The Complete Turtletrader
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The Complete Turtletrader : How 23 Novice Investors Became Overnight Millionaires

3.85 (548 ratings on Goodreads)
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Description

Richard Dennis, 'the Prince of the Pits', a man who'd already made a fortune on the Street, was convinced that great trading wasn't a gift from God, but something that could be taught to anyone. So one day he made a bet with his partner, and ran a classified ad in the "Wall Street Journal" looking for trainees. And he didn't just hire finance professionals: his trainees - who became known as the 'Turtles' - included an actor, a security guard, two professional blackjack players, a pianist, a fantasy game designer, and others. After two weeks of training, he set them loose, with a $1 million bankroll each to invest as they chose, and the right to keep a share of their trading gains for themselves, as long they adhered to the Turtle system.By the time the program ended, Dennis and his partner had made over $120 million - from trades made by complete novices. Many of these Turtles then went on to trade for themselves, and some are among the top investors operating today. As fascinating as Dannis and the Turtles' story is, Covel doesn't stop there. He lays out, in detail, the exact system the Turtles used to reap their millions. And because the Turtle system is a form of so-called technical investing, meaning the Turtles weren't concerned about the fundamentals of the investments they made, it is an investing strategy where a Wall Street operator, plugged into the second-by-second madness of finance, has no advantage over an ordinary investor.And Covel takes us step-by-step through all the details needed to apply this at home. In "Turtletrader", Michael W. Covel, author of "Trend Following" and managing editor of TurtleTrader.com, tells the riveting story of the Turtles, their selection, their training, how they made (and lost) astounding fortunes, and certainly not least, the tools readers will need to start trading like Turtles themselves.show more

Product details

  • Paperback | 288 pages
  • 134.62 x 200.66 x 22.86mm | 204.12g
  • HarperCollins Publishers Inc
  • HarperBusiness
  • New York, United States
  • English
  • black & white illustrations, black & white tables, charts
  • 0061241717
  • 9780061241710
  • 16,325

Review quote

"Tells the 'real stories' rather than just the glossy good bits-a thoroughly good read." -- Your Trading Edge "This warmly written book brilliantly captures the formation and evolution of the legendary Turtle investment program. It is loaded with wonderful anecdotal insights plus lessons on trading, risk, and life we should all follow. It should be on any novice or seasoned trader's bookshelf alike. A must read!" -- Michael Shannon, Original Turtleshow more

Back cover copy

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. By the time the experiment ended, Dennis had made a hundred million dollars from his Turtles and created one killer Wall Street legend. In The Complete TurtleTrader, Michael W. Covel tells their riveting story with the first ever on-the-record interviews with individual Turtles. He shows how Dennis's rules worked--and can still work today--for any investor with the desire and commitment to learn from one of the greatest investing stories of all time.show more

About Michael W. Covel

Michael W. Covel is the author of the bestselling book Trend Following, now in its seventh printing and translated into eight languages. Covel speaks regularly on the subject of trading and is managing editor of TurtleTrader.com, the leading news and commentary resource on insights into the Turtles. He lives in California.show more

Review Text

"Tells the 'real stories' rather than just the glossy good bits-a thoroughly good read." Your Trading Edgeshow more
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