Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders

Informationen zum Autor McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide Klappentext "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-earningTurtle 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 followedWhy, even though they used the same approach, some Turtles were more successful than othersHow to look beyond the rules as the Turtles implemented them to find core strategies that work for any tradable marketHow to apply the Turtle Way to your own trades-and in your own lifeWays 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. Zusammenfassung Explains the Turtle system - the rules! timing! risks! and rewards that can deliver better profits. This book also shows you how to use this system in the market - including how to select the right trades! smooth out returns! diversify! and know when to exit a winning trade. Inhaltsverzeichnis Introduction: The Bet that Launched the TurtlesOne Turtle's StoryThe Turtle Way - How the Turtles Made MoneyThe Basic Elements of The Turtle WayTrading Psychology - Preparing Yourself to Do the Right ThingMoney Management - Staying Alive through Tough TimesCutting Losses - Knowing When to Get Out of a Losing TradeLetting Profits Run - When to Exit a Winning TradeCatching the Wave - How to Enter a PositionDiversification - Smoothing Out Your ReturnsLimiting Risk - Protecting Against Disaster16Systems Part I - Finding a Strategy that Fits YouSystems Part II - Avoiding the Pitfalls of TestingSystems Part III - Going from Testing to Trading...

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"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-earningTurtle 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.

Résumé
Explains the Turtle system - the rules, timing, risks, and rewards that can deliver better profits. This book also shows you how to use this system in the market - including how to select the right trades, smooth out returns, diversify, and know when to exit a winning trade.

Contenu

Introduction: The Bet that Launched the Turtles

1. One Turtle's Story
2. The Turtle Way - How the Turtles Made Money
3. The Basic Elements of The Turtle Way
4. Trading Psychology - Preparing Yourself to Do the Right Thing
5. Money Management - Staying Alive through Tough Times
6. Cutting Losses - Knowing When to Get Out of a Losing Trade
7. Letting Profits Run - When to Exit a Winning Trade
8. Catching the Wave - How to Enter a Position
9. Diversification - Smoothing Out Your Returns
10. Limiting Risk - Protecting Against Disaster16
11. Systems Part I - Finding a Strategy that Fits You
12. Systems Part II - Avoiding the Pitfalls of Testing
13. Systems Part III - Going from Testing to Trading