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  • Most of the Ivy League guys I know are so used to being 'right' they get very uncomfortable dealing with uncertainty - when there is no right answer. Their ego often makes them so afraid of being 'wrong', that they're unable to make good bets. Larry Hite, Market Wizard

Disclaimers and Legal Notices

Michael Covel (June 11, 2005)

Our network of sites have been teaching Trend Following systems since 1996. We are the acknowledged leader in providing the education needed to trade as a Trend Follower.

We do not guarantee that future performance (of any example, real or hypothetical mentioned on this site) will equal the past performance. We can make no representation of any kind that your trading will result in profits. Trend Following involves draw-downs, losing streaks and winning streaks. It can be very volatile. However, the long-term profitability of trend following has led us to conclude that markets would have to fundamentally change before Trend Following strategies would cease to perform.

Information provided does not constitute a solicitation to invest in any program or trading advisor mentioned herein. The information included herein is designed to provide individuals with accurate and objective information. Can we promise you will earn their exact returns by taking our course? Of course not, there is no Holy Grail, but there are core lessons of Trend Following to be learned in our course.

If you have questions about the scope of our course content, the time to ask is before you become a student. We will answer all of your pre-student questions patiently to make sure you understand our educational offering: the pros and cons. We urge students to focus on the long-term. If you were dissatisfied with your trading education at the end of a month, you obviously had not given the time and patience necessary to win as a trend follower.

Risk Disclaimer

Past Results are not necessarily indicative of future results. If you can not abide by these disclaimers and are unwilling to accept full responsibility for your actions, please do not use any part of this web site or purchase our course.

FUTURES AND OR STOCK TRADING CAN INVOLVE HIGH RISKS WITH THE POTENTIAL FOR SUBSTANTIAL LOSSES. HOWEVER, YOU CAN ALSO GAIN LARGE WINNINGS AS WELL.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE THE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

Trading involves high risks and you can lose a lot of money. When investing in securities you may lose all of the money you invested. When investing in futures you may lose more than the funds you invested.

Data Sources

All data on this site is direct from the CFTC, SEC, Yahoo Finance, Stark Report and individual disclosures by managers mentioned herein. We assume all data to be accurate, but assume no responsibility for errors, omissions or clerical errors made by sources.

Use of Links

Must you leave this site via a link contained herein, and view content that is not provided by us, you do so at your own risk. The content to which you link will not have been developed, checked for accuracy, or otherwise reviewed by us. We are not responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, information or other content provided in such site, whether actual, alleged, consequential or punitive. We make no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, the accuracy, subject matter, quality or timeliness of any electronic content.

Terms of Use

By accessing and using this web site, you agree to the following terms of use: the information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country. Neither the information, nor any opinion contained in this site constitutes a solicitation or offer by us to buy or to sell any securities, futures, options or other financial instruments or to provide any investment advice or service.

Trademarks and Copyrights

Questions and comments sent to TurtleTrader and or Trend Following and answers become the sole property of TurtleTrader, and may appear, with editing and revisions on the web site.

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TurtleTrader® Systems Trading Courses

Do you want to learn how +100% returns were made in 2008 across all types of markets? Do you want to learn the right buy and sell decisions to make potential millions? Michael Covel has assembled some of the most profitable trend following trading systems available. Here you will find full descriptions of the training, frequently asked questions and pricing options for all investors.

Broke: The New American Dream

The new documentary film directed by Michael Covel. Covel traveled 75,000 miles completing over 100 interviews ranging from Nobel Prize winners to single moms. Full cast.

Michael Covel's Books

All versions and translations of both of Michael Covel's books are available for immediate purchase.

About Michael Covel

Michael Covel is an author, director and entrepreneur who founded the internationally known website TurtleTrader® in 1996. Covel's first book was the bestselling "Trend Following" (FT Press, Apr. 04, Nov. 05, Feb. 07 & Feb. 09). His second book "The Complete TurtleTrader" (HarperCollins, Oct. 2007 & Feb. 09) is the definitive inside look at legendary trader Richard Dennis and his student traders "The Turtles". In 2009 Covel released "Broke: The New American Dream" a film documentary investigating the 2007-2009 market crisis and crash. Not afraid of a crowd or controversy, Covel is known for engaging and provocative speeches presented to audiences in Tokyo, Paris, Macau (China), Vienna (Austria), Hong Kong, Dallas, Miami and São Paulo (Brazil). He has been quoted and interviewed by likes of The Wall Street Journal, Barrons, New York Post, Globe and Mail and Bloomberg.

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