zupcon
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after reading it, how do i still trust it? they say turtletrading.com and all other systems are fraud, how can i still trust originalturtles.com ?
one obvious solution is to run a backtest and evaluate the results for yourself
Hello there,
I would suggest reading The Way of the Turtle by Curtis Faith. When you say 'trust' what do you mean? You haven't given the turtles your money have you? Trust yourself. The systems they used aren't holy grails, they're actually quite simple. Consistently executing a system is the hardest part. I totally believe the whole turtle story, I don't find any parts of the whole turtle thing unbelievable. Just people trading a system.
I would suggest reading The Way of the Turtle by Curtis Faith. When you say 'trust' what do you mean? You haven't given the turtles your money have you? Trust yourself. The systems they used aren't holy grails, they're actually quite simple. Consistently executing a system is the hardest part. I totally believe the whole turtle story, I don't find any parts of the whole turtle thing unbelievable. Just people trading a system.
stevespray
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All the genuine turtles stuff is available for free.
Steve.
Steve.
fibonelli
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I have a copy of this document too. An interesting read!
since the previous link above is outdated...here is a new one with the turtle rules...
http://www.trading-lab.com/forums/turtle_trading_rules-t316.html
http://www.trading-lab.com/forums/turtle_trading_rules-t316.html
Rhody Trader
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Many of the Turtles had audited performance figures published after they finished the program in anticipation of potentially managing money for themself afterward, so the results are legit. Which isn't to say the methodology is what you're necessarily looking for. They used a 100% trend following approach which can produce excellent results over time, but definitely has some severe drawdowns.
The only complete view of the Turtles, rules and all players, is found in "The Complete TurtleTrader":
Amazon.com: The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires: Michael W. Covel: Books
Amazon.com: The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires: Michael W. Covel: Books
Sorry that book is a complete waste of money written by a slime ball internet marketeer cashing in on the turtles.
Also, the author seems to have a personal vendetta against Cutis Faith. Remember that Curtis was an actuall turtle, he walked the walk and talked the talk. What credentials or authority has Michael Covel got?
For a much better view on the turtles and trading try:
Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders: Amazon.co.uk: Curtis Faith: Books
Also, the author seems to have a personal vendetta against Cutis Faith. Remember that Curtis was an actuall turtle, he walked the walk and talked the talk. What credentials or authority has Michael Covel got?
For a much better view on the turtles and trading try:
Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders: Amazon.co.uk: Curtis Faith: Books
trendie
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I have Covels "Trend Following", and got me into looking at the markets in a structured way.
(one of the earliest trading books I ever bought)
However, it has a generalistic style, with lots of stories and anecdotes, but little real information.
a better read would be Curtis Faiths "Way of the Turtle". It is full of methods of analysing your trades, and the pitfalls of curve-fitting. There seems to be more "real" information in Faiths book than Covels, and thus would recommend Faith over Covel.
The biggest problem with trend-trading is the taking of many, many, small losses, waiting for the big move. Discipline is the key skill here.
The rules can be found freely.
(one of the earliest trading books I ever bought)
However, it has a generalistic style, with lots of stories and anecdotes, but little real information.
a better read would be Curtis Faiths "Way of the Turtle". It is full of methods of analysing your trades, and the pitfalls of curve-fitting. There seems to be more "real" information in Faiths book than Covels, and thus would recommend Faith over Covel.
The biggest problem with trend-trading is the taking of many, many, small losses, waiting for the big move. Discipline is the key skill here.
The rules can be found freely.
The true story of the Turtles, including the true story of Curtis Faith, is only my book "The Complete TurtleTrader":
Amazon.com: The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires: Michael W. Covel: Books
I am not surprised that exposing the truth makes some people uncomfortable or even angry filled with insults. My background is freely available here:
Michael Covel: Trend Following Manifesto
Amazon.com: The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires: Michael W. Covel: Books
I am not surprised that exposing the truth makes some people uncomfortable or even angry filled with insults. My background is freely available here:
Michael Covel: Trend Following Manifesto
Trendie I am not sure what you mean by "real" information, but the book you mention, for example, does not name another Turtle by name. The book you mention does not list the month by month performance numbers of the Turtles while trading for Dennis. The book you mention does correctly name Jerry Parker as the most successful Turtle. The book does not trace what happened to the Turtles over the last 25 years showing why some were winners and some were not. The book you mention does mention that Curtis Faith's only money management firm after the Turtle experiment ended in a CFTC investigation and major losses. I can go on and on. Yelling "fire" when people can clearly pick up my book and see that your statements are factually off makes little sense.
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