Reviews of The Complete TurtleTrader: here.
What Critics Said
“Most beat-the-market books aren’t worth my shelf space. This one is.” — James Pressley, Bloomberg
“If you want to beat the market, you have to do something different from what everyone else is doing, and you have to be right. In this fascinating and instructive book, Michael Covel tells how a group of novice traders used a system that generated trades that were both different and right, and which made them a lot of money. If you want to understand the real world of trading, read this book.” — Bill Miller, Chairman and Chief Investment Officer, Legg Mason Capital Management
“Covel so clearly lays out the ingredients of success, his book is relevant not just to trend traders, but to anyone who aspires to greatness in the markets.” — Brett Steenbarger, author of The Psychology of Trading
“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.” — Barnes & Noble editorial review
What Turtles Said
“The book was wonderful…” — Michael Shannon, Turtle
“Book is very good…thank you for going for the truth and objectivity.” — Lucy Wyatt, Turtle
“I can say that after hearing the turtle story many times from many of the people that are part of the story and after reading many articles about such story, this is by far the most entertaining, inspiring, extensive, and honest story of the turtles I have ever read.” — Francisco Vaca, Second Generation Turtle, Associate with Turtle Paul Rabar
What Readers Said
“I read The Complete TurtleTrader first. I couldn’t believe it. I was just as average as some of these people. I thought ‘Hey, I can really do this!’ This was almost shocking that these people with two weeks of training were able to make so much so easily.” — Reader testimonial
“Hi Michael, I read the book The Complete TurtleTrader and was blown away. What a great story. I have been trading for a few years and the system they used has clicked the light on for me.” — Mark L., Boston Fire Department
“I am now, after 5 years, a competent (not yet wealthy, but soon) online FX trader, with trend-following a major component of my technique. I somehow found my way 5 years ago to your website…and it has made the difference.” — Reader testimonial
About the Book
In 1983, legendary Chicago trader Richard Dennis placed a small classified ad in the Wall Street Journal, selected 23 complete beginners, trained them in his trend following system over two weeks, and watched them generate over $100 million in profits. For two decades the full story remained buried in legend, rumor, and competing accounts. The Complete TurtleTrader by Michael Covel is the book that told it in full for the first time, with the first-ever on-the-record interviews from the participants themselves.
The book documents the complete arc of the TurtleTrader experiment: the nature-versus-nurture debate between Richard Dennis and his partner William Eckhardt that started it, the selection process that chose 23 people from over 1,000 applicants, the trend following rules they were taught, and the dramatically different outcomes each TurtleTrader achieved after the experiment ended. Some became billionaires. Others failed despite having identical rules and identical starting conditions. The book examines why.
The trend following rules Dennis taught are laid out in detail. So is the psychological and philosophical framework he used to develop them. The Complete TurtleTrader has been translated into German, Japanese, Chinese (Traditional and Simplified), Korean, and Russian.
Buy The Complete TurtleTrader on Amazon.
Frequently Asked Questions
Is The Complete TurtleTrader suitable for readers with no prior trading knowledge?
Yes. The book reads as financial journalism rather than a technical manual, making it accessible to readers with no prior trading knowledge while remaining substantive enough for experienced practitioners. As Brett Steenbarger noted, it is relevant not just to trend traders but to anyone who aspires to greatness in the markets.
Does the book include the actual TurtleTrader trading rules?
Yes. The trend following rules Dennis taught his students are documented in the book. For a direct reference, the core rules and philosophical framework are also covered on the Rules page of this site.
Who should read The Complete TurtleTrader?
Anyone with a serious interest in trend following, trading psychology, or the history of systematic trading. The human story of why some TurtleTraders succeeded while others, given identical rules and identical starting conditions, did not, is one of the most instructive accounts available of the psychological requirements for trading success.
Trend Following Systems
Want to learn more and start trading trend following systems? Start here.
