this book. It is not for lack of a system that investors fail, it is generally the result of letting emotions get the best of you. One of the main premises of Michael Covel's books is that we can all be victimized by our evolutionary psychology to make stupid trades that will eventually bankrupt us. This book is a roadmap out of the never-ending Buy and Hold, Average Down Investment Loop that makes stooges of us all. You don't have to be a math professor to be successful at Trend Following. You just have to focus on what markets are communicating in the here and now by virtue of prices and their general trajectory... Simple to understand, but hard to implement without a steely resolve to follow the trend. Let your losers go early and let your winners run.Product Description
How to get past the crisis and make the market work for you againThe 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 occursFeatures top traders in each chapter that have beaten the market for decades, providing readers with their moneymaking knowledgeShows 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.
Table of Contents:
Chapter One -- Stick to Your Knitting (Gary Davis, Jack Forrest, and Rick Slaughter).
Chapter Two -- Someone's Gotta Lose for You to Win (David Druz).
Chapter Three -- No Guts, No Glory (Paul Mulvaney).
Chapter Four -- In a Land Far, Far Away from Wall Street (Kevin Bruce).
Chapter Five -- Think Like a Poker Player and Play the Odds (Larry Hite).
Chapter Six -- Stand Up, Dust Yourself Off, and Keep Going (David Harding).
Chapter Seven -- Throw Away the Fundamentals and Stick to Your Charts (Bernard Drury).
Chapter Eight -- Study Hard and Get an A+ (Justin Vandergrift).
Chapter Nine -- You Can't Know Everything (Eric Crittenden and Cole Wilcox).
Chapter Ten -- Make It Work Across All Markets (Michael Clarke).
Chapter Eleven -- Stay in the Moment of Right Now (Charles Faulkner).
Chapter Twelve -- Sing the Whipsaw Song. Q&A with Author Michael Covel
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