Turtle Trading System??

Discussion in 'Educational Resources' started by sizetrade, Jul 23, 2002.

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  1. Well at the time, it was worth the money. It just proved to me that making money in the markets was not that difficult if you followed a plan. I originally thought that these market wizards had some unusual type of methology or something, but it was nothing more then a simple trendfollowing breakout system, 4week and 10week specifically, managaing risk by taking alot of little loses and waiting for the 1 or 2 big trends a year to make you money, it was specifically for commoditites mostly. and not daytrading. Russell even had a fund set up trading the turtle way, not sure about the returns, it was a long time ago, but i think generally 10-20% average a year, but also amximum drawdowns of 30% are likely, Richard Dennis blew out a few times with his funds after he made his 300 million. I would not buy it again for 2000, but if you are a beginnering and wondering how the market works and how the big guys trade it, then i would spend 500-1000 and learn from it, copy it and then sell it and get most of your money back :)
     
    #11     Jul 23, 2002
  2. in 1983 or 84

    I was flown out to C+D for an interview for the 1st round
    of turtles ...

    did not get the gig ...

    ironically I ended up taking some turtle trading orders
    and handing them to my broker in the pit

    I sometimes wonder if it is worth it to me for amusement
    purposes to buy the guts of the system

    for tradewins $199 price ...

    I probably can get it cheaper on ebay LOL

    not sure how chesapeake CTA and the other former turtles
    are doing these days running money.


    :cool:
     
    #12     Jul 23, 2002
  3. for 8 yrs

    thats where my ref to the pit comes from

    in case anyone is curious ...
     
    #13     Jul 23, 2002
  4. #14     Jul 23, 2002
  5. bone

    bone

    I heard that failed breakouts killed off alot of those aquatic reptiles. Chop, chop, chop.
     
    #15     Jul 23, 2002
  6. Andre

    Andre

    Russell Sands was one of the turtles who came public, the non disclosure only lasted a few years, he sold a course for about 2000, that included i think 16 video tapes and the original turtle manual that the turtles learned from. I bought it back in 96 and it was my first introduction into trading after reading about traders in Schwagers books.

    I did not know this. And thanks for your follow up.


    Seth, so you interviewed, but did not make the cut? Fascinating. Care to talk about it? In their interviews they mention the fact that their success did have to do with picking the right personality types. How have you done since?
     
    #16     Jul 24, 2002
  7. pretzel

    pretzel

    #17     Jul 24, 2002
  8. El Cazador,

    How could one system sell for under 200 and the other sells for 1000? How do the two differ??
     
    #18     Jul 24, 2002
  9. ChrisM

    ChrisM

    Some time ago one of Turtle EL codes was posted in some forums (maybe illegally ?). I`ve tried that. That one looked impressive but was wothless. It did not work sufficiently on most contracts.
     
    #19     Jul 24, 2002
  10. sempai

    sempai

    I bought Russell Sands course back in '94 - just as I was starting as a futures trader. I thought the manual was very poorly written and difficult to follow. Also, the TradeStation code he had sent out with the course worked great in the time frame he had advertised, but when I backtested it over another 2 year time frame, it lost over 100%. I lost about 20% of my account equity in 3-1/2 weeks before I quit.

    The entry was some lame 20 day breakout with a few filters thrown in. It's so old, I'll bet there are fades of the fades (Turtle Soup).

    The only thing of any value I got from the course was the money management part that got into calculating "n" which basically uses the ATR of a contract to determine how many contracts to trade to keep your risk consistent for changes in volatility and when trading different markets. I believe this is what Van Tharp teaches as position sizing. I'd recommend you consider getting his report on position sizing (www.iitm.com), then look for some books with more up to date trading ideas and techniques in them.
     
    #20     Jul 24, 2002
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