“We're going to raise traders just like they raise turtles in
Singapore.”
So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt
nearly 25 years ago. What started as a bet about whether great traders were born or made
became a legendary trading experiment that, until now, has never been told in its
entirety.
Way of the Turtle reveals, for the first time, the reasons for the success of
the secretive trading system used by the group known as the “Turtles.” Top-earning
Turtle Curtis Faith lays bare the entire experiment, explaining how it was possible for
Dennis and Eckhardt to recruit 23 ordinary people from all walks of life and train them to
be extraordinary traders in just two weeks.
Only nineteen years old at the time-the youngest Turtle by far-Faith traded the largest
account, making more than $30 million in just over four years. He takes you behind the
scenes of the Turtle selection process and behind closed doors where the Turtles learned
the lucrative trading strategies that enabled them to earn an average return of over 80
percent per year and profits of more than $100 million. You'll discover
- How the Turtles made money-the principles that guided their trading and the
step-by-step methods they followed
- Why, even though they used the same approach, some Turtles were more successful
than others
- How to look beyond the rules as the Turtles implemented them to find core
strategies that work for any tradable market
- How to apply the Turtle Way to your own trades-and in your own life
- Ways to diversify your trading and limit your exposure to risk
Offering his unique perspective on the experience, Faith explains why the
Turtle Way works in modern markets, and shares hard-earned wisdom on taking risks,
choosing your own path, and learning from your mistakes.
Curtis M. Faith was the most successful of the Turtles, earning more than $30
million for Richard Dennis while trading as a Turtle. He is one of the industry's leading
pioneers of mechanical trading systems and software. Faith is currently head of research
and development for Trading Blox, LLC, a company that specializes in software for trading
system analysis and development. He also runs an Internet forum for mechanical system
traders at tradingblox.com/forum.
Table of Contents
Introduction: The Bet that Launched the Turtles
- One Turtles Story
- The Turtle Way How the Turtles Made Money
- The Basic Elements of The Turtle Way
- Trading Psychology Preparing Yourself to Do the Right Thing
- Money Management Staying Alive through Tough Times
- Cutting Losses Knowing When to Get Out of a Losing Trade
- Letting Profits Run When to Exit a Winning Trade
- Catching the Wave How to Enter a Position
- Diversification Smoothing Out Your Returns
- Limiting Risk Protecting Against Disaster 16
- Systems Part I Finding a Strategy that Fits You
- Systems Part II Avoiding the Pitfalls of Testing
- Systems Part III Going from Testing to Trading
240 pages, Hardcover