The Complete TurtleTrader
by Michael W. Covel
30 min 55 sec
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Book Summary
Michael W. Covel’s The Complete TurtleTrader chronicles Richard Dennis’s experiment to turn 23 novices into millionaire traders in the 1980s. His trend-following system, built on disciplined rules, proved anyone could win in markets with the right framework. The book details the Turtles’ training, their mechanical trading rules, and the mindset that drove their success.
Key Concepts:
The Turtle system relied on trend-following: buying breakouts at price highs or selling at lows to capture big moves. Covel explains the rules, simple, repeatable, and emotion-free, covering entries, exits, risk management, and position sizing. The book explores how Turtles traded commodities, currencies, and stocks, and why discipline trumped talent. It also shows the system’s relevance today for navigating volatile markets.
Why It’s a Must-Read:
This is a no-nonsense guide to systematic trading. Covel delivers a clear, actionable blueprint for building disciplined strategies, making it essential for traders who want to cut through market noise and focus on what works.
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