wise words

Heres one website I have found useful for general trading psychology.

I do not follow turtle trading, but there is a wealth of information on related subjects.

http://www.turtletrader.com/

If you are interested in Turtle Trading, then the rules are below for free.
( the website was apparently set up by successful Turtles who were upset that failed Turtles were selling the so-called system for money - so they described the rules for free !! our kind-a-people :D )

http://www.originalturtles.org/index.htm
 
Yes good stuff!

Thanks andrew for that, I'm going to print that out and stick it by my computer to remind me! I think a lot of that you subconsciously know anyway, especially after blowing your account. And its so true that you can actually read all those nuggets of wisdom but dismiss them as applying to everyone else but not you because you are special! Until.. you blow your account then realise that your not quite such a genius after all. It has taken me 1.8 blown accounts to sit up and take note. But now its got my attention! :)

Thanks trendy for that Turtle trading link... having a look at the system rules now! Very nice of them to give away the system like that! I never realised it was an experiment!! And it just proves that trading can be learned and that following indicators and systems can make you a good trader.

I often wonder though.... if you are following a set of rigid rules are YOU really trading the system, or is the system using you to trade? :) Who cares I say... if I make money either way.

Unlike what socrates and a lot of the traders here think. I dont care about being a perfect trader or about being the best.. or being able to mystically trade by just looking at chart patterns/volume or even a constant flow of raw price data... All I care about is making money! My rule is... if Im profitable Im a good trader! If I follow a system that consistently makes money and I dont have to think and make discretionary decisions.. then all the better. I can devote my life to the most important thing... living, experiencing, being free from the shackles of 9 to 5! I dont want to be a trader so I can be the best trader... I want to be a trader so I can make the most of the time I have on the earth! So I can devote more time to art, music, travel... the things I enjoy, and do it before I get too old. Just because everyone thinks they have to drag themselves into work everyday for the best years of their life, doesn't mean I have to be a lemin and join them.
 
cheers Andrew

interesting link that Im sure we all help all of here on these boards.

p.s hows your trading?, PM me if you want to talk
 
trendie said:
If you are interested in Turtle Trading, then the rules are below for free.
( the website was apparently set up by successful Turtles who were upset that failed Turtles were selling the so-called system for money - so they described the rules for free !! our kind-a-people
Click to expand...
Another view is that the Turtle system became untradeable (as all systems will ) so they manufactured this 'failed Turtles were selling the so-called system for money' scenario so that others, lots of others, would start trading this system so THEY (real Turtles) could start trading THEM. Makes you think...
 
Too complicated for me for this Sunday afternoon !!

As I say I dont trade it, but the website has good pages about psychology, and maths, and about risk.

As with all systems, you must conduct due diligence, and satisfy yourself that the system is viable.

As the andrewmooton website of "bits of wisdom" says, a professional trader accepts responsibiltity for all trades, and doesnt blame others for his/her failings.
 
Interesting thought bramble, very interesting... The proof is in the back testing (and forward testing). If the system does work still and has done recently, then your conspiracy theory might not hold ground. I dont necessarily think that trading is a dog eat dog scenario though.

This is another scenario... give away the system that works so lots of people use it and it creates a buzz (also because of its fame), then the original turtles trade the exit signals. e.g. everybody goes long and looks for a particular signal to exit, at that particular point the originals would go short! Everybody wins.. and its all warm and cozy :)
 
pkfryer said:
Yes good stuff!

Thanks andrew for that, I'm going to print that out and stick it by my computer to remind me! I think a lot of that you subconsciously know anyway, especially after blowing your account. And its so true that you can actually read all those nuggets of wisdom but dismiss them as applying to everyone else but not you because you are special! Until.. you blow your account then realise that your not quite such a genius after all. It has taken me 1.8 blown accounts to sit up and take note. But now its got my attention! :)

Thanks trendy for that Turtle trading link... having a look at the system rules now! Very nice of them to give away the system like that! I never realised it was an experiment!! And it just proves that trading can be learned and that following indicators and systems can make you a good trader.

I often wonder though.... if you are following a set of rigid rules are YOU really trading the system, or is the system using you to trade? :) Who cares I say... if I make money either way.

Unlike what socrates and a lot of the traders here think. I dont care about being a perfect trader or about being the best.. or being able to mystically trade by just looking at chart patterns/volume or even a constant flow of raw price data... All I care about is making money! My rule is... if Im profitable Im a good trader! If I follow a system that consistently makes money and I dont have to think and make discretionary decisions.. then all the better. I can devote my life to the most important thing... living, experiencing, being free from the shackles of 9 to 5! I dont want to be a trader so I can be the best trader... I want to be a trader so I can make the most of the time I have on the earth! So I can devote more time to art, music, travel... the things I enjoy, and do it before I get too old. Just because everyone thinks they have to drag themselves into work everyday for the best years of their life, doesn't mean I have to be a lemin and join them.
Click to expand...
well said pk, it seems our motivation for trading is the same.
 
TheBramble said:
Another view is that the Turtle system became untradeable (as all systems will ) so they manufactured this 'failed Turtles were selling the so-called system for money' scenario so that others, lots of others, would start trading this system so THEY (real Turtles) could start trading THEM. Makes you think...
Click to expand...

I agree 100%. Systems Schmistoms, empty your bank account eventually algorithms

And re another post, scuse if I misquote: "don't have to think about discretionary decisions"....sorry, you made your first discretionary decision by following the system. You are you, the market is the market, the trick is to make you, at least in one sense, a follower of the market. There is nothing wrong with following!

If we have only come as far as "turtletrading" we havent come far at all (On the Journey from the Basement) :rolleyes: !
 
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