For Current Report Subscribers. Closes July 13, 2026.
Mastery Elite 2026
The Practitioner's Casebook.
Brand new.
No prediction. No forecasting. No screens all day.
Every month, the Bull, Bear & Black Swan Report lands in your inbox. This July you can get the complete system in one step: Mastery: Systems, Course & Coaching, the training that takes you from market selection through entries, exits, and the mindset to hold the line, with twelve months of direct coaching from Michael Covel, Mastery Elite 2026: The Practitioner's Casebook, a brand new seven-part curriculum with unique white papers, and worked examples of position sizing, market selection, and trade management, and your Report extended a full twelve months from your current expiry date, so the Trend Following headspace stays in place long after the training ends.
Get Full Program for $2,497 Three Components. One decision.
Your Next Step Is Here.
No half-measures. Mastery, Mastery Elite 2026 and Report, together.
Mastery
Systems, Course & Coaching
You'll learn market selection, position sizing, entry, exit and mindset to follow the rules when it's hard. It includes historical performance data, academic research, the behavioral side of trading, classic books on the subject, the Weekly Trend System, alternative entry strategies, and the Legend Library: exclusive interviews with real operators you can't find on YouTube. Twelve months of direct coaching with Michael Covel, and lifetime access.
You absorb it.
Mastery Elite 2026
The Practitioner's Casebook
Brand new for 2026, built on top of the original Mastery course to get you there even faster. A seven-part curriculum with unique white papers and lessons you won't find anywhere else, plus bonus modules with worked examples of position sizing, market selection, and trade management. It's designed to get you up and running successfully even faster than the main Mastery program itself. This is built so you don't have to spend decades figuring it out the hard way.
You execute it.
Bull, Bear & Black Swan Report
The Monthly
A monthly long-form letter, a trading philosophy, not a forecasting newsletter. Each issue applies Trend Following to the market in front of us and trains pressure-tested decision-making, emotional resilience, and real risk tolerance, so the discipline stays sharp instead of fading on a hard drive. Every issue includes editorial deep dive, real-market case study, book breakdown, interview highlight, and mindset boost, among other recurring features.
You apply it.
Watch & Understand
What Trend Following
Actually Is
Two short videos on the thinking behind the system.
Trend Following Explained
An introduction to how Trend Following works and why it has endured across decades and markets.
Your Exclusive Offer
A walkthrough of Mastery, Mastery Elite 2026 and Report. See complete bundle inclusions.
You Have the Mind. Now Build the Record.
The Report keeps you close to the thinking every month. But reading the monthly is not the same as owning the system underneath it.
Mentor Gap
You see the framework applied in every issue, but you have never been taught it end to end. The full Mastery curriculum and twelve months of coaching are what turn a reader of the ideas into an operator of the system, with a voice to trust when the rules are being tested.
Blueprint Gap
The Report keeps you current, but it is not your written system. You still have no document of your own rules, your own risk framework, your own commitment on paper. Mastery Elite 2026 walks you from survey to a finished written blueprint you operate from, the one document that survives a drawdown because it was written in calm.
What You're Adding
Mastery
Systems, Course & Coaching
You absorb it.
- Classic Trend Following Systems I, II, and III: the core rules, worked and explained
- The proprietary Weekly Trend System: Covel's own approach
- Money Management module with a customizable risk-plan template
- ETFs and LEAPs modules: the system applied to your chosen instrument
- Case Studies module: historical application across 50+ years of market data
- Alternate Entries module: how to adapt without abandoning the system
- Four Wizard interviews with Kevin Bruce, David Harding, Larry Hite, and Abraham Salem. Not available anywhere else.
- Trading Coach video with Charles Faulkner on the cognitive architecture of traders who follow their rules
- The proprietary research library, an addition on top of what you already have, giving you the historical performance data and case studies that back up every signal instead of just the signal itself
- An additional 12 months of one-on-one coaching with Michael Covel, on top of the 6 months you already have. Unlimited emails, 24 to 48 hour response time.
- Lifetime access
What You're Adding
Mastery Elite 2026
The Practitioner's Casebook
You execute it.
- Part 0: Core vocabulary, why trends exist, instrument overview, reading a backtest
- Part 1: 11 systems surveyed across breakout, moving-average, momentum, and pullback families. You choose one and write it down.
- Part 2: Position sizing, portfolio heat, correlation-aware construction, volatility targeting, drawdown de-risking. 25 worked numerical examples.
- Part 3: The six cognitive traps at specific decision points. Pre-commitment devices. Drawdown protocol. Daily and weekly routines.
- Part 4: Futures, leveraged ETFs, LEAPs options, or CFDs, with real sizing arithmetic in your chosen vehicle
- Part 5: Assemble, backtest, robustness check, paper trade
- Part 6: Broker setup, first 90 days, review routine, and a written stopping policy
- A fillable student workbook that builds into your complete trading blueprint
- Professional-track close readings of institutional documents from DUNN, Mulvaney, Winton, and Transtrend
What Clients Say
Real Traders. Real Results.
Praise from the traders, fund managers, and legends who've used this system firsthand.
"Michael Covel's Trend Following: Essential."
Ed Seykota
Trend Following Legend, "Market Wizards"
"Some people think Trend Following is a system, but it's much more powerful than that, it's a trading philosophy. These techniques have been proven to work."
Paul Mulvaney
Mulvaney Capital
"You can do what I did and work for 30-plus years cobbling together scraps of information, or you can spend a few days reading Covel's book and skip that three-decade learning curve."
Larry Hite
Trend Following Legend, "Market Wizards"
"There have been few authors that have tackled the financial markets with a candor that was entertaining while not alienating themselves from the community they wrote about. I believe Michael Covel belongs squarely among the greats."
Tim Pickering
Founder and CIO, Auspice Capital Advisors
"It will replace Market Wizards as the must-read bible for a new generation of traders."
Jonathan Hoenig
Capitalist Hedge Fund LLC
"If you want to understand the real world of trading, read this book."
Bill Miller
Legg Mason Capital Management
"You might call it the Market Wizards of Trend Following."
Van K. Tharp
Author, Trade Your Way to Financial Freedom
"I decided to contact Mike after reading the book and decided to work with him one on one. This experience has put me in a new league and really helped me focus on my weak areas, risk management and portfolio selection."
Steve Beamer
Client
Report Subscriber Upgrade
A Bundle for One Price.
$7,791 in assets for $2,497 today. The gap closes when the window closes.
| Mastery: Systems, Course & Coaching | Original Price: $3,997 | Included |
| Mastery Elite 2026: The Practitioner's Casebook | Original Price: $2,997 | Included |
| Bull, Bear & Black Swan Report (12 months) | Original Price: $797 | Extended |
| Total Original Price | $7,791 |
Your Exclusive Price
$2,497
A 70% discount for all Report clients.
Mastery Elite 2026 is not available after July 13, 2026.
Get Full Program for $2,497
Guarantee
The only way this does not work is if you do not apply it.
Go through the training and apply the rules. If within one year you believe they did not fundamentally improve your approach to markets, email us.
See our full guarantee.
Frequently Asked Questions
Three things, on top of what you already get from the Report. First, Trend Following Mastery: the complete course that teaches you the system from the ground up, covering entry and exit rules, position sizing, risk management, and the psychology of following a system through losing periods, plus twelve months of one-on-one coaching with Michael Covel to work through your own questions. Second, Mastery Elite 2026: The Practitioner's Casebook, a seven-part written curriculum with worksheets that take you from surveying 11 different systems to a finished, personal trading blueprint you produce yourself. Third, your Report subscription itself, extended a full twelve months from your current expiry date so nothing overlaps and nothing pauses. You start with all three at once.
No. Mastery is built to take you from the basics of Trend Following through to operating your own system. The curriculum assumes no prior background, and the coaching is there for whatever questions come up along the way.
No. Mastery is the mentorship: Covel's selected systems, the Wizard videos, the case studies, the proprietary library, and your coaching. Mastery Elite 2026 is a structured written curriculum with worksheets that build into a complete trading blueprint you produce yourself, anchored in close readings of primary-source documents from major Trend Following firms. The first is what you absorb. The second is what you write down. They are built to work together.
No. This July, Mastery Elite 2026 is available only inside the bundle. There is no Mastery Elite 2026-only option.
Far less than you'd think. This isn't day trading. There's no five-minute bar, no fifteen-minute bar, no watching screens all day. Most weeks you check the markets once, sometimes once a day if you prefer, and place a trade only when a signal is hit. The system is built so you can run it around a full-time job.
Direct access to Michael Covel himself. When you have a question about your rules, your sizing, or a trade that's testing your discipline, you email him and he replies personally. That access is limited by design, which is part of why enrollment is capped each year.
Calm Wins. Systems Survive.
You've watched the headlines move markets for years and it hasn't gotten you anywhere close to where you want to be. Trend Following has been quietly making operators rich for half a century while everyone else stared at screens waiting for certainty that never comes. Three components, one price, this July only.
Get Full Program for $2,497Closes July 13, 2026
