July 14, 2007

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

Filed under: Futures Trading, Trading Technique — tradingfives @ 5:56 pm

Book Description

“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 [tag]trading system[/tag] 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.

4 out of 5 stars great and sincere, but not for the newbie traders July 4, 2007
Great read, very good thoughts on optimization and Monte Carlo simulations.. something I’ve been thinking of but couldn’t formulate my thoughts on a subject, Curtis with huge experience does it well. Very good read on Turtle’s story and some of his personal experiences with the class, life lessons learned and trading lessons. Curtis doesn’t go to explain the basics of trading in this book, so if you don’t know them yet, this book will not be clear for you.However, there’s more to it than just a trading technique being explained that they used in the Turtles class, its all about one young man’s dream to become a great profitable trader, which he did and showed once again with the help of Richard Dennis that it IS possible to trade successfully.

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