| The Complete TurtleTrader: The Legend, the Lessons, the Results |  | Author: Michael W. Covel
Publisher: HarperBusiness
Category: Book
List Price: $25.99
Buy New: $5.75
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Seller: amazing_books1
Rating:  115 reviews
Sales Rank: 76,672
Media: Hardcover
Pages: 272
Number Of Items: 1
Shipping Weight (lbs): 1.1
Dimensions (in): 9 x 5.9 x 1.1
ISBN: 0061241709
Dewey Decimal Number: 332.6440973
EAN: 9780061241703
ASIN: 0061241709
Publication Date: October 1, 2007
Availability: Usually ships in 1-2 business days
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| • | ISBN13: 9780061241703 | | • | Condition: New | | • | Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed |
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Product Description
We read constantly about the men and women who make nine- and ten-figure fortunes in the markets-the Warren Buffetts, Paul Tudor Joneses, and Michael Milkens of the world. Do they have some incredible gift the rest of us lack, an ability to make cool decisions under fire when we let emotion get in the way, to coolly assess the impact of each trade as though millions -- or billions -- of dollars aren't riding on the next click of their mouse? 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.
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| Customer Reviews:
Showing reviews 1-5 of 115
 A Trend Follower Who Loves This Book August 30, 2010
C. Oliver (Worcester, MASSACHUSETTS United States)
I'm a trend follower and a chartist and trade options, I've turned 30,000 dollars into over 400,000 dollars in a year and a half to date. I think that like futures, options with an expiration date on an underlying asset, offers an interesting way to view the market. Some of my biggest moves were simply following the trends, and investing ten percent of my capital in 3 to 6 month calls. My biggest winner being Priceline, which I was in with 20 front month calls at 240 when it was rising from it's bottom, I scaled out of the trade with a little less than 70,000 dollars in profit to secure profit.
I remember finding this book when I was just getting started in the markets. I started off with Trend Following by Michael Covel, which in my opinion is a masterpiece and quentisential for anyone who wants to do anything that involves Technical Trading, it is one of those books that should be selling at 150 dollars but is selling at 18 dollars, it could sell at a 1,000 and still be worth it. This book has a great amount of information. For the trader side the entire section on the Turtle method is astounding. I think the entire story reads with such reasearched insight that it's hard not appreciate the work that Michael Covel put into writing this masterpiece.
I've used many of this books methods on the stock market with great success, you obviously have to modify some rules, and make the system work for you, because, though this system is brilliant and probably could make anyone a millionaire in the market, everyone is different, and fixing a system to work for you, at your level of risk, can add to your success or your failure. The major thing to always remember, as this and any book on trading that's worth it's merit tells you, buy when whatever you're trading is rising, not when it's falling, and cut your losses if it starts to turn against you.
Fascinating and insightful August 15, 2010
Christopher Chamberlain
I had never heard of the turtles until I started searching Amazon for trading books. I thought it might be an entertaining read but I was definitely surprised by how good this book actually is. I had a hard time putting it down. The story is interesting and the trading philosophy is a confirmation of a lot I had been working on. This is worth your time if you're interested at all in trading.
 Great literature and info on the Turtles July 8, 2010
Straddle1985 (Belgium)
I was first introduced to the Turles experiment in Way of the Turtle, from Curtis Faith. I really liked his book, and can honestly advise that book to everyone interested in the Turtle experiment. At first I was a bit afraid I would read a lot of things I already knew from Faith his book.
Luckily for me this book didn't bore me. In fact, I could not even put it down at moments when I was reading it. I just had to read further, to see how the Turtles would trade further. The last time I had that was when reading Nicholas Darvas his first book.
Back to this book. The meat for me is in chapters 4 and 5. I think most people will be able to read those chapters and understand/replicate the two systems. Another great point is the endnotes section. Michael Covel did not just fill this book with things he knew or found out on the Turtles, he actually gives the source of his information. Although this is pretty normal in academical works, I rarely find this back in books on trading.
The author also doesn't try to sell or promote the Turtle system to you, nor does he minimizes the blow up of the Turtles succes. In chapter 8 (Game over) a full chapter is devoted to that.
What I also found very nice are the interviews of citations from William Eckhardt and Richard Dennis. Although these guys are pretty known in the trading world, I have not yet found much literature on them.
The best Turtle Trader book available June 25, 2010
Ryan
Out of all the 'flavours' of Turtle Trading books; this one is by far the best one I have read.
The book tells the story behind the Turtles. Who they were, what they did and then there experiences of being a Turtle. It gives insights into the system used by the turtles which then opened my mind to investigating my own personal turtle trading system.
This book was recommended to me by a proven successful trend following trader in Australia. He has built his own long and medium term systems based on this turtles system. I know for a fact that this guy keeps a copy of this book on his desk and refers to it on a daily basis, even if it is just to reassure him when the going gets tough.
Don't expect to be spoon fed "buy stock XYZ when its price breaks $X...". You will however learn so much from this book! Especially recommended for those who are just starting in your trading journey.
Great story book. Not a learning/investing book June 24, 2010
André Veloso (Carcavelos, Portugal)
2 out of 2 found this review helpful
Yes, this is the best, well-researched written story on the turtles. You can't find anywhere else. It is a great book for any person curious to know about this great experiment, and also about Richard Dennis, which was not much written about except a few newspaper articles from the 80s.
It not only tells the full story from the beginning, the recruitment process, what Richard and Eckhart thought, what kind of people were selected, and why some failed. The pros, the cons, the difficulties of implementing, of following the system Dennis gave them. The extreme importance of the psychology and attitude of each trader to its success.
And it teaches the system! Detail by detail. But it's not the point of the book, and it's not ultimately what matters for the success (for more about that you should read Trend Following).
This is NOT an how-to investing book, not a learning book. And you shouldn't buy thinking it has some kind of magic formula. It's much more of a trader's journey to success than anything else.
Showing reviews 1-5 of 115
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