One of the most successful traders of 20th century taught a group to trade and many of them have gone on to have decades long successful careers. He nicknamed his students the turtles. If you think the name is whatever, who is to disagree. But what that name stands for is generally known to be the approach taught and the success derived from it. You see that as positive I assume.
The name has nothing to do with the system, it refers to the students. The bet between Dennis and Eckhardt was whether ordinary people could become successful traders. Dennis was pro, Eckhardt was con. Dennis said that his "ordinary" students (actually carefully screened applicants) were going to be trained like turtles were raised en mass in certain Asian farms. So the selected students became the Turtles.
Chris Clarke has good insight on this podcast ep. for those that scream "drawdown" when discussing trend following: http://trendfollowingradio.com/ep-2...w-with-michael-covel-on-trend-following-radio Also, drawdown goes far beyond trend following. Consider an excerpt from PragCap: Big returns over time come with big drawdowns. Buffett has also said himself: No wisdom there.