TURTLE TRADERS STRATEGY - The Complete TurtleTrader by Michael Covel. (Richard Dennis)

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Күн бұрын

TURTLE TRADERS STRATEGY - The Complete TurtleTrader by Michael Covel. (Richard Dennis)
The complete Turtletrader is a fascinating story evolving from two successful stock traders, Richard Dennis and Bill Eckhardt. Also publicised via the book Way Of The Turtle.
Richard Dennis was a very successful commodity trader, in which he was classed as a pioneer for trend following strategies, and believed his stock trading skills could be taught.
He created the turtle trading program, training 14 people in a matter of just two weeks before allowing each trader to trade live accounts of $1 Million dollars each.
The Turtle Traders experiment for trading stocks was a huge success raking in over $150 million in profits in just 4 years.
The trading strategy was based on a breakout trend following system with good risk management criteria.
I hope you enjoy the summary and gain some knowledge from the turtle traders including (Jerry Parker), who show, by keeping it simple can actually work.
Also inspired by the book Way Of The Turtle by Curtis Faith, featured in the book.
Links:-
My Brokerage Account (Interactive Brokers) - bit.ly/3UGvn1U
25% Off Stockopedia - bit.ly/2YIcAIn
Risk/Reward trading spreadsheet - bit.ly/3ea6sl8
My Trading Spreadsheet/Calculator - bit.ly/3ea6sl8
Technical Screener - bit.ly/40S034v
Back test software - bit.ly/3oO1exN (20% Discount code)
My Breakout Scanner - bit.ly/40S034v
My Forum - bit.ly/40S034v
FREE Trading Tools/Software/Stuff - bit.ly/3ea6sl8
My Strategy Blueprint - bit.ly/40S034v
Edgewonk Trade Analysis Software - bit.ly/3xS6S7s Coupon Code = FWISDOM
Stock Trading videos:-
Timing The Market - • You CAN Time The Marke...
Best Chart Patterns - • The Best Chart Pattern...
Trend Following Study - • DOES TREND FOLLOWING W...
Trade Like A Casino - • How to Trade Stocks (U...
Dollar Cost Averaging - • Dollar Cost Averaging ...
Stop Loss vs Buy Hold - • Stop Loss Strategy VS ...
Trading Theory - • Best Trading Strategy ...
Dow Theory - • DOW THEORY - What is i...
Past Bear Markets - • PAST BEAR MARKETS & Ho...
Buy & Hope - • FINANCIAL EDUCATION GO...
Warren Buffet - • WARREN BUFFET Investin...
David Ryan US Champion - • BEST Stock Trading Str...
Trading Expectations - • REALISTIC STOCK TRADIN...
Super Trader - • Dr Van Tharp - SUPER T...
Oliver Kell US Champion - • BEST Trading Strategy ...
The Disciplined Trader - • Video
Kristjan Qullamaggie - • KRISTJAN QULLAMAGGIE -...
Avoiding Drawdown - • AVOIDING DRAWDOWN - In...
Breakout Screener - • CONSOLIDATION BREAKOUT...
MACD Explained - • MACD INDICATOR EXPLAIN...
Risk Reward Ratio - • RISK REWARD RATIO - Tr...
William O'Neil Disciples • Trade Like a WILLIAM O...
Dual Momentun • DUAL MOMENTUM | Moment...
Dan Zanger • DAN ZANGER | Breakout ...
Paul Tudor Jones • PAUL TUDOR JONES - Bil...
Spread Betting Naked Trader • NAKED TRADER'S Guide t...
Martin Schwartz Pit Bull • MARTIN SCHWARTZ | PIT ...
Kelly Criterion • KELLY CRITERION | Ed T...
Timothy Sykes • TIMOTHY SYKES - Tradin...
Think And Trade Like A Champion • MARK MINERVINI THINK A...
Van Tharp • VAN THARP Trade Your W...
Turtle Traders • TURTLE TRADERS STRATEG...
Ed Seykota • ED SEYKOTA Interview b...
Thomas Bulkowski Candlestick patterns • CANDLESTICK PATTERNS b...
Nicolas Darvas • NICOLAS DARVAS Box Tr...
Swing Trading • SWING TRADING STRATEGI...
Lone Stock Trader • LONE STOCK TRADER - Fr...
Mark Douglas • NICOLAS DARVAS Box Tr...
Jesse Stine • JESSE STINE INSIDER BU...
Stan Weinstein • STAN WEINSTEIN - SECRE...
Peter Brandt • DIARY OF A PROFESSIONA...
Mark Minervini • MARK MINERVINI- Trade ...
Alexander Elder • TRADING FOR A LIVING D...
Investing videos:-
Joel Greenblatt - • JOEL GREENBLATT - THE ...
Tony Robbins - • MONEY MASTER THE GAME ...
Robert Kiyosaki - • RICH DAD POOR DAD REVI...
The Naked Trader - • THE NAKED TRADER - Rob...
Common Stocks Uncommon Profits - • COMMON STOCKS AND UNCO...
A Random Walk Down Wall Street - • A RANDOM WALK DOWN WAL...
Vanguard Index Investments - • VANGUARD INVESTMENTS |...
As a professional trader I have consumed hundreds of financial books and endured countless hours of self education. My hope is that this channel will reduce the learning curve duration of many aspiring traders by providing the key information in a concise and enjoyable manner.
I also offer a paid subscription service for those looking to see all my investment decisions.bit.ly/40S034v

Пікірлер: 317

@tianxia4092 3 жыл бұрын

After years in the market and reading all sorts of books, that quote by Richard Dennis that "anybody can make up a trading system that is 80% of what he taught the traders" really rings true to me. I am convinced that retail traders' true edge does not reside in the particular strategy, but in risk management and psychology.

@FinancialWisdom 3 жыл бұрын

Well said

@mistersandy 2 жыл бұрын

That's so true. Simply look at most any stock chart and it's easy to see entry and exit points. It's having the calm to wait for both.

@reasonerenlightened2456 2 жыл бұрын

Trade INNEVITABLY results in extreme levels of Wealth concentration. It is a mathematical inevitability for as long as trade is present. Consequences? Your saving accounts get empty, any investments are gone, all that is left to trade then is yourself but you eventually get old so your only value is that of a bio-mass to use for making fertiliser or soap or glue. The solution is, perpetual even redistribution of sufficient wealth, indefinitely, to prevent the inevitable extreme levels of wealth concentration.

@chrometheus1789 2 жыл бұрын

True dat

@califcamper 2 жыл бұрын

True to an extent. You first must have some strategy that consistently makes a profit, otherwise your doomed no matter how disciplined you are.

@scottallancole3635 Жыл бұрын

It should be noted that Dennis and Eckhardt were not trading stocks, but were trading futures. Also, the Turtles were provided with a set of discretionary rules, not mechanical rules. Dennis indicated that he was not interested in creating a bunch of trading robots. He wanted each trader to add their own flair.

@Americanpatriot723 Жыл бұрын

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $850k in this recession influenced market.

@MIchaelGuzman737 Жыл бұрын

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

@sommersalt88 Жыл бұрын

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

@kashkat987 Жыл бұрын

@@sommersalt88 Please who is the consultant that assist you with your invest-ment and if you don't mind, how do I get in touch with this person?

@sommersalt88 Жыл бұрын

My advisor is ‘’LISA ELLEN SHAW’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversification and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@kashkat987 Жыл бұрын

@@sommersalt88 I searched her up online and checked out her credentials since I was so intrigued. Top-notch! I emailed her to inquire about accepting new clients.

@10MinuteTrading 2 жыл бұрын

This is one of my all time favorite trading books, this had a profound impact on how I trade

@FinancialWisdom 2 жыл бұрын

Thanks Christopher👍 You channel is great by the way....

@jonny1one634 2 жыл бұрын

And are you rich?

@lilacfloyd Жыл бұрын

@@jonny1one634 No. :D

@bersteredmeyer5044 2 жыл бұрын

Yeah, Trading can be taught. But Rich and Bill have also shown that not everyone can do it. Out of 1000 applicants, 40 were shortlisted. 13 were then trained as Turtles, some of whom were later kicked out of the program for not following the rules.

@FinancialWisdom 2 жыл бұрын

Very true

@cagrikanik2403 2 жыл бұрын

Dennis was their times' algorithm trader. He was totally true to stay away from emotions and only apply rules. It was a great experiment for trading history. Thanks to FW to make a nice summary to us!

@FinancialWisdom 2 жыл бұрын

🙏

@ayampencen6363 Жыл бұрын

Its true...Stay away from emotion..👍👍👍👍 But Easy to said than done...

@cbhagen6696 3 жыл бұрын

the turtles winrate is not a reflection of the market but a reflection of their trading psych in lieu with the trading strategy. since they learnt the same strategy but had different winrates

@EIStudent 3 жыл бұрын

Another amazing and well researched piece of work.

@FinancialWisdom 3 жыл бұрын

Glad you think so!

@ivantirtakusuma 2 жыл бұрын

I read this book 3 years ago.. Its idea still becomes my core principle in my trading style.

@FinancialWisdom 2 жыл бұрын

Great

@jonny1one634 2 жыл бұрын

And are you Rich?

@dcoolsam 4 жыл бұрын

Fabulous review... I have read the book a couple of times, and your review is bang on. Kudos to you....

@FinancialWisdom 4 жыл бұрын

Thanks Sameer, much appreciated👍

@MrMrBiggles 2 жыл бұрын

I am so glad that I discovered this book. The system is absolutely brilliant once it clicks in your head.

@FinancialWisdom 2 жыл бұрын

it is...

@arathaemaxus5250 Жыл бұрын

Absolutely!

@jacktorse28 2 жыл бұрын

This is a valuable resource channel for traders. I have watched some of these videos over and over. I am testing this strategy now and I watched this again.

@FinancialWisdom 2 жыл бұрын

Thanks 🙏

@prshaiva 3 жыл бұрын

Thanks mate. Really nice of you to share such a concise review of a great strategy book to help all and sundry. God bless you.

@FinancialWisdom 3 жыл бұрын

Glad you enjoyed it!🙏

@rorymc2000 4 жыл бұрын

A brilliant insightful summary...thanks

@FinancialWisdom 4 жыл бұрын

Thanks Rory!

@GreenfieldPortfolioResearch 2 жыл бұрын

wooow. 5 stars to you for this video!

@aaronthompson4280 2 жыл бұрын

Just bought this on audible while watching this. To the moon!

@obijuan3004 2 жыл бұрын

Thank you for that coverage of the Turtles book. That was very easy to follow.

@FinancialWisdom 2 жыл бұрын

Glad it was helpful!

@schubertpeter79 4 жыл бұрын

Bravo, as always!

@FinancialWisdom 4 жыл бұрын

Thanks again!👍

@cbhagen6696 3 жыл бұрын

was lazy and didnt finish the book but the summary you gave even though it is detailed motivates me to read the book and above all be a principled trader. thanks a mil

@FinancialWisdom 3 жыл бұрын

Glad it was helpful!👍

@majordelays4909 2 жыл бұрын

Improved returns since?

@yuthpatirathi2719 3 жыл бұрын

Superb video ! This channel is a goldmine

@FinancialWisdom 3 жыл бұрын

Thank you so much 😀

@AUstinnesc 5 ай бұрын

Is the stock market actually getting better or is this the regular end of year market manipulation to entice new investors, I'm currently sitting on an inheritance of 500k and i'm wondering do I invest in stocks or Gold?

@Patatkevin 5 ай бұрын

It is advisable to diversify while retaining 70-80% in secure investments. Along with your budget, you should think about financial advising.

@sheltonPston 5 ай бұрын

Its unclear which stocks and sectors will lead the market in the next uptrend. Stay away from rebalancing if you do not have guidance from a planner and Advisor/strategist. My finances have been in order since I got a wealth planner like Monica working with/for me. This approach has helped me stay financially secure for over nine years, yielding nearly $1m ROI.

@corrySledd 5 ай бұрын

What did you invest in? Who is the advisor that guides you? more info on this if you don't mind

@sheltonPston 5 ай бұрын

Nicole Desiree Simon deserves credit as one of the finest portfolio managers in the industry. Her reputation precedes her, and I highly recommend looking her up to locate her online if you are internet-savvy

@Robertgriffinne 5 ай бұрын

Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.

@rockstar.mindset 4 жыл бұрын

thank you again! ♥️🔥

@FinancialWisdom 4 жыл бұрын

Thank you Hikohidrio 👍

@arathaemaxus5250 Жыл бұрын

Great basic explanation it there is so much more to it than this. Anyone wanting to do this should buy the book.

@kingpinstatus916 4 жыл бұрын

I just discovered your video's this morning & I own a few of the book's you've covered. You do a SENSATIONAL job of breaking the books down! The One thing you got wrong on this video is that picture between 0:53 - 1:12 is Paul Tudor Jones another Legendary Wall $treet Trader not Richard Dennis. Keep up the GREAT work. I'm going to keep watching the video's of the books I don't own.

@FinancialWisdom 4 жыл бұрын

Hi Kingpin, LOL thanks for pointing that out! Rookie error... thought he looked different with age! Thanks for the feedback👍

@majordelays4909 2 жыл бұрын

How are your returns since consuming the books?

@elainemulder9942 3 жыл бұрын

Great video. Thanks!

@FinancialWisdom 3 жыл бұрын

You're welcome!

@califcamper 2 жыл бұрын

I started trading with 25k, ( so I could daytrade w/o pdt rule). I lost $2700, and stopped...That was the best $2700 I ever spent, it taught me discipline...

@infiad1275 2 жыл бұрын

Are you still trading?

@califcamper 2 жыл бұрын

@@infiad1275 yes, back in it, not easy still trying to find a winning strategy, but have not lost any more...

@infiad1275 2 жыл бұрын

@@califcamper I hear ya. Rowing the same boat. We'll get to the other side as long as we keep rowing.

@BigSteppaFX Ай бұрын

Hey guus ,so hows the trading going?

@arnoldlombardi 2 жыл бұрын

Having a trading plan is essential for every trader. Investing in Sir Leonard Bracher's services and understanding its unique premise could help you immensely grow in profit making. There's no better deal than earning while you learn.

@sigrudtokmen 2 жыл бұрын

I made $50,000+ investing as a beginner in my first couple of months in his passive income program. Definitely recommend him for newbies who are looking to earn passively from trading.

@prestontrudeau2439 2 жыл бұрын

What exactly does Mr Bracher do for you, it not quite clear to me, does he sell you signals?

@mcfoley 2 жыл бұрын

I couldn't agree more

@arnoldlombardi 2 жыл бұрын

@@prestontrudeau2439 He basically trades for me and charges a 15% commission on all profits from trading. All i have to do is provide capital, and he and his team handle the rest so that i earn passively from the market. This affords me the greatest luxury of all in my retirement, TIME, time with my family, and time with my garden. I came to know about his services through my son-in-law who happens to have met him in Greece during a blockchain conference.

@jimmyyen_. 2 жыл бұрын

having Mr Bracher trade for me has helped me Recover my losses from previous years and put me ahead of my peers financially(zero debt), i can't thank him enough. Definitely working with him again soon.

@ethanluo7355 Жыл бұрын

Looking at the final slide summarizing turtles performance , there are big difference among them even though they are using the same system - the ability to trade is a gift

@JeremyTheApe Жыл бұрын

Excellent point, I thought the same. It would be fascinating to understand the differences. Perhaps out of so many potential trades to take, the better performers had a better selection criteria, or perhaps there was a bit of luck involved? 🤔

@bammylarsen1260 2 жыл бұрын

This trend following method (Donchian channel breakouts and systematic pyramiding technique + a form of Kelly criteria to control risk) is similar to Darvas technique.

@FinancialWisdom 2 жыл бұрын

Thanks for sharing!

@FinancialWisdom 4 жыл бұрын

My Brokerage Account (Interactive Brokers) - bit.ly/3UGvn1U My Breakout Scanner - bit.ly/3ea6sl8 My Forum - www.financialwisdomTV.com/forum My Strategy Blueprint - www.financialwisdomtv.com/plans-pricing Edgewonk Trade Analysis Software - bit.ly/3xS6S7s Stock Screener & Backtesting - bit.ly/3oO1exN (20% Off Code = FWSDM) Stockopedia - bit.ly/2YIcAIn (25% Discount)

@edenottignon3493 3 жыл бұрын

Thanks again!

@FinancialWisdom 3 жыл бұрын

Any time!👍

@sirsweet3022 3 жыл бұрын

9:06 I can already see that being a total mind melt for most people.

@FinancialWisdom 3 жыл бұрын

no doubt..

@diggiedog548 4 жыл бұрын

Nice one Gareth!

@FinancialWisdom 4 жыл бұрын

Thanks Anthony👍

@umutalper9822 4 жыл бұрын

thanks a lot

@FinancialWisdom 4 жыл бұрын

Your welcome Umut

@Zk8et 2 жыл бұрын

Very good information. 👍👍

@FinancialWisdom 2 жыл бұрын

Glad it was helpful!🙏

@twistedbydsign99 Жыл бұрын

9:00 I learned that the hard way in the 2000s about entering stops ahead of time

@nyayadhwani589 3 жыл бұрын

valuable information

@FinancialWisdom 3 жыл бұрын

Glad it was helpful!

@veag687 3 жыл бұрын

Amazing!

@FinancialWisdom 3 жыл бұрын

Thanks!

@D3vinePurp0se 3 жыл бұрын

Actually reading this book right now. Amazing

@FinancialWisdom 3 жыл бұрын

Thanks Bob👍

@maxwelch4872 3 жыл бұрын

Hello mate, might i ask your thoughts on the book. I'm considering purchasing a copy but would love some insight. How did you find it?

@D3vinePurp0se 3 жыл бұрын

@@maxwelch4872 It was a great book. Very informative. Teaches you alot about trading. More specifically it mostly explains the Turtle Trading Strategy

@mohsinali738 3 жыл бұрын

Good book review sir Love from pakistan Lahore.

@FinancialWisdom 3 жыл бұрын

🙏

@joegadget670 2 жыл бұрын

Didn’t Dennis himself in 1987 lose over 50% of the investment fund he managed? He was sued by his investors for allegedly not following his own system. I think most of the loss happened on Black Monday. Wonder how his turtles did during this event.

@dumbcat Жыл бұрын

something tells me the students received a lot more than 2 weeks of training. no one in the 1980's would give someone a million dollars then walk away and say, "ok see you in four years"

@FinancialWisdom Жыл бұрын

They were well monitored with trading limits..

@GivenMokoteliTV 2 жыл бұрын

Another great video, trend following is one of the most consistent strategies as you make money when the market is bullish and when its bearish!

@FinancialWisdom 2 жыл бұрын

Very 👍

@vivek-hj2um 6 ай бұрын

Hi, it would have been very helpful, if you would have explained with an example position sizing and importantly how stops price is decided to maintain 2% N

@devinsmusicroom4441 3 жыл бұрын

I have the book coming in the mail. Great info, you gave me a great head start. Thank you.

@FinancialWisdom 3 жыл бұрын

Wonderful! Thanks Devins👍

@maxwelch4872 3 жыл бұрын

How was the read? I'm considering doing the same.

@devinsmusicroom4441 3 жыл бұрын

@@maxwelch4872 I enjoyed it. A fun read.

@j.karvindbusinessconsultan4327 4 жыл бұрын

Long time wait for this video sir plse make video like this thank you so much

@FinancialWisdom 4 жыл бұрын

Thanks Kanhaiya, your welcome

@DarkBullCapital 17 күн бұрын

do you have more related and details of turtle trader?

@vivek-hj2um 6 ай бұрын

Stop loss has not been clearly explained can u pls elaborate in detail

@gheadwind 14 күн бұрын

Great job on summarizing the book; however, are you sure the position sizing part is properly covered? I read the book and it seems to me that the Turtles were taking 2% a trade of the account size right from the get go and then pyramiding up to 4-5 units making it 8%-10% of the account placed in one instrument! There is a whole chapter in the book showing precise calculations of adding units! Thanks

@lancepayne9897 10 ай бұрын

The photo portrait featured at the 1:00 minute mark is Paul Tudor Jones, the billionaire trader, not Richard Dennis.

@ahmadabdallah2896 Ай бұрын

do you suggest following (to a certain degree) the teaching of this book in the crypto market? if not could you advise or give other books suggestions?

@PoeNumba1 2 жыл бұрын

nice

@FinancialWisdom 2 жыл бұрын

Thanks

@Weltbummler23 Жыл бұрын

If position size increases with N and stops widen with N, then risk is higher, not lower. What you said doesnt really make sense, but thats ok ill read the book to figure it out.

@kevino4846 2 жыл бұрын

Very interesting. Way back when, I read a book called Making Money, by Howard Ruff. I wondered if you have read it at any point in time and/or would you consider reviewing it. As a beginning trader then, I found a lot of useful information in there. Thanks.

@FinancialWisdom 2 жыл бұрын

I'll check it out!

@td000 2 жыл бұрын

I wonder how relevant these trading styles are with all the algo ai traders out there

@luiz8232 2 жыл бұрын

5 STARS, INDEED.

@FinancialWisdom 2 жыл бұрын

Thanks🙏

@dinakaranvellaisamy1240 2 жыл бұрын

Super bro

@FinancialWisdom 2 жыл бұрын

Thanks🙏

@howardadams9638 4 жыл бұрын

Hi Gareth, another great addition to your library, many thanks. Does the book publish the details of the rules or did you use another source? Regards Howard

@FinancialWisdom 4 жыл бұрын

Hi Howard, thanks. Yes there are 30 pages of the 263 which discuss the rules, I do however in general look for other genuine detail when reviewing books/styles etc I also used "The Original Trading Rules" produced by one of the turtles themselves, I'll get a copy and let you know where to find it.

@howardadams9638 4 жыл бұрын

@@FinancialWisdom Hi Gareth, that's useful many thanks. Regards Howard

@divyanshujindal4584 Жыл бұрын

Can you give the name of that book

@bluejazzman 2 жыл бұрын

@7:47 - did he say their strategy is to buy high and sell low? Can someone help explain that to me?

@TenTonNuke Жыл бұрын

Growing 400 dollars to one million in 1975 is the same as growing 2,200 dollars to 5.5 million today. He did what small account traders dream about. So it is possible.

@mk-if587 2 жыл бұрын

🔥🔥🔥🔥

@FinancialWisdom 2 жыл бұрын

🙏

@JoeM370 6 ай бұрын

I'm astounded by the profundity of this content. A book with similar substance expanded my thinking. "Mastering Money Mindfulness" by Benjamin Hawk

@izzyrov5814 3 жыл бұрын

So well presented!!! *Subscribes*

@FinancialWisdom 3 жыл бұрын

Thank you so much!

@izzyrov5814 3 жыл бұрын

@@FinancialWisdom Looking forward to your other videos ❤

@mizzop 3 жыл бұрын

Fxgoat brought me here😅🔥🇧🇼

@FinancialWisdom 3 жыл бұрын

Great🙏

@lakhangangurde190 3 жыл бұрын

Very very nice video sir 👌 Please make video on trading book summary

@drjems 4 жыл бұрын

Excellent...Very enthusiastic... Are you a trader or Investor

@FinancialWisdom 4 жыл бұрын

Thanks Jemin! Yes, i would say 80% trader 20% investor - I use weekly timeframe technicals with some fundamentals.

@drjems 4 жыл бұрын

@@FinancialWisdom All the best

@mahenmahen5504 2 жыл бұрын

Is this book or this video is depicting original turtle trading

@deekondarajesh6460 3 жыл бұрын

This book avalable in telugu language?

@thincers 2 жыл бұрын

I have been following turtle trading, for about 3-4 months in forex. The results are satisfactory, i'm sure that I'll learn more in coming months. But, just One questions. How do you incorporate, DOLLAR PER PIP in your position sizing calculation. Right now I'm just buying/selling 1000 units

@FinancialWisdom 2 жыл бұрын

I use stocks personally

@abdupallikandam3489 Жыл бұрын

Following trading rules is as tough as quitting smoking 🚭

@FinancialWisdom Жыл бұрын

Equally as bad if you don't

@MartinSage 2 жыл бұрын

What happened during the Black Monday October 1987 Crash? Mr. Dennis ,like many, lost his shirt. His Strategy stopped working but with some tweaking ie changing 20 ma to 200ma breakouts can produce 30% returns.

@FinancialWisdom 2 жыл бұрын

Sensible stop losses and sensible stop losses within market structure is the key. Not sure he did that

@ProGunz21 Жыл бұрын

please review Trend Following_ How to Make a Fortune in Bull, Bear and Black Swan Markets

@FinancialWisdom Жыл бұрын

Thanks Joe. Noted

@mahenmahen5504 2 жыл бұрын

If rechard Dennis has written anything about his experiment?

@benjiebarker Жыл бұрын

10:30 aren’t the trailing stops the exits…when do you use these 10-20 day exits?

@alecb8509 Жыл бұрын

That's what i was thinking. 10-20 exits do not make sense.

@opentrunk 3 жыл бұрын

But what doesn't make sense to me is this: This system is now well known by lots of people. If the results were as good as advertised then everybody would be using the system. But that's not happening. Why not? I know there are millions of trend followers out there, but they aren't averaging 80%/yr.

@FinancialWisdom 3 жыл бұрын

Hi opentrunks, many struggle on the discipline and psychology of following such a strategy, there are many earning those kind of returns but perhaps not mainstream because the money involved can skew the returns, and of course the risk/drawdown aspect.

@TH-du8nc 2 жыл бұрын

There are probably lots of guys making decent money of this but they are just not big enough or well known enough that you would hear about them. Probably few make the 9 figure sums but there probably a decent amount of 7 figure turtle traders out thers

@manaseeker2414 2 жыл бұрын

if more trend traders follow the system, then price would go up simultaneously with all trend traders noticing the trend until the trend started reversing and then everybody would hop out at similar times. the trick is to get in and out at the right time and i guess we know that that's super hard to nail in practice

@sommi888 Жыл бұрын

❤💛💚💙 the period the turtles traded was a huge "up only" trendy commodity period . markets have changed . everyone has tried to do turtle trading algorithms and got rekt to copy their rules

@Galaxyfe 2 жыл бұрын

Great vid.. btw how do you know when to use 1N or 2N?

@FinancialWisdom 2 жыл бұрын

Cant recall, does it not say in video?

@Galaxyfe 2 жыл бұрын

nope... Watched it twice

@BuddhistZenDave 2 жыл бұрын

This is one of those things you start doing after repeatedly breaking even despite great gains. Like just use the system dummy and make some profit.

@FinancialWisdom 2 жыл бұрын

So true

@Martin-ql2bd Жыл бұрын

How do you explain Stanley Drunkenmillers statement that he Never had a stop when trading? I'm sure trading huge amounts that are watched by other traders is far from being a small time retail trader that nobody is watching.

@jerryware1970 Жыл бұрын

22 day high or low, or 55 day high or low

@Mike-kg3hd 2 жыл бұрын

so is this book helpful for commodities trading or stock trading also?? anyone knows ?

@FinancialWisdom 2 жыл бұрын

Some of the principles should hold strong in both, but I would advise backtesting first

@casanova1012 Жыл бұрын

im pretty sure thats PTJ @ 1:09

@jameswalker366 3 жыл бұрын

Could these rules not be simply created as part of a trading bot/quant strategy, and left to run?

@FinancialWisdom 3 жыл бұрын

Doubtful James... But i'm sure many of the principles are included in the many bots about

@routinetrader 8 ай бұрын

Are you aware of any resources explaining how/why Stig Ossgard outperformed?

@TheSvs1 2 жыл бұрын

are there any recommended course for it?

@FinancialWisdom 2 жыл бұрын

Not for that strategy - But mine is available of course😊

@maldighaithir 3 жыл бұрын

How do the turtle traders choose a stock to trade?

@FinancialWisdom 3 жыл бұрын

hi, Price action predominantly

@williamkz 4 жыл бұрын

Thanks Gareth. Another excellent review of risk management. It would be interesting to know why some turtles did better than others. Were some not keeping to the rules? Or was it luck?

@FinancialWisdom 4 жыл бұрын

Hi William, good question, at the initial stages of the experiment some Turtle candidates were removed due to not sticking to the rules. For reasons not completely explained in the book many traders were given significantly different amount to trade too. However, from a % return perspective I guess an element of luck contributed, but overall the outperformance of all the traders against the benchmark was no coincidence, a clear correlation from the training method was evident.

@williamkz 4 жыл бұрын

@@FinancialWisdom Thanks Gareth. Yes. the overall results must be highly significant.

@annsinden6198 3 жыл бұрын

Most likely because of choice of stocks too.

@mrdanforth3744 2 жыл бұрын

The system they used had many significant losses and a few giant winners. The idea was to get in on a trend on the ground floor, but many trends fail to develop. After getting shot down in flames 3 or 4 times and losing 50% of their account you can see why a trader would be gun shy. If he then decided not to take a trade, and that trade turned out to be one of the 2 or 3 big winners of the year that one decision could cut his returns in half. This is one reason for poor performance, another was not sticking to the system and getting ideas of their own. The most successful ones stuck to the rules, or else got lucky when they broke them.

@califcamper 2 жыл бұрын

@@mrdanforth3744 yes for sure, I.would say that there are variables to all this, one plus for those getting to read this book is it's a start where without it is? So there we go, knowledge is priceless, there are other strategies out there too...Trade management is key, and trade psychology transforms to trade management, but first one must have a theoretical winning strategy...Slow but steady wins the race

@DTradesFX2 Жыл бұрын

They were smart. They didn't reveal their stop loss positions. Today we call it "Market Makers", "Stop Hunts", Etc.....

@MassivexL 4 жыл бұрын

Hey. Any book suggestions for value/growth investing?

@FinancialWisdom 4 жыл бұрын

Hi Ohhhhh, there are many books and gurus promoting either style, what I would suggest is looking at the site I use www.stockopedia.com/new/?coupon=fw25 - They offer an excellent service covering growth,value and momentum investing etc👍

@hasanz5259 4 жыл бұрын

I own this book... ...and this review is 🔥

@FinancialWisdom 4 жыл бұрын

Thanks Hasan

@rgahrens 2 жыл бұрын

Why is there a picture Paul Tudor Jones in the beginning? That is not Richard Dennis!

@FinancialWisdom 2 жыл бұрын

I know, it has been pointed out a few times☺ rookie error...

@jamesharris4432 6 ай бұрын

2% is too close a stop loss ! Market makers can see your stops and can hold sell orders to take them they make money on you, I set them for 10 to 20% I don’t care if I lose 20 bucks on a hundred but I’ll pay that or more if my stops are too tight

@FinancialWisdom 6 ай бұрын

It's 2% of equity not position

@thomasdr08 2 жыл бұрын

Is this where “Trading Places” came from?

@FinancialWisdom 2 жыл бұрын

Possibly yes....

@dimitrivancamp1013 2 жыл бұрын

Richard Dennis blew up his fund in the crash of ‘87

@xijinping4210 3 жыл бұрын

Hey there is video in your ads

@FinancialWisdom 3 жыл бұрын

haha, sorry...

@robertb3145 Жыл бұрын

I wonder if they placed a limit or market order once it broke out

@richardcrown9764 Жыл бұрын

REACH HER ON HER TELEGRAM

@richardcrown9764 Жыл бұрын

Silviamorgan is her username for help

@tomc3130 4 жыл бұрын

Does these methods apply to the stock market? Or only relevant for commodities?

@FinancialWisdom 4 жыл бұрын

Hi Tom, i believe i commented to a similar question yesterday, the principles remain the same, controlled risk whilst allowing the trend to provide a good risk/reward profile. Obviously the liquidity aspect would play a part depending on the amount you were looking to trade. I use similar practices on equities myself with good results. Hope this helps.

@liujon8333 4 жыл бұрын

Simply answer: No. Your performance of trading stock market is more depend on your portfolio construction method.

@mrdanforth3744 2 жыл бұрын

Trend following systems work with stocks that trend. Not all stocks are suitable. I have had good success trend following in TQQQ an ETF made up of tech stocks like Apple, Netflix, Alphabet, etc. You need to find a stock that makes large consistent up moves.