Trend Following Course on Turtletrader

[tradermonkey2000]

Has anyone taken the course offered on turtletrader.com, or have an opinion you'd care to share? I've been a futures trader for 6 years so I know my way around the markets but I'm interested in moving away from paying £2500 a month for desk fees to scalp the NFP figures!

 

[foredog]

If it basically follows the original turtles then just find the info online and save yourself £2500, also since you already trade you probably wouldn't need half of the teachings on a course as you already know basics

 

[tradermonkey2000]

Thanks foredog, I think it probably follows the original turtle methodology to some extent although what I'd hope to learn is a more systematic way of trading rather than the totally discretionary way i do things now.

BTW course is $1000- I pay £2500/month in fees to sit down/trade eurex/etc!

 

[sdzh]

My advice would be to steer well clear of Mr Covel. A few years ago, I was also interested in his course. I e-mailed him, asking several direct questions that he did his utmost to avoid answering. Shortly thereafter I found the Turtle rules online. For free.
Mr Covel's entire net presence and literary output is based on funneling traffic to his website and to subsequently generate sales of this trading courses. Very shrewd and very keen on lightening your wallet...

 

[tradermonkey2000]

Actually, I scoured the web and came to the same conclusion re. Mr Covel.

And also found the Turtle rules for free. Have you followed them since your discovery?

After reading through I got stuck on their entry rules:-

System 1 breakout entry signals would be ignored if the last breakout would have
resulted in a winning trade. NOTE: For the purposes of this test, the last breakout was
considered the last breakout in the particular commodity irrespective of whether or not
that particular breakout was actually taken, or was skipped because of this rule. This
breakout would be considered a losing breakout if the price subsequent to the date of
the breakout moved 2N against the position before a profitable 10-day exit occurred.

Does that make any sense to you?

Anyway, thanks for the heads-up.

 

[Calinor]

My understanding of that tradermonkey2000 would be:

"We believe the markets are unlikely to have consecutive winning breakouts. Therefore, if the last one was a winning one, don't trade this one."

 

[retrade]

I took Mr. Covels course and found it to be a total waste of time and money. I felt that it did not offer anything of value relative to teaching me how to "turtle trade". He seems most interested in touting the success of various trend traders that he has interviewed without disclosing any real techniques.

 

[mcovel]

I am easy to reach. If anyone has any questions or concerns please feel free to drop me a line:

http://www.michaelcovel.com/contact-michael-covel/

 

[Jason101]

I took Mr. Covels course and found it to be a total waste of time and money. I felt that it did not offer anything of value relative to teaching me how to "turtle trade". He seems most interested in touting the success of various trend traders that he has interviewed without disclosing any real techniques.

That's interesting. Thanks

 

[hedgedequity]

If you see that it follows the original turtles then just find the information online and save yourself 2500 pounds and moreover because you have so many years of experience which means you hardly would need half of the teachings on a course as you already are aware of the basics.

 

[Liew5035]

I took Mr. Covels course and found it to be a total waste of time and money. I felt that it did not offer anything of value relative to teaching me how to "turtle trade". He seems most interested in touting the success of various trend traders that he has interviewed without disclosing any real techniques.

What is covel trend following strategy?

 

[NVP]

having read a lot of michael covels work he is certainly an entrepreneur ......i would hazard he has done far better selling books than trading over the years

and good luck to him

N

 

[Liew5035]

having read a lot of michael covels work he is certainly an entrepreneur ......i would hazard he has done far better selling books than trading over the years

and good luck to him

N

What is his entry and exit strategy?