I was wondering if anyone has every heard of The Turtle Trading System.
I was recently readina great book called The Way of The Turtle. About 10 traders taught by one of the best in the world apparently went on to all become millionairs in only a few short years trading this system (they wer trading futures though) . Anyways, I was just wondering if anyone has tried this system and what were your result. If you want to try it too, its right here.
Happy Trading:D
Hi,
yes I studied the Turtle trading system. It is a bit complicated for people who are not beeing teached into it by someone who knows it well. It is a good system that is provem to be profitable but it aswell has down sides.
Pro:
It gives a good guideline onto when, what direction, how much (it considers votality in its calculations) to trade.
It is a fully automatised system= means u can skip all indicators, oscilators, chart patterns, candle stick formations.
Above mentioned means that people who have no clue about stocks, price movements etc and nio experience can profitably trade on stocks.
Bad sides:
It is not designed for FOREX, thou u can use it.
It is designed for comodities, stocks, etc etc
Very bad for people like on BabyPips, it needs a lot (a lot lot lot) discipline and even more patient.
The system is designed to initiate and hold onto trades that last months.
It gives signals only few times a year
Considering its big time frames it is based on, you really dont need to start it at all if u got less then 1 million cash for stocks aside, as with anything less u wont be able to live with the profits.
The math behind it is managable but not easy.
It concentrates solely on price, no moving averages, no oscilators indicators whatsoever (all the pretty couloured stuff forex traders love so much and what actually makes them loose money).
god i just saw this thread is from 2007. sorry