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

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

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:

Curtis also provided an account on how the stop loss is devided.I was quite all right with the first part. Probably I am not so tuned to a more complex system of stop loss that I find it relatively hard to understand. To be honest, I have bought his episode 2 "the mind of the turtle" before I bought this. It is only until I reached the part on his stop loss system that I am lost. To date, I still can't figure out. I was very facinated with the mind of the turtle which helps to prepare one psychologically on trading. While "The mind of the turtle" was quite easily available, it was harder for me to find this one.By the time I found this book, I was full of enthusiasm, if book two provides so much insight on the mindset, what would book one be containing, afterall, it must be a good response on book 1 to result in book 2.Book one provides an oversight of the type of traders in this market, not only that it also gives a brief account on how each group of traders device their entry and exit strategy.

It doesn't mean you shouldn't do it, it means you should know what you are doing. A great book in many ways. But I also want to warn you that if you are considering using the strategies described in this book, think about the author himself was living paycheck to paycheck 20 years after he learned the full strategies described in this book.

He also does an admirable job of showing the flawed thinking that may cause one to mistakenly believe that he has a robust system. However, the book's real value is that it shows how the principles are timeless and can be adapted for any market. when in fact it is in the end a losing proposition.In all, I think this is one of the top five books on trading I've ever read, and I have a pretty extensive library.Happy Trading. I'm so impressed with this book I have to give it my highest recommendation. Curtis Faith takes the most important parts of trading and boils them down for both the novice and highly experienced investor.Curtis does in fact reveal the actual trading rules that he used as the Turtles' most successful member.

I do think traders should read this book if only to look for their bad trading habits. This is a good book. No great revelations just good packaging of trading advice.

The examples he uses are geared more to breakout or trend trading strategies so no examples in here for the relative value trader although the concepts are applicable. trending vs oscillating) and building a rigorous framework for entry and exit based on back testing. The turtles are legendary in their success in trading. This book is concise and accessible; you will get a basic introduction to technical indicators but the focus is more on understanding the market context you're in (i.e. I plan to keep this as a ready reference to refresh first principles in trading. Curtis provides a great deal of insight into both the rigor and mindset required to be a successful trader. He lays out a very straightforward approach to developing a trading framework and focuses on removing the discretion from trading strategies.