The Way of the Turtle : The Secret Methods That Turned Ordinary People into Legendary Traders Hardback
by Curtis Faith
"We're going to raise traders just like they raise turtles in Singapore." So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt nearly 25 years ago.
What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety.
Way of the Turtle reveals, for the first time, the reasons for the success of the secretive trading system used by the group known as the "Turtles." Top-earningTurtle Curtis Faith lays bare the entire experiment, explaining how it was possible for Dennis and Eckhardt to recruit 23 ordinary people from all walks of life and train them to be extraordinary traders in just two weeks.
Only nineteen years old at the time-the youngest Turtle by far-Faith traded the largest account, making more than $30 million in just over four years.
He takes you behind the scenes of the Turtle selection process and behind closed doors where the Turtles learned the lucrative trading strategies that enabled them to earn an average return of over 80 percent per year and profits of more than $100 million. You'll discover How the Turtles made money-the principles that guided their trading and the step-by-step methods they followed Why, even though they used the same approach, some Turtles were more successful than others How to look beyond the rules as the Turtles implemented them to find core strategies that work for any tradable market How to apply the Turtle Way to your own trades-and in your own life Ways to diversify your trading and limit your exposure to risk Offering his unique perspective on the experience, Faith explains why the Turtle Way works in modern markets, and shares hard-earned wisdom on taking risks, choosing your own path, and learning from your mistakes.
- Format: Hardback
- Pages: 320 pages, illustrations
- Publisher: McGraw-Hill Education - Europe
- Publication Date: 01/04/2007
- Category: Investment & securities
- ISBN: 9780071486644
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Review by knightlight777
A fairly good book on trading concepts and mindsets. Curtis Faith being one of the original and more successful of the Turtle group. Some criticism of special treatment had been leveled at him of favoritism by other members which he addresses. Essentially Curtis says he was successful because he followed the rules and was more disciplined. He offers some pretty solid and realistic advice on what it takes to survive and then succeed in the rough and tumble world of trading. Though the experiment of the Turtles took place years ago much of what came out of it is still relevant today. A worthwhile read for those interested in gaining a foothold on this challenging endeavor.