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The Complete TurtleTrader

How 23 Novice Investors Became Overnight Millionaires
Narrated by: Joel Richards
Length: 10 hrs and 8 mins
4.5 out of 5 stars (52 ratings)

Non-member price: $36.54

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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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    3 out of 5 stars
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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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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.

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  • Brad Mills
  • 16-09-2016

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).

73 of 77 people found this review helpful

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  • B. Ramos-Stephens
  • 23-11-2016

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!

8 of 9 people found this review helpful

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  • Daniel
  • 15-06-2017

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.

14 of 17 people found this review helpful

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  • Rguypnw
  • 10-10-2017

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.

2 of 2 people found this review helpful

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  • Alex
  • 21-12-2016

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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  • CAZAMENDEZ
  • 16-11-2016

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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  • S. Francis
  • 25-10-2018

Engaging from start to finish!

Makes me wish I was a Turtle. Time to learn everything I can about trend following!

1 of 1 people found this review helpful

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  • rbabi18
  • 02-08-2018

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.

1 of 1 people found this review helpful

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  • Dinesh Kumar
  • 01-08-2018

For wannabe traders

Loved it. It just shows that, trading is no secret. Anyone can do it if they know the Methods, Mind and Money Management.

1 of 1 people found this review helpful

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  • Adriaan
  • 16-07-2018

Great Story!

The story of the turtles is one of great mystery, yet very inspiring. Although the author might be somewhat ‘aggressively’ defensive about the book at some times, the information seems to be well researched and curated. I thoroughly enjoyed the book, though I am not an experienced trader myself. Joel Richards is a very good narrator, and did a great job woth this book.

1 of 1 people found this review helpful

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  • lauren
  • 11-05-2017

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.

8 of 8 people found this review helpful

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  • StevePenney
  • 19-11-2016

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.

4 of 4 people found this review helpful

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  • Mat Brunt
  • 18-05-2018

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.

1 of 1 people found this review helpful

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  • Ashish
  • 05-04-2017

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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  • Amazon Customer
  • 02-07-2019

It was ok

Sound quality of the final interview was terrible, I had to turn it off because it was irritating.

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  • Dr Douglas McElvogue
  • 02-06-2019

Turtles are interesting

An interesting listen giving you the trading information you maybe looking for and the story behind an infamous trading event. Well worth the listen if only for a well researched and presented story. Bonus interview well worth listening to for the lessons learnt.

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  • Mr
  • 31-05-2019

Decent history book, but not a finance book.

I've liked the other Michael Covel books I've read, and it was interesting to hear about the famous social/economic experiment that was the basis for his other writings, as well as the basis for a great deal of trading legend. Only a small portion of the book is actually about the practical take-aways for an active trader however. As long as you approach it as a book about history and not a book of trading tips - you'll enjoy it.

Narrator is fine.

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  • Stephen ryng
  • 21-04-2019

Why isn't this story mainstream??

Another gem from Michael Covel, the amount of depth this book goes into with such an inspiring story is amazing. Why this story isn't a film is beyond me. It would be a blockbuster! The interview with Jerry Parker (one of the original turtles) is an absolute treat!
Let's give 'Trend Following' a listen, I'm on a Covel wave!

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  • Chase
  • 01-02-2019

Work Smarter

This is a great book, full of investing advice though you will have to listen and replay a few times to truly absorb everything. While the lessons are surprisingly simple, it goes against a lot of the investment advice out there. It's a mindset, so you will either agree or disagree with it. In addition to the investing advice and rationale, I enjoyed the bonus material that gave an update on each turtle trader and where they are today. I'm a full time trader and I found some great nuggets in this book. I highly recommend it. The turtle experience happened some time ago, but the premise is timeless. That's what makes this book so good. You can apply it in good markets and bad. It just works.

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  • Miss Lisa J mitchell
  • 30-06-2018

Good <br />stuff

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