Turtles are what we call a group of traders trained by Richard Dennis and William Eckhardt in the most famous experiment in trading. I wrote a series of articles about turtle trading, the story behind Wall Street legend. In this article, we will learn more about the turtles, the techniques that made them millionaires.
A key [...]
Posts Tagged ‘Turtle Trading’
How the Turtles Manage their Risk?
Posted by Taro on May 25th, 2010
How do you know when to buy?
Posted by Taro on May 24th, 2010
A question that every traders have to find themselves the answer is “How do I know when to buy?“. The answer for the question may be the same or may be different for each traders. It depends on trading styles and trading system traders use. There are several approaches or rules that use to identify [...]
Posted in Trading System 
Tags: Forex Trading System, Futures, Trading System, Turtle Trading 
No Comments »Finding Your Trading Edge
Posted by Taro on May 7th, 2010
The winning traders are not ones who have never lost. To be a winner in trading game, you have to think in terms of long run. Hence, if you want to be one of winners, you have to find trading methods that work over the long run what is known in gambling as an edge.
By [...]
Getting Know Your Biases in Trading
Posted by Taro on May 6th, 2010
Over time, experts have identified the most common biases that usually affect behavior of traders. Curtis M. Faith, who had been the most successful of Turtles, also mentioned about this in his book “Way of the Turtle“.
According to the book, people always distort perception of reality when it comes to trading. [...]
MetaStock Formula for Turtle Trading System
Posted by Taro on April 13th, 2010
Turtle trading is a most famous trading system; I wrote a series of articles to provide the basic concepts of turtle trading system. In this article, I will give you a few examples on how to apply the turtle systems in your trading by using MetaStock.
One of the most commonly used tools for MetaStock [...]
Turtle Trading #7 Tactics
Posted by Taro on March 23rd, 2010
The tactics is about miscellaneous guidelines to cover the rest of trading the turtle system rules. Besides the other six pieces of turtle trading system, there are some remaining important details that can make difference in profitability of trading.
One thing of tactics is how to enter orders. Turtles were told to place limit orders instead [...]
Posted in Trading System Tags: Forex Trading System, Futures Trading System, Trading System, Turtle Trading 1 Comment »Turtle Trading #6 Exits
Posted by Taro on March 20th, 2010
Every profitable trading system has a different optimal exit point. The exit is the one that least appreciated in trading system while it can make difference between winning and losing.
The components of a trading system have complex relationship to each other. In order to determine a proper exit for a profitable position, traders have to [...]
Turtle Trading #5 Stops
Posted by Taro on March 18th, 2010
The critical piece of trading system is how to get out of a losing trade. Traders who do not cut their losses cannot be successful in long term.
The most important thing about stops that traders must keep in mind is to define the stops before enter a trade. This is of course not a coincidence [...]
Turtle Trading #4 Entries
Posted by Taro on March 15th, 2010
The next piece, following markets and position sizing, of turtle trading system is entries.
Most traders believe that entry is the most important aspect in any trading system. For the turtles, they used only a very simple entry system based on channel breakout systems taught by Richard Donchian.
The turtles’ rules for entry consist of two different [...]
Turtle Trading #3 Markets and Position Sizing
Posted by Taro on March 11th, 2010
Markets and Position Sizing are pieces of turtle trading system.
The first thing traders have to know is what to buy or sell.
The original turtles were commodities traders. They traded futures contracts on most U.S. commodities exchanges. The primary criterion that the turtles used to determine which markets could be traded was liquidity. Since the turtles [...]
