PDF Ebook Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow
When getting guide Following The Trend: Diversified Managed Futures Trading, By Andreas Clenow by on the internet, you could review them any place you are. Yeah, even you are in the train, bus, waiting list, or other areas, on the internet publication Following The Trend: Diversified Managed Futures Trading, By Andreas Clenow could be your buddy. Whenever is an excellent time to read. It will certainly boost your understanding, fun, amusing, session, and also experience without investing more money. This is why on the internet publication Following The Trend: Diversified Managed Futures Trading, By Andreas Clenow ends up being most wanted.
Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow
PDF Ebook Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow
This is your definitely time to find over and also have certain routine. Checking out as one the hobby to do can be done as practice. Even you might not be able to review each day, you choice to pick reading a publication to come with in spare time is right sufficient. There are not all individuals have this way. Several additionally think that analysis will certainly be so monotonous.
Reviewing is type of need to do every day. Like exactly what you do your everyday activities, eating or doing your everyday activities. And also now, why should read? Reading, once again, could help you to locate new way that will buy you to life better. That's not just what you call as the commitment. You could check out Following The Trend: Diversified Managed Futures Trading, By Andreas Clenow in the extra time as additional activities. It will not likewise obligate you to review it for lots of web pages. Simply, by steps and you could see exactly how this publication surprisingly.
Currently, you can find out more valuable time to spend for this priceless publication. Reading this book will lead you to open up a new world that comes for getting something valuable and valuable a lot. Following The Trend: Diversified Managed Futures Trading, By Andreas Clenow is just one of the collections of guides in the listings of web site. You can locate the soft documents based on the link that we show. When you require far better principle of checking out recommendation, pick this book asap. We have this book also for delivering guide in order to suggest a lot more.
When selecting this Following The Trend: Diversified Managed Futures Trading, By Andreas Clenow to obtain and also check out, you will certainly begin it from the very first web page as well as make bargain to enjoy it a lot. Yeah, this book truly has fantastic condition of guide to check out. How the writer attract the readers is very smart. The web pages will certainly reveal you why guide is presented for the terrific individuals. They will worry you to be one that is much better in going through the life as well as enhancing the life.
Review
“Following the Trend is an absolute must read for anyone with an interest in systematic trend following whether as an investor, trader, or aspiring manager. The book is at the same time comprehensive and easy to read. As someone who has designed these types of systems, it is absolutely clear to me that Clenow writes as a knowledgeable practitioner, not an armchair theoretician. I admired Clenow’s repeatedly pointing out real life difficulties and drawbacks and his refusal to use optimization or well-chosen examples as virtually all other books of this type tend to do. In short, this is a real life presentation of the subject matter. In one particularly innovative chapter, Clenow creates close replications of some of the best and largest trendfollowing funds by combining his set of simple, non-optimized rules with variations in portfolio composition and volatility level.”—Jack Schwager, Author of Market Wizard and Schwager on Futures series and Market Sense and Nonsense
Read more
From the Inside Flap
“Andreas Clenow has written a very unique book that provides a rare insight into how an actual CTA hedge fund manager trades. Backing up all his claims with hard research, he cuts right to the point and educates the reader about how the real value of trend-following futures trading is achieved and how to replicate the success of the major hedge funds. A must read and an essential part of any serious trader's library!”—Carl Gyllenram, CEO, Ability Asset Management / Author of Trading with Crowd Psychology “Following the Trend truly captures what it is to be a systematic manager day in and day out. It is a must read for someone with ambitions to create his own systematic fund; highly recommended for everyone who is planning to invest in or understand the intricacies of systematic strategies.”—Sanjiv Kumar, Principal, Fort LP. “In this excellent work, Andreas has shed light on some very important and previously undocumented aspects of trend following. This book should be of great interest to Managed Futures managers and investors alike.”—Nigol Koulajian, Founder, Quest Partners, LLC “This is must read for anyone involved in trading markets. The thoughtful analysis of how models work and fail will help anyone interested in trading futures. This book adds to the short list of intelligent analysis available for investors to beat the market.”—Robert Savage, CEO, Track.com “If you want to trade professionally by managing other people’s money, then this is one of the first books I recommend that you read.”—Van K. Tharp, Ph.D., Author, Trade Your Way to Financial Freedom, Supertrader and The Definitive Guide to Position Sizing Strategies “Trend following is the largest sub-category of managed futures, driven by the market environment of price persistence. Andreas has taken a complicated topic and provided an insightful viewpoint.”—Mark H. Melin, Author, High-Performance Managed Futures / Editor, Opalesque Futures Intelligence “A no- nonsense view into the real world of trend following and how it can be done.”—Kathryn M. Kaminski, PhD, CIO and Founder, Alpha K Capital
Read more
See all Editorial Reviews
Product details
Hardcover: 300 pages
Publisher: Wiley; 1 edition (January 14, 2013)
Language: English
ISBN-10: 1118410858
ISBN-13: 978-1118410851
Product Dimensions:
6.2 x 0.8 x 9.2 inches
Shipping Weight: 1.3 pounds (View shipping rates and policies)
Average Customer Review:
4.6 out of 5 stars
88 customer reviews
Amazon Best Sellers Rank:
#103,582 in Books (See Top 100 in Books)
I really liked the ideas in this book and I enjoyed the writing style of the author. Unfortunately the book was targeted to investment professionals who are managing other people's money as a CTA fund manager, so the concepts suggested in the book require a larger investment portfolio than most individual investors would have in order to gain the proper diversification. Even the author says implementing his ideas requires a total portfolio of at least $1 million. That is a fairly significant portfolio for one asset class and is, unfortunately, out of my league.Despite those comments, I thought Mr. Clenow wrote an investment classic and both individual investors and professionals can gain important insights from reading this book. I am investigating if there is some way I could implement his ideas using avenues other than the exact ones he presented in his book and given a much smaller portfolio that I can dedicate to commodities/futures.
This book is a must-read if you trade futures, forex or equities using systematic trend following methods.My two main take-aways from this book after reading it a couple years ago:1. Trend-following will be unprofitable for YEARS at a time in specific sectors (equities, metals, currencies, softs, etc.), therefore you need to trade EVERYTHING to make up for this. Example: Using a trend-following strategy on equities was not profitable from 2004-2006, therefore you had to also be trading instruments that were "trendy" during that same time period (metals or softs or whatever it actually was). This means that it's very difficult to be consistently profitable as a trend follower with a small account (less than $250k). Why? You need enough money to trade every asset from Day 1: Equities, financials, energy, metals, softs, currencies. You might be able to do it with $150k minimum but that would be a very high level of risk (think 50+% drawdowns). The reality is this: you can't just deposit $25k with a broker, trade one instrument and expect a profit your first year or any year. You have to trade everything with a big account.2. CTAs use simple, well-known strategies to identify the current trend, either a moving average crossover (10 day vs 100 day) or a breakout method (buying the 50 day high and then selling on the 25 day low and vice versa). The breakout strategy can then be modified by adding a trend filter (MA crossover) and stop (3 ATR) to form a complete CTA-style strategy. No secret indicators or anything like that, just moving averages and a vol indicator (ATR) for your stop. Beyond that, it's up to you to control position size (number of futures contracts) to achieve your desired level of risk. Most amateur traders lose all their money because their position size is too big.Apologies to Clenow if I've over simplified or misremembered anything. It's a great book to see how professional systematic traders actually do things. The strategies are simple and well-known, but you need enough money to trade all the sectors. The harsh reality is that many individuals probably don't have enough cash to start their own proper trend-following strategy.
When I first started studying trend following, I got the "buy high, sell higher"...... "manage your risk"....."Drawdowns are part of the game"....."use volatility to size your positions"......."once you have the rules in place, it becomes 100% psychological". All of these points are 100% true and very, very important. What Andreas does is take these truths much further. I have read several books on trend following, and all were very good, but something was lacking. Most will talk about the importance of portfolio selection, but never really dive into it. Andreas does.....and does in a big way; showing what a difference it can make. As a newer CTA, I appreciate his willingness to divulge this information, dispelling the myth that some of the most legendary and successful trend following programs have some sort of "secret sauce". Sure, some do employ legions of quants, trying to squeek out every ounce of return while reducing drawdown, but Andreas does a masterful job showing how one can replicate these strategies with a simple trend following strategy.Since he does manage assets for clients, I don't understand why he wrote this book.....letting the reader in on the "big secret", but I'm sure glad he did. This is one of the best, if not THE BEST, book you could read on the subject. Whether you want to trade for yourself, or manage assets for others, this book is ESSENTIAL!
A great book for futures traders BUT just as great for stock traders. I've focused more on the individual equities so my system isn't completely in conjunction with Clenow's but his advice and thoughts are just as valuable. Before you ever start trading futures, please read this book and it will save you a ton of money. He presents a couple of easy and logical systems and his advice is invaluable.
Many thanks to the author who not only generously gives his insights on trending following ore strategy, and the most important part of how to use 5 different sectors to create diversified portfolio - one key step to enable trend following, plus the most critical part of risk management via risk adjusted position sizing, he also devoted one chapter to give details of 20 years by year trading history of the fund. This details paint the most valuable and realistic picture of what one will experience even if in theory, a winning trading strategy. I am quite sure many of us (including myself) would have either given up or tweak the strategy during such turbulent trading period.
Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow PDF
Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow EPub
Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow Doc
Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow iBooks
Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow rtf
Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow Mobipocket
Following the Trend: Diversified Managed Futures Trading, by Andreas Clenow Kindle
COMMENTS