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The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires

3.85  ·  Rating Details  ·  481 Ratings  ·  23 Reviews
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 b
Paperback, 288 pages
Published February 24th 2009 by HarperBusiness (first published October 1st 2007)
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Aug 03, 2008 Nicolai rated it it was amazing  ·  review of another edition
Type 1 error - rejecting something that shoudl have been accepted

type 2 error - accepting something that should have been rejected.

edge = winning % X avg winner + losing 5 X avg loser

1. calculate your edge for every trading decision because you cannot make bets if you do not know your edge. it is not about the frequceny of being correct, but the magnitude.

2. buy rallies - watch high low close. trading decisions shoudl all be based on price.

3. embrace shorting.

S1 - 4 week (20 trading day) price
Aug 26, 2012 Reid rated it really liked it  ·  review of another edition
I think very highly of this book overall, and my main grievance is a petty one -- I rather despise the constant "branding" of the word turtle throughout the book. It's a tedious exercise in self-promotion that serves to alienate the reader rather than programme him to buy the next book. One could reduce the number of references to "turtles" by 70% and the book would be much more readable.

The best thing about this method is that one is not required to watch MSNBC, Bloomberg TV or the Report on B
Apr 19, 2011 John rated it liked it
An easy and enjoyable read about the Turtle Traders -- ordinary folks taught a mechanical way of trading that works -- and how they (mostly) got rich. The book recounts a true-life version of "Trading Places". (This is not a how-to.)
Aug 13, 2012 Joseph rated it did not like it  ·  review of another edition
Shelves: unfinished
i must say i m quite disappointed with this book. Expected a lot more. Thought I could pick up more nuggets. It's just an autobiography of how these 'turtles' as they are called, made it.
Sep 28, 2011 Patrick rated it really liked it  ·  review of another edition
Great story and straightforward intro to sound charting principles... very eye-opening!
Chris Berkhout
Jan 03, 2015 Chris Berkhout rated it it was ok  ·  review of another edition
Shelves: investing
This book and the events it describes do not answer the question of whether normal people can be taught the magic of trading and become wildly rich.

Instead, it tells the tale of a small group of exceptional individuals selected from a larger pool of motivated volunteers by an expert in the field. They were given a mundane but previously successful trading method to execute (following trends, with fixed rules for when to get in and out) and it did mostly continue to work. Later, some went on to g
Oct 20, 2013 JC rated it really liked it  ·  review of another edition
Shelves: my-firsttime, 2013
These are the type of details I was looking for in the other Turtle trading book that I read. I've been reviewing chapter 5 of this book and learning more about some of the terminology as it goes into some of the details of the system used by the experiment conducted back in the 80s. If you're looking for a bit of an odd trading strategy that actually makes complete sense (at least for someone who has never traded before) then check this book out.

The book does go into a lot of details about the
Jason Green
Nov 08, 2014 Jason Green rated it liked it  ·  review of another edition
Shelves: trading
This is a pretty good story about Nature vs Nurture put into action. Take the most successful trader in Chicago and give him a group of people from background that range the spectrum. Can he teach them to be successful traders? Or is that something that is inherent? While the story seems to support the nurture argument, what happens after the program is dissolved and the students are out on their own certainly supports nature.

Do not expect in-depth trading strategies from this book. This is a n
Brad Mills
Jun 22, 2016 Brad Mills rated it it was amazing  ·  review of another edition
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
May 20, 2009 Mike rated it really liked it
Recommends it for: Investors
I read this book after reading Curtis Faith's book and several others on automated trading systems. Covel gives a more "overviewish" type of approach to the topic than Faith (which is reasonable considering Faith is mostly concerned with his experiences as one of the members of the Turtle group.)

I liked it but read an earlier edition of the book, so I am not sure what is in the 2009 release that might be new, or different.
Aug 19, 2012 Philski rated it really liked it  ·  review of another edition
Good book, both going over the fundamentals and technicals of the trading method and providing perspective on the Turtles both in the program and their successes after. Well sourced and interesting.

However, the trading rules disagree with one other source I read on a couple of points so I need to do some more digging ...
Marcelo Menezes
A decent account of the turtle trading methodology and VERY detailed background. Actually the methodology is ancillary: the author is passionate about the turtle story (including gossip and internal strife). I don't mean the story does not deserve being told. But the author just dug too deep.
Māris Balceris
Was expecting some technical analysis insights, it was minority of the book. More about people participating in it, philosophy of those traders etc. A bit controversial story.
Alex Ryan
Jan 09, 2016 Alex Ryan rated it really liked it  ·  review of another edition
Recommended to Alex by: Me
Shelves: finance
A nice quick read that details how the lives of random average Jo's are changed when a successful trader teaches them his ways.
Jun 14, 2014 Samuel rated it liked it  ·  review of another edition
Good read. Covers both the general idea of trend following and also the human story behind the turtle traders.
Plawooth Charoenchitmun
I'm creating a system of my own and this book gives me the right mindset to work on my system
Azmir Ismail
Dec 27, 2010 Azmir Ismail rated it it was amazing
A must read book for financial traders .. more on the philosophy and psychology of trading :-)
Jess Kang
Jun 04, 2016 Jess Kang rated it it was amazing  ·  review of another edition
Beyond strategy, success lies in psychology.
Pyoungsung Choi
터틀 트레이더 실험에 관한 이야기를 알 수 있다. 소설처럼 편하게 읽을 수 있으나 투자와 관련한 지혜를 얻는 것은 그다지 많지 않은 것 같다.
May 04, 2012 John is currently reading it  ·  review of another edition
Intriguing modern day true to life analog to GB Shaw's Pygmalion...
Mar 16, 2009 Brian rated it really liked it  ·  review of another edition
This story is fascinating
Mar 28, 2013 900kg rated it really liked it  ·  review of another edition
Abdullah Aljohani
inspiring book, easy to read, and fantastic story!
Kushal Kathed
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Jonathan Birnbaum rated it really liked it
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