The Complete TurtleTrader

The Complete TurtleTrader We Read Constantly About The Men And Women Who Make Nine And Ten Figure Fortunes In The Markets The Warren Buffetts, Paul Tudor Joneses, And Michael Milkens Of The World Do They Have Some Incredible Gift The Rest Of Us Lack, An Ability To Make Cool Decisions Under Fire When We Let Emotion Get In The Way, To Coolly Assess The Impact Of Each Trade As Though Millions Or Billions Of Dollars Aren T Riding On The Next Click Of Their Mouse Richard Dennis, The Prince Of The Pits, A Man Who D Already Made A Fortune On The Street, Was Convinced That Great Trading Wasn T A Gift From God, But Something That Could Be Taught To Anyone So One Day He Made A Bet With His Partner, And Ran A Classified Ad In The Wall Street Journal Looking For Trainees And He Didn T Just Hire Finance Professionals His Trainees Who Became Known As The Turtles Included An Actor, A Security Guard, Two Professional Blackjack Players, A Pianist, A Fantasy Game Designer, And Others After Two Weeks Of Training, He Set Them Loose, With A 1 Million Bankroll Each To Invest As They Chose, And The Right To Keep A Share Of Their Trading Gains For Themselves, As Long They Adhered To The Turtle System By The Time The Program Ended, Dennis And His Partner Had Made Over 120 Million From Trades Made By Complete Novices Many Of These Turtles Then Went On To Trade For Themselves, And Some Are Among The Top Investors Operating Today As Fascinating As Dannis And The Turtles Story Is, Covel Doesn T Stop There He Lays Out, In Detail, The Exact System The Turtles Used To Reap Their Millions And Because The Turtle System Is A Form Of So Called Technical Investing, Meaning The Turtles Weren T Concerned About The Fundamentals Of The Investments They Made, It Is An Investing Strategy Where A Wall Street Operator, Plugged Into The Second By Second Madness Of Finance, Has NO Advantage Over An Ordinary Investor And Covel Takes Us Step By Step Through All The Details Needed To Apply This At Home In THE COMPLETE TURTLETRADER, Michael W Covel, Author Of TREND FOLLOWING And Managing Editor Of TurtleTrader.com, Tells The Riveting Story Of The Turtles, Their Selection, Their Training, How They Made And Lost Astounding Fortunes, And Certainly Not Least, The Tools Readers Will Need To Start Trading Like Turtles Themselves. Type 1 error rejecting something that shoudl have been acceptedtype 2 error accepting something that should have been rejected.edge winning % X avg winner losing 5 X avg loser1 calculate your edge for every trading decision because you cannot make bets if you do not know your edge it is not about the frequceny of being correct, but the magnitude.2 buy rallies watch high low close trading decisions shoudl all be based on price 3 embrace shorting.S1 4 week 20 trading day price Type 1 error rejecting something that shoudl have been acceptedtype 2 error accepting something that should have been rejecte
This book and the events it describes do not answer the question of whether normal people can be taught the magic of trading and become wildly rich.Instead, it tells the tale of a small group of exceptional individuals selected from a larger pool of motivated volunteers by an expert in the field They were given a mundane but previously successful trading method to execute following trends, with fixed rules for when to get in and out and it did mostly continue to work Later, some went on to g This bo
Interesting, butfiller than I wanted Also his editor was right to cut all the petty stuff at the end that is only in the audiobook. I think very highly of this book overall, and my main grievance is a petty one I rather despise the constant branding of the word turtle throughout the book It s a tedious exercise in self promotion that serves to alienate the reader rather than programme him to buy the next book One could reduce the number of references to turtles by 70% and the book would be muchreadab
This is a pretty good story about Nature vs Nurture put into action Take the most successful trader in Chicago and give him a group of people from background that range the spectrum Can he teach them to be successful traders Or is that something that is inherent While the story seems to support the nurture
A decent account of the turtle trading methodology and VERY detailed background Actually the methodology is ancillary the author is passionate about the turtle story including gossip and internal strife I don t mean the story does not deserve being told But the author just dug too deep. An easy and enjoyable read about the Turtle Traders ordinary folks taught a mechanical way of trading that works and how they mostly got rich The book recounts a true life version of Trading Places This is not a how to. A nice quick read that details how the lives of random average Jo s are changed when a successful trader teaches them his ways. Was expecting some technical analysis insights, it was minority of the book More about people participating in it, philosophy of those traders etc A bit controversial story. .