Way of The Turtle - Faith, Curtis
Recommended reading at Amazon
http://www.amazon.com/Way-Turtle-Methods-Ordinary-Legendary/dp/007148664X
Legendary trader Richard Dennis selects 23 individuals to train as traders and prove his opinion that traders are made and not born.
One of those select traders was 19 years old Curtis Faith who relates the story and the principles adhered which brought trading success.
Step by step inculcation of market risk and asset allocation and the discipline of the mind to adhere to such rules is the essence of the success that Curtis faith attempts to share with his readers.
This book is very illuminating given its demonstration of a core fundamental belief which I myself share. Although the trading experience covers mostly the futures markets, much of its core philosophy is applicable to the currency markets as well. After several years of currency trading in the City of London I had the opportunity to make several observations of human character under intense pressure within the currency markets. Importantly, I came to the conclusion that there is no process of natural selection. There is no such thing as genius in the currency markets; were there room for such genius then or course, Long Term Capital Management and Lehman Brothers would still be in business. But there is nothing inherently unique in our genetic makeup which distinguishes one individual from another to be inherently born with any particular native genius or proclivity to make money consistently in the markets. Market precepts can be learned. Through constant repetition of trading rules, a trader can grasp a core foundation of beliefs to fall back upon during heated moment of financial crisis. As much as Latin grammar was ingrained into my soul through painful rote learning from a young age; so too can certain principles of trading be taught through repetition! Dealers are trained to assimilate risk in this manner and build upon opportunity.
The Turtle method exemplifies this process of market education by repetition. This book clearly shows that by abiding by the rules a trader can secure positive results in the long run because the art of trading is about the numbers game and probabilities. Work methodically with mathematical precision and the odds move in your favor by repetition and sticking with the rules no matter how bad the day becomes. Even a small number of troops can move together in the markets like in a phalanx formation, and confront a larger force with the safe knowledge that a victory can be secured.
Pieter Bergli _ DeLoren Trust Holdings
Forex education
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers.
