Successful Trading Strategies
The Turtles System
Many ask, Can a beginner make money with trading?
The answer is; yes you can make money with trading, whether it is in stock trading, futures trading, forex trading, crypto trading, or any other instrument, it mainly depends on the strategy you follow and how strictly you follow its rules.The turtles' strategy which is a trend-based strategy proved that ordinary people from all walks of life can make good money from trading only they have to strictly follow the rules and don't let their emotions and impulses intervene with those rules.
The Turtles' System
One of the successful trading strategies is what is known as the turtles' system, which was founded by the famous trading guru Richart Dennis in the early 80s of the last century, it is a trend-based strategy and was taught to a group of people as an experiment by Mr. Richart Dennis.The experiment started as a debate between Mr Richard Denni and a friend trader Mr. William Eckhardt; whether great traders are made or born.
Naming the participants of the xperiment "turtles" came from the place where Dennis and Eckhardt stood when the long-running debate took place which was a turtle farm in Singapore. Dennis reportedly blurted out, “We’re going to raise traders like they raise turtles in Singapore.”
The system and the formula which is outlined here are derived from the book written by the most successful turtles traders Mr. Curtis M. Faith Way of the turtle by Curtis M. Faith Where he explained how he and other 22 ordinary people from all walks of life had been trained by Dennish and Eckhardt in just 2 weeks and became extraordinary traders.
Turtles Trading System
- Markets: What to buy or sell
- Position Sizing: How much to buy or sell
- Entries: When to buy or sell
- Stops: When to get out of a losing position
- Exits: When to get out of a winning position
- Tactics: How to buy or sell