There's been quite a lot of discussion about Turtles - the consensus is that it's a waste of time and money as there are much better methods around now.
If you use the search facility here, you may come across some of the threads.
Remember, if the system worked they'd be relaxing on a tropical island, not flogging it to unsuspecting people for £2,346. The link posted above contains what purports to be the real turtle trading rules, so hopefully we've all saved you some dosh!
hi, i think there is a spate of these higly expensive seminars going out like the russ whitney property seminar, vince etc
you are better off sticking to champion trader and using this money to make your own bets, cfds etc at least you know thaat you have a chance of winning
If you havn't learnt the "Basics" and understand them you will not beat trading by buying any system - Get the basics inbuilt into your very bones. There is only one way - its called hard work experience and study - Listen to no-one selling the holy grail but pay to get a good grounding.
For those who haven't heard about the Turtle Trading methodology it was a bet between two traders.. one said that it is impossible to teach people a system to trade and the other said that it could. The system taught was extremely successful but the system shrouded in mystery!! All the 'turtles' as they were known didn't give! There's an interview in the New Market Wizards book for those interested.
Anyway, found a link with the Turtle system to download.. woo hoo!
to tell the troof, there's better trading systems out there
although, i kinda use the same stop loss strategy, ie working out the 20 day true range average blah
the thing with Turtles, it's really a long term strategy and one that requires a lot of patience, and a sizeable account, and the willingness to stand a high percentage of losing trades whilst waiting for that one 'Big Trend' payday
Is it?? I only just found it!!! Maybe we should have a page where we can post links! I used to have a link to get free intraday backdata but since my computer went down and i had to reinstall everything, I haven't been able to find it
The Turtle system is strictly not about trading a single market or index, but about trading a basket of largely uncorrelated securities. Yes - the Dow can be traded using the Turtle system, but you may have to wait a very long time to make a net profit and will suffer long drawdowns.
For those interested in learning the truth about the Turtle system, I would highly recommend backtesting the system across a portfolio of uncorrelated markets. Testing just one market (the Dow) will not give you a realistic understanding of the systems performance. VeriTrader backtesting software will let you do this without needing any programming skills or knowledge - http://www.turtletradingsoftware.com/
Thanks for the link although interestingly enough and by pure coincidence, I bought this book a few weeks ago. Interesting read although the traders profiled I still wouldn't put in to the category of day traders
The Turtle system became so widely known, the pro's developed strategies to fade the system - knowing there will be orders at 20 and 50 day new highs/lows. Examples are LBR's Turtle Soup set up.
Yet another reason why backtesting is a waste of time - as soon as something starts to work, the markets change. If making money was as easy as buying tradestation and doing hundreds of backtests to find the profitable/ultimate signal, you'd all be rich. The fact that everyone wants to backtest tells me you're not there yet - or you wouldn't need to backtest!