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Preview — The Complete TurtleTrader by Michael W. Covel

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
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Published October 9th 2007 by HarperBusiness (first published October 1st 2007)
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Rating details

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
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Jan 03, 2015Chris Berkhout rated it it was ok
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
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Jun 11, 2017John rated it liked it
Interesting, but more filler than I wanted. Also his editor was right to cut all the petty stuff at the end that is only in the audiobook.
Jun 29, 2012Reid rated it really liked it
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
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Nov 02, 2014Jason Green rated it liked it
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
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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.
Apr 13, 2011John rated it liked it · review of another edition
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.)
Nov 20, 2014Plawooth Charoenchitmun rated it really liked it
I'm creating a system of my own and this book gives me the right mindset to work on my system
Jun 28, 2012Joseph rated it did not like it · review of another edition
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.
Beyond strategy, success lies in psychology.
Good read. Covers both the general idea of trend following and also the human story behind the turtle traders.
Jun 26, 2015Alex Ryan rated it really liked it · review of another edition
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.
Sep 28, 2011Patrick rated it really liked it · review of another edition
Great story and straightforward intro to sound charting principles.. very eye-opening!
May 25, 2019Calico Jack rated it it was ok · review of another edition
There are two qualities that I look for when I read a book like this one. I don't need to have both qualities present; one will do.
First, I want to enjoy an entertaining read; and, on the side, learn something. The Big Short: Inside the Doomsday Machine taught me stuff about financial instruments that I never knew before. And Lewis packaged it nicely in a tale rife with human interest. I didn't place any trades based on what I'd learned, but it was still an entertaining and informative read.
Seco
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May 28, 2017Billy Williams rated it it was amazing · review of another edition
This is a blow-by-blow, detailed account of one of the greatest financial experiments in the history of trading.
Its great book that details the background, motivations, and thinking of all the key players and supporting players.
I really appreciated how the Covel made key distinctions later in the book on the differences in the results of the turtles during Dennis' supervision and the success after the experiment was halted. Covel described the differences in character traits and mindsets that we
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Jul 15, 2017Terry Koressel rated it liked it · review of another edition
The Complete Turtle Trader is not the best writing. But it is a fascinating subject. The book details the true story of an experiment which was designed to determine if outstanding trading success is part of a person's psychology, intellect and character..or a learned set of skills. Fascinating topic..fascinating true life story. Richard Dennis, a legendary trader, hired 20 novices from all walks of life who were interested in beginning a trading career. He trained them for two weeks and the..more
Nice. But doesn't seem like much of a story. Author kind of drags it out, and still ends up with a pretty short book. Just a neat little experiment that was both thoroughly and poorly executed that turned regular people into millionaires. The technical chapter was good. Should come with a warning for people who want to try it at home!
This was an interesting book about an 'experiment' of teaching non-financial people how to trade using a system. I like the idea of trading using this system and I would like to learn more about it. There is one chapter that details the system but I don't think there was enough information (for me anyway) to apply it to trading.
The author of this book is high on himself.. he talks more about his process of researching the Turtles than about the lessons. His message is repetitive, and self indulgent. It appears he is trying to capitalize on what was created by the Turtles, who do not like to speak openly about this approach.
Would recommend another resource if you want to learn about this trading methodology.
May 28, 2018Cleo rated it really liked it · review of another edition
I enjoyed reading the inside story about the turtles. I was looking for specifics on their trading strategy and I’ve read some reviews where people feel that not enough detail is given. I disagree. I think plenty of information is provided. Trading isn’t easy, and it isn’t a get rich quick scheme. It takes practice and research on your own. This confirmed much of what I’ve already been taught.
Apr 18, 2019Jonathan Desimone rated it really liked it · review of another edition
This is a pretty interesting story of Rich Dennis and his disciplines in the technical trading realm. Mike Covel tells a good story and it is a must read if you are interested in this trading strategy.
Dec 10, 2018Scott Jaconetty rated it really liked it · review of another edition
Fun story that defines why technical trading works.
Nov 10, 2018Juliana rated it it was amazing · review of another edition
May 15, 2018Hoppy Agarwal rated it liked it · review of another edition
The Complete Turtle Trader Rapidshare
The overall usake content is very less. And that too may not help retail investor. But its good as to understand psychology you should follow while in the market.!
Oct 23, 2017Dallas rated it really liked it · review of another edition
May 27, 2017Tom Fernald rated it liked it · review of another edition
Now I know about the Turtle Traders from the 1990's. Not a bad book, but wouldn't recommend it unless you are interested in the financial markets
Mar 05, 2018Nicky Billou rated it it was amazing · review of another edition
Fascinating story! Thank you for inspiring me with a story that shows it's possible to crush it in the financial markets without being a corporate blueblood!
interesting topic not very well written. feels like a promotional article in a magazine.

The Complete Turtletrader Rapidshare Downloads

Way of the turtle
Apr 09, 2019Cheryl Schibley rated it really liked it
Stock market trading, which I’ve decided is better left to my broker.
Jan 20, 2019Gabriel rated it it was amazing · review of another edition
This book was great!
Didn’t really need the writers comments in the audiobook.
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“Nonconformists—lower need to conform indicating self-reliance. Emotionally aloof—not necessarily cold to others, but can be oblivious. Sky divers—lower concern for physical harm, but does change with age. Risk takers — more comfortable taking it. Socially adroit—more persuasive. Autonomous—higher need for independence. Change seekers — like novel approaches. This is different than 99% of all other people. Energetic—higher need and / or ability to work longer. Self-sufficient—don’t need as much sympathy or reassurance, but they still need to form networks so self-sufficiency need not be taken to extremes.8” — 0 likes
“He enjoyed using a third of his time to do absolutely nothing.” — 0 likes
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