russell sands, an original turtle ( LOL ), did team up with larry williams to market the turtle system. the best part is, larry williams , did not use the turtle system nor did he know about it, when he "supposedly" WON the contest that made him famous. best, surfer
Well, that's an assumption out of his account size. He certainly has to diversify his portfolio among several markets. If that's the case, how can he track all markets without the aid of a computer?
It would appear that most mechanical systems are based upon solid money management, some simple price channel breakout rules that adjust themselves to underlying volatility and then the trader's discretionary management to assess in which market he will put the system to work. The trader might also have different systems which work best with different market conditions and the choice is again discretionary. So, WDGann, let me know where I am wrong and if there is such a thing as a "robust system", which doesn't need to be changed ever.
It would appear that there is only one prerequisite for such an unpleasant experience: being a trader.
Put an MA up to help you confirm and identify the intraday trend. Then enter on a dip or stall in that direction. Use stop loss based on S/R. Only enter if it makes sense with the risk to profit ratio. Try for 3:1...so if you can get a stall or dip with a 1 point stop, then set you initial target to 3 points. Then if you determine there is more room in the trend then move your stop to BE and expand your target. Am I a Turtle Trader? Michael B.
Honestly, I have no idea what a Turtle Trader is... A lot of people think that Richard Dennis and Bill Eckhardt taught the turtles 20-day Breakout and MM rules. But they actually suggested and taught how to write a trend following system on their own. The 2 taught the turtles the basics of what makes a good trend-following and system. When the turltes make a good system, they would evaluate and if they found it to be valid, they let him trade it, considering the 2 keeping the systems in their archive. So the classes consisted of 3 parts. 1. The philosophy of trend-following. 2. Gave them 2 trend-following systems as an example. Donchian and 20-day Breakout. 3. Trend-following system development. The original turtles were also allowed to use discretion. Also, all trades they made had to be consulted with both Rich and Bill before placing it. They would reason out the discretion and see if it fit their trend-following philosophy...
I actually have no idea what "pure robustness" is... Only thing I can say is in relative terms... Like System A is more robust than System B....