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 enlarge | Author: Curtis Faith
Publisher: McGraw-Hill Professional
Category: Book
List Price: £17.99
Buy New: £9.92
You Save: £8.07 (45%)
Rating:  11 reviews
Sales Rank: 3353
Media: Hardcover
Edition: 1
Number Of Items: 1
Pages: 288
Shipping Weight (lbs): 1.3
Dimensions (in): 9.1 x 6.1 x 1.1
ISBN: 007148664X
Dewey Decimal Number: 332.6452
EAN: 9780071486644
ASIN: 007148664X
Publication Date: April 1, 2007
Availability: Usually dispatched within 1-2 business days
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| Customer Reviews:
 Just Shows It Doesnt Have To Be Difficult September 4, 2007
2 out of 2 found this review helpful
I was very surprised by how simple a system is outlined and with money management and keeping to the system exactly you can make money.
The key is money management and keeping it as mechanical as possible.
Worth a read.
 Brilliant August 21, 2007
This book is an excellent and essential read. Why pay unscrupilous websites a fortune when the secrets of these legendary traders are laid bare in this book.
However, I am a little confused why the author didn't follow some of his fellow Turtles into fund management (the rewards are fantastic) but that aside, I think Faith does a good job of providing an interesting "walts and all" account of life in the Richard Dennis trading academy as well as revealing the original methods used.
This book is an excellent primer for anybody looking to develop a technical trading strategy.
Superb How To Book August 20, 2007
11 out of 11 found this review helpful
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.
excellent June 9, 2007
11 out of 13 found this review helpful
This book is worth having just for the extensive section on the perils of backtesting - I've never seen a thorough discussion of this topic anywhere else. The book also discusses the psychological aspects of trading in considerable detail. Low price, high value.
A superb primer April 5, 2007
11 out of 12 found this review helpful
To anyone who has had the pleasure of working with Mr Faith's and Mr Arnold's superb back testing software over the past few years (Trading Blox), the excellence of this book will come as no surprise. Both the book and the software are "must haves" for anyone with an interest in trading or investment. The concentration is on trend following - the Turtles were intermediate term trend followers. The software itself however can be used for testing almost any trading strategy and plans are well in place for a version which uses intra day data.
The lessons to be learned from Mr Faith's book can be applied not only to futures but to shares, ETFs and mutual funds. The premise is that a successful trading or investment strategy need not (perhaps should not) be complex and detailed systems are discussed and back tested results published.
Unlike other offerings on the market, the book is not full of vague waffle. It is specific and to the point and shows you what you need to know to get going along the path of successful trend following. As a bonus, the original and exact Turtle Trading rules are set out in full as an appendix to the book. Better still, the book details a simpler and better Turtle like system, more appropriate perhaps to today's markets.
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