The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires

The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires is written by Michael W. Covel. It is a non-fiction account of Richard Dennis, the group known as the Turtles, and the trading rules they were taught.

Key details

• Author: Michael W. Covel
• Centres on Richard Dennis and the traders known as the Turtles
• Draws on on-the-record interviews with individual Turtles
• Explains how recruits were interviewed, selected and trained
• Sets out the Turtle system and rules in full

Synopsis

Richard Dennis, a Wall Street trader who built his fortune using a small set of rules, set out to prove that successful trading could be taught. He placed a classified advert in the Wall Street Journal to find novices, then trained the recruits for two weeks before sending them out to trade with one million dollars each of his own money.

Covel recounts how the group’s members came from non-traditional backgrounds and documents their education and experiences while working for Dennis. Using interviews and detailed explanation of the method, the book follows the experiment’s results and traces what happened to the Turtles afterwards, including those who went on to become hedge fund managers and those who passed the approach on to a second generation.