Many years ago I read the history of turtles in the book "Market Wizards". I was amazed to have read that the legendary trader, Richard Dennis, started a group of starters in just 14 days – and that these newcomers later traded legends.
Now you have a book written by one of the turtles. "The Turtle's Way" Curtis M. Faith. This turtle and the author donated $ 30 million to Dennis – and now shares the view of the turtle experiment and its results. In 1983, Richard Dennis received a long-time friend of William Eckhardt. There was a friendly discussion about whether dealers were born or taught to be successful. Dennis thought they could teach them, but Eckhardt thought they did not know.
The turtle experiment took place – and Dennis won. Turtles achieved a collective aggregate rate of return of more than 80%. These 23 merchant groups have never traded, yet they have learned to trade in the system within 14 days.
"Turtle Way" describes the causes of their success and covers areas such as:
. System rules and methodology
. Why, though the same method was used, some turtles were more successful than the others. How to expand the rules that turtles used to find the basic strategies that work on all tradable markets
. How to apply Turtle's methods to your own trading strategy
. Methods to diversify the trade risk
"Turtle Way is a good book – easy and fun reading that reveals a key factor that every forex trader has to note in the forex education trade experience, but most traders are psychologically making it difficult for these systems to take advantage of the system's experience.This shows well that Turtle's results were varied (despite the fact that they all taught the same methodology)
There is also a debate about the difficulties encountered by a system
If you find out an important fact from the book, learning a successful trading system is not enough: mental discipline is needed to be able to make a positive return on investment and I'm sure that other merchants who will read this book will be able to come up in the way of thinking ", they did so, so it's possible!"
It is possible to implement the system to maximize return
to become a successful trader when you acquire the right knowledge – but courage and discipline are also needed to make knowledge properly. ] It may not be as successful as turtles – but the book is in the right direction to achieve a foreign exchange trading success. The book highlights the key areas that should be used for its own forex trading strategy in order to become a successful currency trader.
"The Turtle's Way" is worth buying – and it is worth considering basic reading and part of forex education.