The Complete TurtleTrader
The Complete TurtleTrader

The Complete TurtleTrader

He was most taken with British philosophers David Hume and John Locke, who had a relatively simple way of viewing the world. “Prove it to me” was their basic perspective. (Location 334)

Russell. I’m solidly in the English tradition.” Dennis saw Hume as ruthlessly skeptical. Hume took on the sacred cows of his generation, and Dennis loved that attitude. (Location 343)

I’ve learned that markets, which are often just mad crowds, are often irrational; when emotionally overwrought, they’re almost always wrong.8 After graduating from DePaul (Location 350)

Dennis read Psychology Today (no government economic or crop reports for him) to keep his emotions in check and to remind him of how overrated intuition was in trading. (Location 378)

Go down to Wall Street today after work with the hot-shot traders all earning $500,000 a year at the big banks and you’ll find very few who talk about Freud being the ticket to making millions. (Location 425)

but if the Turtles entered this no-limit environment and didn’t protect their scarce capital, then sooner or later the probabilities would catch up with them. (Location 1030)

System One (S1) used a four-week price breakout for entry and a two-week price breakout in the opposite direction of the entry breakout for an exit. If a market made a new four-week high, the Turtles would buy. They would exit if/when it made a two-week low. A two-week low was a ten-day breakout—counting trading days only. (Location 1430)

Turtles kept (Location 2454)