Rating: - Big Events causes disasters and profits
Good overview book. The information presented is substantial and meaty. Trading biographies, reviews of major events in the markets and trading psychology are all covered.

The author's use of baseball is particularly impressive. Linking a hobby to finance took some skill. But trading is a lot like baseball. Aim for the fences and swing hard. Similar to trend following. Look for the biggest and best opportunities to profit - trends.

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Rating: - The Michael Moore of Buy and Hold
If you want to spend a few hours glued to the pages of a book, pick up a copy of Trend Following. Covel gives you the unvarnished truth about why most of us are on the losing end of the zero sum game. Check out the chapter on Big Events, particularly the breakdown of who won and who lost from Enron and the dot com bust if you need a splash of brutal reality. By introducing the general public to the world of trend followers and how they trade, Covel may be the Michae Moore of buy and hold.

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Rating: - System success
Looking for a trading system? Developing one and need some assistance?

Late in the book the author begins breaking down system trading. He covers the five questions to ask about your trading system.

1.) What to buy or sell
2.) How much to buy or sell
3.) When to buy or sell
4.) When to get out of a losing position
5.) When to get out of a winning position

Looking for a method of entry? Chart 10.2 sums it all up.

What else do you need? Great value - great read.

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Rating: - Finished this book and immediately started reading it again
Business School and a few years in Investment Banking don't hold a candle to what this book has taught me about how to look at the big picture when it comes to markets. Whether you're a newbie or an experienced trader, buy Covel's book for an educated, entertaining read. It's worth every penny.

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Rating: - Absolute Returns � Absolutely Fantastic
Chapter three will change your outlook on life. Absolute returns - critical to success in the markets!

It doesn't matter what the unemployment rate is if you are the one unemployed. The performance of the S&P is inconsequential if your account is down 20%. What matters is the balance of your account on December 31st.

Through the increases of the late `90's I got caught up in analyst recommendations or the latest skirt on CNBC. I knew more about the CNBC personalities than I did about my own family.

My method of portfolio balancing was having a little of Xerox to balance out Worldcom and Yahoo. 2000 and 2001 came. My account was down 80% from its peak. The S&P was down 50% and I was down 80%. Did it matter what the S&P returned? No. I was still down 80%.

The author uses a quote from Ed Seykota - "No matter what kind of math you use, you wind up measuring volatility with your gut." Brilliant.