I checked out the turtletrader.com site and they dis most all technical indicators, yet they are selling a completely technical trading system. What technical indicators do they use ?
they use an RSI calculation, and 3 moving averages. I just saw the code somewhere... check wealthlab codes. I think that was it.
Hey Inandlong, I've seen something different. I've seen a turtle system with a RSI, DMI, Bolloinger Band, Stochastics, and Ichimoku all included together. I think this is the true turtle system. I wonder what the true turtle system is!!!!! trend456 P.S.- I'm just lying! Don't take this seriously!
That's funny trend. Before I got to the end of your message, I'm like...whoa I didn't see that. Of course I should have been tipped off by the Bollinger Band reference since they weren't in use by us commoners when the turtle were trained. Ya had me goin'
dotslashfutures is right about all the dis they talk about the other indicators. They're making a fool out of themselves by dissing other material too much. Maybe it's a marketing strategy to sell there product. I think they're being to biased towards there approach. Hey Inandlong, I actually didn't pick up the Bollinger Band part. That's true about what you've said. It didn't exist back when they were teaching the system. That's a good eye. trend
I just went through Wealthlab to check the system people have been talking about. I wonder where he got the turtle system because from what I know it's different. That's totally fake and if he paid money for that system he might have been ripped off. That's a good way to blind the public. trend
Bigscalper, Thanks for getting back to me but you haven't amused me with your deflection of my questions. I had asked you HOW you know about the EFFICACY of the Turtle system? You haven't given me an answer. I had asked you how you know about the problems of the system...you mentioned 3. One of them was 1-2 big trades a year and if you miss them the system loses you a lot of money. I haven't had that experience at all. In fact, the inverse. You had also stated that another problem with the Turtle system was that most people prefer day trading and then you tell me that they DO NOT cause a problem because they just provide liquidity....and then you address a supply/demand element to the issue. Wow! Which one is it bigscalper, problem or not? You continued on by saying that if you miss the 1-2? (that's it??) big trades, the system causes you to lose a bundle? What are you talking about? I would like some answers from you...my second attempt. Can you also answer the question, "How long have you been trading the system"(Turtle, mate)? Give me the courtesy of answering the questions and I will tell you something about me.
Turtleviper, By saying that most people prefer day trading I am not knocking day trading. Actually, there are a lot of successful day traders that consistently make $1000-$5000/day. By stating that most people prefer day trading this just means that most people don't have the patience to trade the trend, majority of people prefer the quick action for the small buck, I prefer patience for the big buck. If you miss the few big trades that arise with the turtle system you definitely won't (will not) make money. It's very easy to have 10 losers in a row and then one huge winner. I trade a variation of the turtle system, it works a little better for me and I feel it increases my winners to losers ratio, but this ratio still isn't much better than 50%. Therefore your winners must be, on the average, much bigger than your losers. Hope this helps you out.
If you plan on trading as a turtle you must remember the following... Almost all their money is made on less than 10% of their trades!