Following the Trend

This systematic guide reveals how trend following strategies have consistently outperformed traditional investment approaches across multiple market cycles, including major downturns like 2008. Clenow demystifies the proprietary algorithms used by elite hedge funds, showing how systematic momentum trading can generate uncorrelated returns regardless of market direction. The book provides practical frameworks for identifying and riding major market trends while managing risk through disciplined position sizing and exit strategies. Readers gain access to the mathematical foundations that drive these professional trading systems without needing advanced degrees or insider connections.

What sets this approach apart is its empirical foundation and transparent methodology, backed by decades of performance data from commodity trading advisors and managed futures funds. Clenow emphasizes the psychological discipline required to stick with trend following during periods of underperformance, when the strategy's counterintuitive nature tests investor resolve. The book serves as both an educational primer on systematic trading and a practical implementation guide for developing robust investment processes. For traders seeking to diversify beyond traditional buy-and-hold strategies, this methodology offers a proven alternative that thrives during market extremes.