In this book, Covel has been able to flesh things out not just in a kind of history text sort of exposition, but one which includes a great many comments and anecdotes from the participants. It is a tale which really explores the whole perspective of life as a Turtle. The first impression one gets from the book is quite favorable. It is an attractive format, and a pretty easy read, though well written and detailed. The primary text is about 200 pages, which I got through in a single afternoon . And the price tag is extremely reasonable for a hardcover trading book, much lower than what you often see.

  • The primary text is about 200 pages, which I got through in a single afternoon . And the price tag is extremely reasonable for a hardcover trading book, much lower than what you often see.
  • Dennis believed so strongly in his ideas that he would actually give the traders his own money to trade.
  • Please let me know if you need more information to respond to my question.
  • The method seems to apply to a variety of markets, including such diverse securities as Kansas City Wheat Futures, the Dec. 2006 Eurodollar Futures and Japanese Yen futures.
  • To be successful you need to keep a high proportion of your gains.
  • I have been trading for a few years and the system they used has clicked the light on for me.

It sounded like it was one of the best kept secrets in town! I always thought it was about who had the brains, but that only gets you so far in getting to be a great trader. Thank you very much for your excellent books, website and work to “spread the word”. I first met/listened to Michael speak at an investors’ conference several years ago, and that was one of the most useful sessions I have ever sat in at ANY conference (and Currencies forex I’ve been to quite a few in my career)! I am still a novice and trend following doesn’t come naturally to a traditional/”fundamentals”-based stock investor, but Michael’s work has definitely been an eye-opener. Michael, I have only read your books but I think they are as good as they come in finance. They are as good, if not better, than the Market Wizards books by Schwager and Leferves “Reminiscences of a stock operator”.

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He had turned an initial stake of less than $5,000 into more than $100 million. He and his partner, Eckhardt, had frequent discussions about their success. Dennis believed anyone could be taught to trade the futures markets, while Eckhardt countered that Dennis had a special gift that allowed him to profit from trading. 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. Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money.

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After reading this book trading is now less complex for me as it was very difficult for me to do it. Mostly people like to get Australian Writings help online to finish their assignments on time. People who want to be trader they need to read this book meticulously because there are useful things which are shared in it. Quite apart from enjoying the ride, this must also count as one of the most inspirational trading books ever written. The story is quite literally proof that anyone -anyone! Ok, anyone with a modicum of discipline and intelligence – but that includes you, right?

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First, do you start counting new highs after the price crosses over the moving average or do you base the count on the price itself? Second, once engaged in a new position and you get stopped out, do you continue to enter again endlessly after a new high or low has been made? I only ask this due to the fact that many trends that the original turtles looked for were not successful. Due to this fact, should a trader continue to to enter the market taking huge losses for a possible trend that may never materialize? Anything that you can do for me in this regard would be greatly appreciated.

In the end, to their detriment, people are always risk-adverse toward gains, but risk-seeking toward losses. This real-life apprentice story would still be buried had I not randomly picked up the July 1994 issue of Financial World magazine, featuring the article Wall Street’s Top Players.

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Do you ever think the stories you hear about great trading, and the gains produced, sound like luck? Do you ever wonder if there is a real method and philosophy behind the The Complete TurtleTrader Review success stories? The concepts condensed into Trend Commandments were gleaned from Michael Covel’s 15 years of pulling back the curtain on great trend-following traders.

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I was hoping that you would be willing a able to provide the script you used for one of the systems you tested in Trend Following using Wealth Lab Pro. I think if I had a script to look at I would be able to derive how to create my own. Thank you very much for your time and your assistance, as well as writing wonderful books. Dear Mr. Covel, Between last Christmas and the New Year I reviewed my trading in 2009. My main account trades options delta neutral, theta positive strategies and it went flat. I have to say this result is really not bad as it’s mostly a trending year. I have a famous mentor on this and have seriously traded it for three years and am still not successful.

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This was unheard of at the time , since great moneymaking trading systems were always kept under lock and key. The ad invited anyone to join one of Chicago’s most successful trading firms, making experience optional. It was as if the Washington Redskins had advertised open positions regardless of age, weight, or football experience. However, as someone not there in 1983, I knew the task of telling a complete story from an objective vantage, with so many competing characters and competing agendas, was going to be a serious challenge.

Information contained herein is not designed to be used as an invitation for investment with any adviser profiled. All data on this site is direct from the CFTC, SEC, Yahoo Finance, Google and disclosure documents by managers mentioned herein. We assume all data to be accurate, but assume no responsibility for errors, omissions or clerical errors made by sources. Trend Following™ markets and sells various investment research and investment information products. Readers are solely responsible for selection of stocks, currencies, options, commodities, futures contracts, strategies, and monitoring their brokerage accounts. Trend Following™, its subsidiaries, employees, and agents do not solicit or execute trades or give investment advice, and are not registered as brokers or advisors with any federal or state agency. I do believe that even non-traders will enjoy reading this book, but if you are a trader, then this will be a 5 star any day.

He eschewed publicity about his net worth even though the press speculated about it extensively. ¹ Perhaps he was reticent to focus on his wealth because what he really wanted to prove was that his earning skills were nothing special. He felt anyone could learn how to trade if taught properly. Yet making big money, beating the market, is doable if you don’t follow the herd, if you think outside the box. People do have a chance to win in the market game, but he or she needs the right rules and attitude to play by. And those right rules and attitude collide head-on with basic human nature.

Michael, I am not a well known trader, but I do credit your two books, along with Jack Schwager’s first two Market Wizards books, as being essential to my transformation into a consistent, winning trader. Back in 2008, I was a recent college graduate employed at the world’s largest mutual fund company. While earning my Series 7 trader license, my job was to talk to students all day on the phone and provide them with whatever service they required. Consequently, I was the reassuring, “voice of reason” they would hear when they called us during the Fall 2008 market collapse. As a result of this experience, I vowed never to let myself get into that situation.

If you love reading, but for some reason you read less and less, know that everything is fine. Perhaps most stunning was that C&D Commodities was going to teach proprietary trading concepts.

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I wanted to use your expertise since you seem to have the most experience in this area. I have the FX system and about $10,000 to trade it live. I think this is feasible due to the capabilities to trade mini lots, while using money management techniques. Please advise… Sorry if I am a pain in the neck, but I want to be on the right Foreign exchange market track as I want to trade for a living. Greetings, I have read and very much enjoyed both your ‘Trend Following’ and ‘Complete TurtleTrader’ books — how refreshing to find such clear, concise, no bull analysis. I am interested in purchasing the training but want to make sure it is appropriate for the markets I want to begin with.

Reviews Of the Complete Turtletrader Book

It truely was a once in a lifetime opportunity for these individuals and most seemed to be able to capitalize on their exceptional good fortune. It was interesting to read about some of the traders that didn’t find the same success as their peers. The author and one of the Turtles seem to have some sort of rivalry or feud about some of the details.