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You must read this Trend Following review before you spend $2,997 on a product that has been hyped so much that one might think it’s the best thing in the world after a slice of bread.
The websites TrendFollowing.com and turtletrader.com and owned by Michael Covel. But Michael Covel himself is not the greatest trader or even a trader at all.
He is an author, a journalist and an internet marketer claiming to be associated with the original Turtle Traders. None of these Turtle Traders have bought his Trend Following books. So, where does this leave us? Can Michael Covel demonstrate the effectiveness of his book to the public in order to convince its worth?
In this Trend Following review, we’ll address the questions and concerns so you can make a better decisions. You know in the trading market, there are lots of charlatans and there’s a possibility that Michael Covel is just a good internet marketer like the people who run these dubious trading schools…….. Falcon FX, Live Traders, Trading with Venus etc.
Trend Following, Michael Covel review
TrendFollowing.com is a website with a bunch of resources but most importantly, the marketing that went into this project is amazing.
In my opinion, the deception is evident because in as much as Michael Covel’s books seem detailed enough, there’s zero evidence to suggest that the true worth of these books is $3000.
In this review, we’ll list what is being offered in his Trend Following trading strategy which he claims has defied the test of time and is responsible for making people overnight millionaires (that’s a red flag).
The Trend Following system is marketed as a flagship product by Michael Covel. Traders are told that if they buy this trading system, they’ll get the following things:
- 18 months of custom email support
- 163 pages of core systems trading manual
- A manual for trading ETFs (Exchange Traded Funds
- Leaps options manual
- Manual for trading single stocks futures
- Money management manual
The training of the Trend Following investment system includes the following:
- Can be used by all traders
- Can be used to trade all markets and instruments (futures, forex, stocks, commodities, ETFs, Energies, Agriculturals, Metals, Cryptocurrencies, Bonds, Interest Rates etc
- Traders will learn when and where to enter and exit the markets
- Placing stop loss
- How to automate trading
- When to cut losses before they are big
- How to adjust risk as account balance grows
- How to choose a portfolio
- How to model great traders
- and many more….
The Trend Following Trading strategy by Michael Covel is allegedly designed to teach traders every price level to follow, every trade setup to take and how to manage risk.
Other books and films that Michael Covel is selling include Trend Commandments, Complete Turtle Trader, The Elite Book of Trading and the Brook (a film).
This is basically a summary of the Trend Following system plus a few other trading products sold on the TrendFollowing.com website.
Who is Michael Covel?
Before I spend 3k on a trading course, software, system, book and so on, I’d ask myself whether the trading educator in question is a living proof of what he teaches.
There are many trading educators in the market selling snake oil. And it’s certainly more profitable selling spades and shovels than trying to dig gold.
The above statement agrees with my assertion that Michael Covel is an author and a really good internet marketer. But to the naive trader looking for quick riches, the Trend Following trading strategy will sound like the holy grail of trend following systems.
It will look like if one spends $2,997 on this trading course, their experience with trading will change all of a sudden. Trading is the easiest thing to talk about but the hardest thing to be successful doing.
To be certain that Michael Covel is a professional trader and not just someone who knows how to talk about trading, we would need to take a look at his performance.
Many trading educators will feel insulted when you ask about their trading performance. I wonder what is in this question that makes majority of them go berserk at the mention of ”where’s your trading performance?”
Michael Covel fails to convince me of his trading prowess because in his performance page, he is only claiming success by way of association.
He is associating himself with the original Turtle Traders in addition to mentioning that many students from big universities like The Wharton School of the University of Pennsylvania are buying his Trend Following system.
Basically, the success of the Trend Following program is based on associations with people and not a demonstrated track record showing the trades that Michael Covel has taken over the years.
This (according to me) is the work of a skilled internet marketer. Listing a series of podcasts from other trading educators is not considered evidence for the success of this particular trading system.
I don’t think an internet marketer and a trading author can help you make money from trading even if he seems to know about trading.
Trend Following “flagship” product is therefore a book by a charlatan. If he sold it for $100, that would not feel like a rip off because the book has 163 pages highlighting how to trade with the trend.
You can find this material free of charge on the web. But for a book to sell for $2,997, he needs to provide valid reasons why he believes this book should sell for that much.
A trading educator is definitely making his income from trading and not selling books. If the author has no track record of live trading, he is definitely taking you for a ride.