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- Product code: 190435
- ISBN: 007148664X,
ISBN13: 9780071486644,
240 pages, hardback
Published by McGraw-Hill Professional on 2007
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Rating: 3.5/5 (2 votes cast)
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Description of The Way of the Turtle |
After 25 years, the Turtles come out of their shells. "I could teach a turtle to trade." While sightseeing at a turtle farm, legendary commodities trader Richard Dennis bet Bill Eckhardt that great traders didn't have to be born - they could be taught. To settle the wager, they recruited 23 individuals from all walks of life, gave them accounts to trade, and trained them for two weeks - hence the Turtle Traders.The Turtles of 1983 earned more than $100 million in less than four years, becoming part of the most famous experiment in trading history. Dennis had won his bet. But the secret to this success has been a mystery - until now. Shrouded in secrecy for nearly 25 years, the most successful Turtle Trader of them all breaks the silence, revealing his most lucrative trading strategies - and the Turtle legend Curtis Faith, who was 19 years old when he joined the Turtles, went on to become the most successful member of the group. For the first time, he explains the wildly successful Turtle system - the rules, timing, risks, and rewards that can deliver enormous profits.Faith also shows you how to use this system in the modern market - including how to select the right trades, smooth out returns, effectively diversify, and know when to exit a winning trade.
'The most successful turtle was apparently Curtis Faith. Trading records show that Mr. Faith, who was only 19 when he started the program, made about $31.5 million in profits for Mr. Dennis' - Stanley W. Angrist, "Wall Street Journal".
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Contents of The Way of the Turtle |
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 Disaster 16
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
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About Curtis Faith |
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.
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