30 of 30 people found the following review helpful
Superb How To Book,
This review is from: Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders (Hardcover)
The Turtles Story is Legendary in Trading Lore.
An open account of how the author was selected for the Turtles, how they did it and what was achieved and the obstacles they came across on route.
The full Turtle System is described, entries, exits, risk management.
Curtis Faith writes simply and describes in clear language what an effective trading system looks like, what its component parts are, with reference to the Turtles system.
There are an excellent couple of chapters on system design and evaluation. How to evaluate, what to expect in real time after your tests. It's clear he has walked the walk. I'll vouch for that from my own trading experience.
They way they made millions is explained carefully; anybody can do it if they follow the rules. But can you?
I've read many trading books, traded actively and this is an excellent book, the best I've read on trading systems. It's easy for anybody to read as a novice and will set you on the correct development path. For those more experienced but not following mechanical rule based systems it's a must.
As an aside there's a small Excel Spreadsheet you can find on the Internet called Risk of Ruin xls. Try working out how much of your available pot (that's when you stop trading due to losses reaching intolerable levels) you currently risk per trade and work out your risk of wipeout and your biggest forecast draw down. Ask yourself what that draw down would mean to you in cash terms and whether you could carry on at that point. It's most illuminating.