The Complete TurtleTrader by Michael Covel, is the story of “How 23 Novice Traders Became Overnight Millionaires.”
And by the way…
In case you missed it, I recently did another book review of Michael Covel’s other book, Trend Following. I’m very happy I read both of these books around the same time. So if you’re interested in The Complete Turtle Trader you may want to check out Trend Following too.
The Complete Turtle Trader is basically a story of applied trend following. If you’ve never heard of this book, you’re going to be amazed by the story behind it. And best of all, it’s all true!
Curious yet? Great. Then let’s get into the details. I’m excited to tell you what The Complete Turtle Trader is all about.
Summary of The Complete Turtle Trader:
The Complete TurtleTrader is a fascinating true story about a bet between trend following traders William Eckhardt and Richard Dennis. Similar to the movie Trading Places, the two trend followers bet whether or not successful trading could be taught or if it was something you were born with.
It was the ultimate nature vs. nurture debate, when it came to the world of trading. And The Complete Turtle Trader is the book that captures this story. It’s fascinating.
The book starts out by profiling Richard Dennis, an eccentric and successful commodity trader. You learn who Rich is, and how he’s making so much money in the commodity pits. From there…
The book then moves on to how Richard Dennis had the idea for the turtle competition with his colleague William Eckhardt. In detail, The Complete Turtle Trader reveals how the new trades (referred to as turtles) were identified, interviewed and hired. It explains how they were trained. In detail.
From there, the book continues on over the course of the turtle experience. And the results are nothing short of astounding. Finally, the book wraps up by showing where the turtles are today. It’s a round trip in history’s greatest trend following experiment. I very much encourage you to check it out.
But that’s not even the best part:
The Best Part of The Complete Turtle Trader:
The Complete TurtleTrader was a great book. I had a tough time putting it down. But there was one part of the book that absolutely blew me away.
In chapter 5 of The Complete Turtle Trader, Michael Covel actually reveals the exact trading systems that the turtles used to build their multi-million dollar fortunes.
I couldn’t believe it.
It seems like traders and investors are always looking for the best way to find stock trading ideas. And here, hiding in plain sight, is a proven system that consistently generated double-digit returns.
Why aren’t more people talking about this?
For this reason alone, I would recommend that you buy The Complete TurtleTrader as soon as possible. In all the investment books I’ve read, nowhere else have I seen a detailed trading system like this that’s simple, straightforward, and they work!
And to be honest…
As was the case with my Trend Following book review, I am struggling to find something negative to say about The Complete Turtle Trader.
Maybe you could argue the book is a short summary of a very detailed story. And I wouldn’t be complaining if it were a little bit longer. But if that’s the biggest problem with this book then I think I can give it two thumbs up.
On that note…
The Complete Turtle Trader – The Final Word:
The Complete Turtle Trader is a wonderful book about how trend following can be applied. I seriously recommend that if you have any interest in technical trading you check out The Complete TurtleTrader on Amazon.
Of course, if you want more information about The Complete Turtle Trader, you can also check out the video book review below.