Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders

Additional Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders Information

“We're going to raise traders just like they raise turtles in Singapore.”

So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt nearly 25 years ago. What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety.

Way of the Turtle reveals, for the first time, the reasons for the success of the secretive trading system used by the group known as the “Turtles.” Top-earning Turtle Curtis Faith lays bare the entire experiment, explaining how it was possible for Dennis and Eckhardt to recruit 23 ordinary people from all walks of life and train them to be extraordinary traders in just two weeks.

Only nineteen years old at the time-the youngest Turtle by far-Faith traded the largest account, making more than $30 million in just over four years. He takes you behind the scenes of the Turtle selection process and behind closed doors where the Turtles learned the lucrative trading strategies that enabled them to earn an average return of over 80 percent per year and profits of more than $100 million. You'll discover

Offering his unique perspective on the experience, Faith explains why the Turtle Way works in modern markets, and shares hard-earned wisdom on taking risks, choosing your own path, and learning from your mistakes.

What Customers Say About Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders:

That is, you trade as the game progresses. Of course, sports trading truly lends itself to trend trading, as basketball scores go back and forth. It's that good.P.S. : )$2000 later, I think this book to be a total gem. This book and it's author are my guide, and will be for many years to come.

I had never seen this before, in any financial book. As in all matters of life, sometimes a great guide is the key to success. And you truly learn in real time, trading experiences that may take a good part of a life time in some normal financial markets. I suggest a Google of "Betting Exchanges" to get the idea.Using Faith's ideas on system building, I was able to build profitable systems, that work. You got them. Who would of ever thought it was occurring while I was trading basketball.

This cranks the emotional levels to new highs, every basket made is a change of state in the traders mind. I never actually though about building a system previous to this book, to truthfully back test the ideas I was using trading.They work so well, I managed an 8000% return. The obvious lesson is that one should develop or adopt a trading style and go for it.For myself, I am constantly hit by the ideas the book has pointed out.Things like "Recency bias". What I like most, is he is a real trader. LOL.Ok, I just wanted to test the ideas as I readied myself for financial trading. The nice thing is of course, is that you can be on the wrong side, exit a trade, and try be on the right side when the next signal for entry arrives.What is most amazing about this book, is not just the extremely logical and philosophical writing style, it is the system building and testing sections. No margin.

The right side of course, and one wins the wager. As in all trading, trader "A" get's the money from trader "B" and vice versa.Think of sports trading as trading options or stocks, at hyper speed. While not known to many, it is quite possible to earn a couple of hundred thousand a year trading just sports games. Some rules and strategies bear repeating, and he does a fine job to make sure one remembers.As I expand further, testing the limits of places like Betfair, I shall certainly be using this book as a principle guide. That is my goal, and I need good ideas to do it.If a book like this will work and help betting exchange users, I can only imagine it's potential for traders of financial instruments. Just one that is based on a basketball game. Though way outside the norm of American market style trading, they are quite enticing and work with a cash only approach.

Only a profits re-invested approach. As the Laker lead increases or decreases, the share value fluctuates until it maxes out when a game is over at the buzzer. Way of the Turtle is a true work of art. Every state he mentions in the book, is real, I assure you.I had the most trouble getting out of trending trades too early. I used it to trade sports. Paper traders need to be imprisoned.

It's is like a bible to me, it's that good. Anyhow, that is not where it's power is, it is how you read it truthfully, and use the ideas described, that can propel a trading style to the next level. Things one would never think about. They should be, as mentioned, betting exchanges are as real as any financial market, and just as ruthless if not more so. Two hours or so to one bankrupt stock if you are the wrong side. I say this for a reason.I did not use the advice within it's covers to trade financial instruments. It is in the back of book. So betting $1500 on a game to win $300 on a trade, the money is not borrowed.

For example, the LA Lakers are playing the Orlando Magic. Any sport can be traded as well. Not in the normal sense. This book cured that horrible habit.Long-term, I am now converting the system building ideas to other sports.

Want fast moving trends. Want the life of a stock in two hours as opposed to twenty years. Then attack markets. You are your own margin account.

Though not quite ready for an American audience, sports games can be traded in-running. In essence, it is a traded financial instrument. (Unless you have a rich Granny.). No borrowed money. My goal of course, at least 100K per year doing this type of trading.

I am not into the type of author that never traded or are simple journalists interviewing people.It is not the same thing unless you trade. In sports trading, a few minutes may represent a few months in something like a FOREX market.Trading sports has one other thing that is uniquely different. I have also noted reviews where they say no trading system is listed. All the trend trading you read about, and the other ideas in the book, are very real on betting exchanges. Well, ok, I will not get that radical, but you get the idea.I highly recommend this book to anyone, no matter what you trade. While it is a fascinating endeavor to discuss, I will mostly stop there.

I often read certain areas over and over again, to re-enforce the ideas that are working, and to spot failures I may have let creep in.Other areas I am slowly getting into, are fixed odds financial trading and spread betting. So are all the highs and lows traders suffer from, also detailed in the book. Sure. Now, before anyone jumps up and down for joy, I started with $25.

Great reading I have been studying this process for over a year with no knowledge of this book.

Unless you have good trading experience you will not be able to relate much to this book. If this is your frist trading book, it will leave you hazy and confused. The chapters do not build upon one another.

So, here is the inconsistency: "If trading success is an easily taught mechanical process, presumbly not requiring a lot of brainpower to master, why was it so important that the people recruited in to the trading world be so smart." The author implies discipline is the key, not smarts. The inconsistency is woven throughout the book and is essentially the following. The author then comments on trading success and failures throughout the book and seems to repeatedly return to a theme that the most successful traders possessed the discipline to stick with the mechanical trading systems they were given. His primary recruitment critereon was to seek individuals who were very smart, high intelligence, even if they had no real trading experience previously.

This book was of interest to me as it provided some history of the beginning of the trading boom. Yet, he never addresses this contradiction between the setup in the beginning of the book and the main conclusion. Right up through the end he left me the impression that the winners were those who had an almost mindless adherence to the rules of the system they were using. But, it lacks detailed content pertaining to trading, even high-level content for that matter.

Smarts would be enough to become successful. I don't think he is even aware of the gap. But my main problem with the book is that it has one huge inconsistency in it that the author fails to acknowledge, let alone address. In the beginning the author explains how he and other traders were recruited by an experienced trader who believed he could teach successful trading to others.

But as a system trader I found a lot of useful information in this book. I'm very impressed with this book. I don't care about Turtles,secrets,bets on whether one can learn to trade etc.