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Publisher's Summary

This is the true story behind Wall Street legend Richard Dennis, his disciples, the Turtles, and the trading techniques that made them millionaires. What happens when ordinary people are taught a system to make extraordinary money? Richard Dennis made a fortune on Wall Street by investing according to a few simple rules. Convinced that great trading was a skill that could be taught to anyone, he made a bet with his partner and ran a classified ad in the Wall Street Journal looking for novices to train. His recruits, later known as the Turtles, had anything but traditional Wall Street backgrounds; they included a professional blackjack player, a pianist, and a fantasy game designer. For two weeks, Dennis taught them his investment rules and philosophy, and set them loose to start trading, each with a million dollars of his money. By the time the experiment ended, Dennis had made $100,000,000 from his Turtles and created one killer Wall Street legend. In The Complete Turtle Trader, Michael W. Covel, best-selling author of Trend Following and managing editor of TurtleTrader.com, the leading website on the Turtles, tells their riveting story with the first ever on-the-record interviews with individual Turtles. He describes how Dennis interviewed and selected his students, details their education and experiences while working for him, and breaks down the Turtle system and rules in full. He reveals how they made astounding fortunes, and follows their lives from the original experiment to the present day. Some have grown even wealthier than ever, and include some of today's top hedge fund managers. Equally important are those who passed along their approach to a second generation of Turtles, proving that the Turtles' system truly is reproducible, and that anyone with the discipline and the desire to succeed can do as well as - or even better than - Wall Street's top hedge fund wizards. These rules worked - and still work today - for everyone.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.

©2007 HarperBusiness (P)2016 Michael Covel

What members say

Average Customer Ratings

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  • Overall
    5 out of 5 stars
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    5 out of 5 stars

Entertaining & helped me make real money.

Michael Covel's BEST book.

This book is for non-traders. You don't need to have any technical knowledge of trading to understand it and find it highly entertaining and informative.

I recommend it, If anything, to learn about Richard Dennis and his reality TV style antics in the 80s futures markets.

He basically put a craigslist ad up saying that anyone could apply to trade with his system of rules, no experience required, and he’d give them all 1 million dollars of his money to trade with.

The majority of the people had no trading experience, they knew nothing about the markets they were trading in nor how to trade … but they were very successful, some of them are still trading today with their own billion dollar funds.

While reading the book in 2013, it just so happened to be around when bitcoin popped. I started using his rules to trade altcoins and I made a bunch of money following his strategy laid out in the book!

I've actually been using this book as a guideline to trade cryptocurrencies since then on and off, and I've netted well over 6 figures trading the turtle trading method.

I was excited to see it released in audio format, I purchased it for a refresher course.

The author, Michael Covel has a great podcast, and some other trend following books.

Don't bother with any of Covel's other books - Trend Following, Trend Commandments, etc are just rehashes of the same stories. There's no solid strategy in any of his other books. THIS is the one you want to get.

His other books are misleading, the titles sound like there will be strategies in the book that will help you make millions - when in fact it's just a bunch of stories about trend followers. Complete Turtle Trader actually has rules and data that you can use, test & modify.

If you don't get this book you should at least subscribe to his podcast, in fact, in Covel's other audiobooks, he includes about 5 hours of his podcast episodes at the end ... just skip buying the other books and listen to the podcast episodes with the Tom Basso and other traders.

Highly recommend this book (not his other ones).

58 of 61 people found this review helpful

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  • Daniel
  • Santa Barbara
  • 06-15-17

Not as good as I thought

Thought it would have a lot more useful info to put to real world action. Basically it outlines a story mostly about an experiment of nature vs nurture. Good if your a stock market history nerd. I was expecting something I could put more into immediate action.

10 of 10 people found this review helpful

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    5 out of 5 stars
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    5 out of 5 stars

Excellent book on the Turtles!

I've heard the story of the Turtles a few times, and this book gives many of the details that were lacking in those other tellings. I feel like this was a quick read, and that it passed so quickly. A sure sign that this is great tale. The narration was good w/the slight variations to convey the characters & nuances of the Turtles when possible. Overall, I gave it 5 stars because of the great story & its underlying, subtle message that may give hope to all investors: work hard & smart, trade the numbers, stick to the system, and anyone can potentially earn success in trading. I hope this eventually does become a movie!

7 of 8 people found this review helpful

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Great book on trend following!

This is the story of Richard Dennis the "Prince of the Pit" and his incredible trend following trading system. I really enjoyed the first hand experiences of the turtles and learning about their trades. There is a large amount of detail here. Great start for any novice trader.

6 of 8 people found this review helpful

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    2 out of 5 stars
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    2 out of 5 stars

this is not a how-to guide

I bought this book thinking I was going to get an inside on how to trend trade. The information that gives on Trading is very little and not useful for the average trader.

10 of 14 people found this review helpful

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    3 out of 5 stars
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    4 out of 5 stars

Let the narrator read.

The story is decently interesting, but the author's voice ruined the experience. He should just let the paid narrator (who was good) read, instead of trying to intert himself in a narcissistic manner.

1 of 1 people found this review helpful

  • Overall
    5 out of 5 stars

Great Book

Definitely worth the read. You will want to do research into the futures market too after reading this !

1 of 1 people found this review helpful

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  • Deb
  • Austin, TX, United States
  • 03-29-17

Too Much Fluff... Get to Point!

I think this could have been much, much shorter. I got too frustrated to continue listening. Seemed to talk forever to tell story. Summarize please.

4 of 6 people found this review helpful

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Good Story and Potentially Lucrative

Are great traders born or made?

This book makes for a good story as a real life test of nature vs. nurture. And Covel does a good job of telling it.

Now the real question is do these methods still work in today's markets?

My answer: a qualified yes.

Momentum which underlies this approach seems to be a robust phenomena in many markets across long spans of time. That's according to a boatload of academic and practitioner research. So while I wouldn't personally trade the exact turtle rules today, the underlying idea has merit.

The real trick is understanding whatever system you use deeply enough so you trust it, and stick with it through the bad patches.

And if this book can help you create a system that works for you, then you may indeed find it lucrative.

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Amazing audiobook and always exciting

I am now converted. Trend following is my new way. I used to think that you need to scalp to maximize returns but I see the new light. I am just a perpetually skeptical attorney that is working to be a full time trader and I this gave me several aha moments. I just bought Covel's other book on audio and am now listening to that.

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  • lauren
  • 05-11-17

valuable for developing trading strategy.

the first few chapters detail how the turtles came about, if like me your reading/listening to this book to improve your own strategy it is longer than it needs to be. The strategies it dose suggest are beneficial.

4 of 4 people found this review helpful

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  • StevePenney
  • 11-19-16

Excellently presented and very informative!

An excellent book and covers the Turtles from start to... well present day!

This is a must read for any trader or anyone interested in this amazing true story. With such a well researched and compelling story, this has all the ingredients to be a film one day as equals the Big Short for content in my opinion.

3 of 3 people found this review helpful

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  • Ashish
  • 04-05-17

great book for to-be traders.

insights into trend trading turtle strategy. definitely a must listen. not all details revealed but still great

1 of 1 people found this review helpful

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    5 out of 5 stars
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  • Miss Lisa J mitchell
  • 06-30-18

Good <br />stuff

Great insight into this project. Really I opener. Would be nice to see a 2nd book on it

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  • Mat Brunt
  • 05-18-18

Entertaining and well read story.

I enjoyed this audiobook, the reading was good, it flowed well and was engaging for almost all the time.

On occasion it descended into just the montone reading of lists of numbers, which I rapidly found myself zoning out, then missed the beginning of meaningful content and had to skip back.

The only slight annoyance were the interruptions of the author - his material was interesting but delivered as a marketing spiel, we've already bought the book, we don't need to be constantly preached at.

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  • Mick
  • 09-20-17

Great story terribly written

Whereas the turtle story is s great one, it is ruined in this case by the author.

I suggest finding another version of this story and spare yourself from having to listen to Covel's self indulgent, deluded musings.

If you do listen skip any section where Covel himself talks - the preface & afterword included.

The interview with a Turtle at the end of the book is worth a listen notwithstanding Covel's sycophantic manner and the poor sound quality.

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  • Craig
  • 03-05-17

A Load of Crap

If this book wasn’t for you, who do you think might enjoy it more?

Somebody who likes the idea of trading but does not wish to, like a fan of the wolf of wallstreet.

What will your next listen be?

?

What didn’t you like about Joel Richards’s performance?

Good.

If you could play editor, what scene or scenes would you have cut from The Complete TurtleTrader?

Too much narrative crap.

Any additional comments?

SO FLUFFY AND VAGUE COULD BE DONE IN 3 CHAPTERS WITHOUT THE UNECESSARY WORDS.

0 of 1 people found this review helpful

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  • Sitiveni
  • 07-20-17

Good book but read better

This was a good book about Richard Dennis and his turtle experiment. His method is trend following or momentum trading. Dr Wesley Gray comes from a value investing background and uses momentum investing to enhance his returns. Momentum is not the same as growth investing.

1 of 1 people found this review helpful

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  • Anonymous User
  • 09-17-17

The Rules

Great story telling. It shows that the only thing in the way of making it is dicipline. A must read for anyone considering trading or trading at the present.