| The Complete TurtleTrader: The Legend, the Lessons, the Results | 
 enlarge | Author: Michael W. Covel
Publisher: Collins Business
Category: Book
List Price: $25.95
Buy New: $9.34
You Save: $16.61 (64%)
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Avg. Customer Rating:  72 reviews
Media: Hardcover
Number Of Items: 1
Pages: 272
Shipping Weight (lbs): 1.1
Dimensions (in): 9 x 5.9 x 1.1
ISBN: 0061241709
Dewey Decimal Number: 332.6440973
EAN: 9780061241703
Publication Date: October 1, 2007
Availability: Usually ships in 1-2 business days
Condition: Brand new, ships next business day, check out my feedback, may contain publishers mark.
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| Customer Reviews:
 Interesting strory but no trading method described. November 13, 2008
2 out of 3 found this review helpful
Based on the title "The complete Turtle Trader" I was expecting more than a story describing the different participants, results and trading personalities. The book did not discuss the trading methodology in any details that can allow an average trader to duplicate. Most of the Rules were general in nature, for example "buying new breakouts" "being comfortable in shorting the market" "stop watching TV and base your trading on price action, i.e., open high low close". A more detailed description on risk control and money management is given but not much different than you find in other books.
The last 40 or so pages are a compilation of trading results with the appendix.
One interesting point is that Turtle Traders in most cases were not using their own money which takes out the emotion from trading and this could be the reason for their success. A feature that cannot be duplicated by someone trading their own money since emotions always tend to get in the way.
Nevertheless it is an interesting read and for that reason the 4 star rating
 Good read August 27, 2008
1 out of 1 found this review helpful
Good book. A lot of traders get caught up in the fundamental garbage, especially when they start out. Focusing on the noise just takes your attention off of what really matters - making money. I can't cant the number of times when a crop report comes out that supports my bias on the market, only to see the market move the opposite direction. The author did a great job of showing a simple system that performs over time. Too often we trade to feed our ego, not to make money. I don't know about you, but I just want to make money. The easiest way to do it is to follow the method that others are using to make cash. This book outlined the strategy and showed how others are doing it right now. It almost gives you the edge because you don't have to do the research on what everyone else is doing. This book straightens out the learning curve.
Another excellent book August 23, 2008
Congrats - All the basics are right in front of the reader... The info in this books gives the serious reader a basic structure, and allows them to then build their own personalized methods around a time proven concept.
Eastern Research & Trading
Bill G. / Singapore
Very good and still works August 18, 2008
1 out of 2 found this review helpful
It looks like ideas from this book still works. One of the interesting example of similar approach - Alexander Rezviakov in Russia, whose approach very similar to approach in this book. Even ideas like "...looking at the news for decision-making cues was the wrong thing to do.". Very interesting, that Alexander start his public lectures about a year before this book was published.
Maybe Donchinan's channels are old-fashioned nowadays, but main idea - turn off TV, focus at the price, catch the trend, use stops and some other - is still is up to date.
 Nature vs. nurture July 18, 2008
1 out of 1 found this review helpful
The book will be very interesting for readers who are new to trading literature and moderately interesting to those who have already read about trading, and trend trading in particular (I've read the author's magnum opus "Trend Following" and recommend it strongly).
As to the guide motive of The Complete Turtle Trader I wasn't convinced that "The Turtle experiment proved that nurture trumps nature" as the author states repeatedly. Why?
1/The Turtles were recruited not randomly but in a careful selection process. Clearly, they were perceived by R.Dennis as candidates having certain natural potential to become traders when nurtured/trained.
2/Turtles didn't risk their own money which seems the number one obstacle to trading success - a psychological one, it is called fear, while all the Turtles had to fear was not following through on job description provided by R.Dennis and W. Eckhardt, helpful indeed, although still not an easy task. Why only a small minority of the original group remained successful traders, or traders at all, after the experiment was over(many turned school teachers we learn)? In my opinion the conclusive experiment started rather then ended when the group got disbanded.
3/This point is less important than the earlier two - Turtles didn't develop their methods which is an intellectual challenge, in fact less formidable than the psychological challenge of trading, and also weren't faced with the question whether or not to adjust their methods when and if markets changed. As far as I know the 20 day breakout they applied with success during the time of the experiment doesn't work nearly as well as it did (famous L.Raschke, one of J.Schwager's Market Wizzards, has coined the name "Turtle Soup" for one of her trading setups - fading the 20-day breakout.
In conclusion: narture alone can very often be insufficient to become and remain successful at trading.
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