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This book isnt about the strategies but rather the mental and emotional importance of following your strategy. the book clearly states that application is more important than strategy. goes on to say how some traders failed because of their inability to stick to the simple rules that their world renowned mentor laid out for them - not because of anything related to strategy
I just finished reading the book (written by a turtle trader). It was a 20-day breakout with each trader given one million, except for one trader who followed the rules to the letter and was more successful than the others, he received two million.
Not conflicting information...There were things going on that have never been made public. I can say tho that different traders received different amounts to trade with. Also, it WASNT a 40-day breakout. Lastly, NONE of the great traders got there by spreadbetting.
It’s obvious that this guy isn’t really a trader but more so an educator. When the market moves significantly in your favour and then comes back against you, it doesn’t meant that you lose a large size. That only happens if you’re not taking gradual profits or using trailing stop losses to minimise risk.
Those are certainly a more frequent danger these days, with predatory algos and stop hunting, but if you focus on longer term time frames and try and enter into directional movements you see there, it tends to give you more of an edge. Directional movements/trends will always occur in markets due to fundamental reasons causing them.
Of course, like everything, that's a lot easier said than done, and like what's mentioned in the video, always trade with the conditions. But Trends are very important to not fight against, particularly ones on longer term time frames.
Richard Dennis hasn't been able to make money for 35 years lmao. He made money out of luck after Bretton Woods ended and there was a whole lot of dumb money buying at ath when the trend was obvious. He never had a clue what moves price, just came up with a dumb strategy that randomly worked during the sugar & silver bubbles.
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👉 Trade with our Sponsor Broker: Trade Nation www.financial-spread-betting.com/ccount/click.php?id=95 Trade sensibly! 81.7% of retail investors lose money.
👉 We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @).
👉 It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon (🔔) you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel 🥰
This book isnt about the strategies but rather the mental and emotional importance of following your strategy. the book clearly states that application is more important than strategy. goes on to say how some traders failed because of their inability to stick to the simple rules that their world renowned mentor laid out for them - not because of anything related to strategy
I just finished reading the book (written by a turtle trader). It was a 20-day breakout with each trader given one million, except for one trader who followed the rules to the letter and was more successful than the others, he received two million.
The speaker hasn't read obviously Chapter 19 of Michael Covel's book Trend Following.
Not conflicting information...There were things going on that have never been made public. I can say tho that different traders received different amounts to trade with. Also, it WASNT a 40-day breakout. Lastly, NONE of the great traders got there by spreadbetting.
Wouldn't adding position this way incur a lot of transaction cost? How much capital would you need in order to make this method viable?
How do you set up the N in think or swim platform?
It's not about the winny, it's about the money
2:25 (The I don’t know got me)😂😂😂
It’s obvious that this guy isn’t really a trader but more so an educator. When the market moves significantly in your favour and then comes back against you, it doesn’t meant that you lose a large size. That only happens if you’re not taking gradual profits or using trailing stop losses to minimise risk.
So Trading Places (1983) staring Eddie Murphy and Dan Aykroyd was based on a true story? That would be too strange if not.
Thank you for the video
Do you think this strategy will work well in intraday trading such as on a 5 minute chart ?
This is holly grail
But its too complicated in this time. Lot of false breakouts
Those are certainly a more frequent danger these days, with predatory algos and stop hunting, but if you focus on longer term time frames and try and enter into directional movements you see there, it tends to give you more of an edge. Directional movements/trends will always occur in markets due to fundamental reasons causing them.
Of course, like everything, that's a lot easier said than done, and like what's mentioned in the video, always trade with the conditions. But Trends are very important to not fight against, particularly ones on longer term time frames.
Why do they called it turtle trader?
"Trading Places" lol
Thanks
With the current AI and robotic automated trading environment; all machine will be ahead of anyone with a fix trading strategy :-(
Could you please make a demonstration? Paper trade with real graphs.
Richard Dennis hasn't been able to make money for 35 years lmao.
He made money out of luck after Bretton Woods ended and there was a whole lot of dumb money buying at ath when the trend was obvious.
He never had a clue what moves price, just came up with a dumb strategy that randomly worked during the sugar & silver bubbles.