Michael Covel
| Michael Covel | |
|---|---|
 |
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| Born |
September 1, 1968 Quantico, Virginia |
| Alma mater |
George Mason University (B.A.) Florida State University (M.B.A.) |
| Website | MichaelCovel.com |
Michael W. Covel (born September 1, 1968) is a bestselling author, entrepreneur, and film director. In 1996, he co-founded TurtleTrader.com, later expanded into TrendFollowing.com, a popular online resource focused on investment style known as trend following, which allows investors to profit in both up and down markets.
Covel was born in Quantico, Virginia. He graduated with a B.A. in Politics and Government from George Mason University and received his M.B.A. from Florida State University.
Covel popularized an investment strategy known as trend following, which utilizes the market trend mechanism, claimed to benefit from both the ups and downs of stock or futures markets of the market. In this method, traders use current market price data, moving averages and channel breakouts to determine the general direction of the market and to generate trade signals (such as Forex signals). According to Covel, practitioners of the method have collectively logged a 17.56% average annual return from 1984 through 2010 compared with 7.37% return for the Standard & Poor’s 500.
Covel’s first book was Trend Following: Learn to Make Millions in Up or Down Markets (FT Press, April 2004, Nov. 2005, Mar. 2007, Mar. 2009) featuring traders David Harding, John W. Henry, Ed Seykota, Richard Donchian, Jesse Lauriston Livermore and Larry Hite, among others. The book analyzes years of detailed performance data to demonstrate that trend following works. The book was an immediate international bestseller, with over 100,000 copies sold to date. It was first published by Financial Times Press on April 23, 2004.
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