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The Little Book of Trading: Trend Following Strategy for Big Winnings by Michael W. Covel

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Chapter Three

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No Guts, No Glory

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Paul Mulvaney

PAUL MULVANEY WANTS TO MAKE THE MOST MONEY possible over the course of his lifetime. And so far he's headed in the right direction. Mulvaney is known as the trend following trader who made over 100 percent in 2008, but I'm willing to bet that there will be more 100 percent years to come. His insights are especially useful for readers who still dream about getting rich—not the opportunity for a couple of thousand dollars a month in retirement income living at Del Boca Vista Phase III (Seinfeld fans are with me).

Look at baseball. The home run hitter is the one we pay to see. Everyone wants to be there when a 500-foot home run is blasted into the upper deck. Even if you know nothing about baseball, balls hit far into blue sky inspire awe.

Trading is no different. Making the most money possible is what captures our imagination. It's what we all want, even if some of us are deathly afraid to admit it. Unfortunately, in today's culture, wealth building is something frowned on, especially if you end up with more than your neighbor.

That attitude did not stop Paul Mulvaney. He generated returns of 11.6 percent and 45.5 percent in September and October 2008, at the exact time Lehman Brothers' collapse was scaring the wits out of everyone. Home ...

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