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I take great pleasure in knowing that Trend Following is now available in Chinese. This is the first book to tell the story of this network of relatively reclusive yet enormously successful traders andhow they trade. The history of trend following , the stories of greattrend followers , and how they emerged as winners from some of the biggest market events in the history of trading , makes fascinating and relevanlt reading for anyone who is interested in trading, investingand the markets. Why? trend following trading is applicable to all markets. It crosses geopolitical ， cultural or language boundaries. Itis the best Irading strategy for profiting over the long term lor investors of any nationality living anywhere worldwide. 

You' ll be interested to discover those trading events involving Asian markets when trend followers won big what othet traders lost .For example, The Barings Bank collapse of 1995 involved a rogue trader overextending the Queen' s Bank of England on the Nikkei 225. Who won when Barings lost? Trend lollowers did. The Asian Crisis011997 wiped out the multi-million dollar hedge funds of one infamous oustrader in a day. Learn why he misjudged the market at the same time as trend followers were assessing it correctly. More recently China Aviation's for 2004 loss of US$550 in crude oil proved yet again that you don't want to trade against trend followers. Trend followers won what China Aviation 1088 trading is a zero sum game after all.

I also challenge readers to discover their personal capabilities. I do not care who you are. I make it clear that, in order to be a successful trend follower , you do not need any prior trading experience. YOU do not need an education in finance or an MBA. You do not need to work on Wall street（As you will leam in Chapter 2, many of the great trend followers have none of these qualifications） ,For the past ten years traders , inveslors and people simply interested inlearning more about the markets have visited my Trend Followingsites and received my newsletters. They represent 132 countries ， Including , of Course, China. My staff and I answer queries from visitors ，students and readers about the potential of trend following on a regular basis. Anyone can earn profits over the long term with trend following if they are motivated to learn, have an Interest in human behavior and decision-making,and the self-discipline to stick to it.

If, for example, you trade only stacks or currencies but plan to expand to additional markets, we hope, after reading this book, you'll come away understanding why you can trade all markets successfully.If you are a business student who wants to learn how to become a trader, we hope you'll be motivated to do just that. If you area business person who wants to enhance your career with a mechanical trading system for global markets, we hope you' ll discover why trend following is the answer. If you are an investor who is tired of being limited to one market, but uncertain how to expand to the nextlevel，we know you'll come away with a fresh outlook and new ideas 

Please feel free to contact the directly with your feedback. I lookforward to hearing from you and, someday, to meeting you in China.

Sincerely,

Michael Covel

info@trendfollowing.com

www.trendfollowing.com