Michael Covel

Michael Covel

Michael Covel is an author and film director. In 1996, he co-founded the website TurtleTrader.com, an online resource for trend following writing, news, and information.[1] Covel’s first book was 'Trend Following: How Great Traders Make Millions in Up or Down Markets' (FT Press, April 2004, Nov. 2005, Mar. 2007, Mar. 2009) featuring traders David Harding (mathematician), John W. Henry, Ed Seykota, Richard Donchian, Jesse Lauriston Livermore and Larry Hite among others.[2] His second book, 'The Complete TurtleTrader: The Legend, the Lessons, the Results' (Collins, Oct. 2007, Feb. 2009) chronicles a trading experiment by legendary trader Richard Dennis. His third book is 'Trend Commandments: Trading for Exceptional Returns' (FT Press, June 24, 2011). His fourth book is 'The Little Book of Trading: Trend Following Strategy for Big Winnings' (Wiley, August 9, 2011).

Contents

Biography

Michael Wesley Covel was born September 1, 1968 in Quantico, Virginia. Covel graduated with a B.A. from George Mason University (Fairfax, Virginia). He received a M.B.A. at Florida State University (Tallahassee, Florida).

Career

'The Complete TurtleTrader: The Legend, the Lessons, the Results' (Collins, October 2007) examines nurture versus nature by reviewing an experiment conducted by Richard Dennis and then partner William Eckhardt in 1983.[3] Covel writes about the Turtles’[4] who were a group of Wall Street novices turned into top traders, based on the philosophy and rules set forth by Richard Dennis. The ‘Turtles’ were taught to think of themselves “first as scientists and second as traders.”[5]

Trend Following

Covel’s first book, “'Trend Following: How Great Traders Make Millions in Up or Down Markets' breaks down the concepts and practices of trend following.[6] He also reinforces the most vital rule in trading; to follow a system based on following market price trends.

Broke: The New American Dream

Covel directed the documentary film “Broke: The New American Dream” touches on many of today’s major economic themes.’[7] The film focuses on the harsh reality of the 2008 housing collapse, current stock-market volatility, and recent growing economic uncertainty.[8]

Critical Responses

Critics of Covel point out that his studies do not address survivorship bias. Covel's response: "Is there anything to learn from the numerous winning trend following traders, or do you view them as just lucky monkeys whose darts happened to hit all bull's-eyes for decades? This is the fork in the road for you: luck or skill."[9]

Published works

  • Covel, Michael (2004). Trend Following: How Great Traders Make Millions in Up or Down Markets (FT Press, April 23,(2004). ISBN 0131446037 (English) ISBN 978-0131446038 (English)
  • Covel, Michael (2005). Trend Following: How Great Traders Make Millions in Up or Down Markets (FT Press, May 2004 and Nov. 2005 Expanded Edition). ISBN 0131345508 (English) ISBN 978-0131345508 (English)
  • Covel, Michael (2007). Trend Following: How Great Traders Make Millions in Up or Down Markets, New Expanded Edition (FT Press; Expanded edition, March 19, 2007). ISBN 0136137180 (English) ISBN 978-0136137184 (English)
  • Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (FT Press; 1 Updated edition, February 25, 2009). ISBN 013702018X (English) ISBN 978-0137020188 (English)
  • Covel, Michael (2007). Trend Following: How Great Traders Make Millions in Up or Down Markets (Kindle Edition). FT Press; Expanded edition, March 23, 2007. ASIN: B000P28WTY (English)
  • Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (Kindle Edition). FT Press; 1 Updated edition, March 3, 2009. ASIN: B001UID8LY (English)
  • Covel, Michael (2007). The Complete TurtleTrader: The Legend, the Lessons, the Results (Collins Business, October 9, 2007) ISBN 0061241709 (English) ISBN 978-0061241703 (English)
  • Covel, Michael (2009). The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires (Collins Business, February 24, 2009) ISBN 0061241717 (English) ISBN 978-0061241710 (English)
  • Covel, Michael (2011). Trend Commandments: Trading for Exceptional Returns (FT Press, June 24, 2011) ISBN 0132695243 (English) ISBN 978-0132695244 (English)
  • Covel, Michael (2011). The Little Book of Trading: Trend Following Strategy for Big Winnings (Wiley, August 9, 2011) ISBN 1118063503 (English) ISBN 978-1118063507 (English)

Foreign Language Publications

  • Covel, Michael (2008). The Complete TurtleTrader (Chinese-Complex Version), Sunbright Publishing Co., February 18, 2008. ISBN 9861542035
  • Covel, Michael (2007). Turtle-Trading (German Version), Börsenmedien, December 2007. ISBN 3938350482 ISBN 978-3938350485
  • Covel, Michael (2008). The Complete TurtleTrader (Korean Version), Wisdom House Publishing Co., May 2008. ISBN 978-89-6086-102-2
  • Covel, Michael (2009). The Complete TurtleTrader (Japanese Version), Nikkei Business Publications, January 28, 2009. ISBN 978-4-8222-4630-3
  • Covel, Michael (2006). Trend Following (Chinese-Simplified Version), Financial Times Prentice Hall, December 1, 2006. ISBN 7807284447
  • Covel, Michael (2006). Trend Following (Arabic Version), November 1, 2006. ISBN 9953297932
  • Covel, Michael (2006). Le Trading Directionnel (French Version), Valor, March 30, 2006. ISBN 2909356507 ISBN 978-2909356501
  • Covel, Michael (2006). Trend Following. Wie erfolgreiche Trader in Hausse und Baisse Millionen machen (German Version), Börsenmedien, February 28, 2006. ISBN 3938350083 ISBN 978-3938350089
  • Covel, Michael (2005). Trend Following (Korean Version), TheNan Publishing Co., November 25, 2005. ISBN 8984053244
  • Covel, Michael (2005). Trend Following (Chinese-Complex Version), Pearson Education Taiwan, October 1, 2005. ISBN 9861542035
  • Covel, Michael (2005). Trend Following (Japanese Version), Pan Rolling, January 27, 2005. ISBN 4775970461 ISBN 978-4775970461

Foreign Language Published Articles

Further reading

Notes

  1. ^ Double Your Money, Best Life Magazine, Feb 21, 2007 (p.1).
  2. ^ Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (FT Press; 1 Updated edition, February 25, 2009). ISBN 013702018X (English) ISBN 978-0137020188 (English).
  3. ^ Covel, Michael, The Complete TurtleTrader: The Legend, the Lessons, the Results (Collins, October 2007) ISBN 0061241709 /ISBN 978-0061241703
  4. ^ Steenbarger, Brett,Turtle Trading Lessons From Michael Covel, TradeFeed, October 2007.
  5. ^ Covel, Michael, 'The Complete TurtleTrader: The Legend, the Lessons, the Results' (Collins, October 2007) ISBN 0061241709 /ISBN 978-0061241703
  6. ^ Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (FT Press; 1 Updated edition, February 25, 2009). ISBN 013702018X (English) ISBN 978-0137020188 (English).
  7. ^ Hoenig, Jonathan, New Movie Challenges Biz Pundits, SmartMoney.com, Dec. 2008.
  8. ^ Hoenig, Jonathan, New Movie Challenges Biz Pundits, SmartMoney.com, Dec. 2008.
  9. ^ Covel, Michael (2011). Trend Commandments: Trading for Exceptional Returns (FT Press, June 24, 2011) ISBN 0132695243 (English) ISBN 978-0132695244 (English).

References


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