Faith Curtis was an original member of the group that took part in the exhilaratingly famous Turtle trading experiment.
This experiment was due to an argumentative bet between 2 trading experts, who happened to be friends.
Richard Dennis and William Eckhardt. Dennis was known as Prince of the trading pit.
Dennis' argument was, simply anybody - highly gifted people not needed - can be taught his very successful system and he/she will be successful. William was all for inate ability of the trader...according to him the mandatory ingradient to become successful at trading.
World had to listen...Dennis was right...the "Turtles", did fantastically well and made millions on the experiment!
This is a very significant message for any up and coming trader.
What is VERY important is sticking to a trading system
- which has good balance of cutting losses QUICKLY and letting winning positions go SUFFICIENTLY uninterrupted.
Following are some excerpts from the book by Faith Curtis.
Are you kidding?
Why are some of the Original Turtles giving away Rules for which
others have charged thousands of dollars? Are these the actual
Original Turtle Trading System rules?
ou probably asked yourself the same
questions: “Why would anyone give
away the rules to the original Turtle
Trading System? How can I be sure that
these are the original Turtl
e Trading System rules as
taught by Richard Dennis
and William Eckhardt?” The answer to
these questions lies in the origin of
The Origin of the Free Rules Project
This project had its seed in
various discussions among a few
of the original Turtles,
Richard Dennis, and others regarding the sale of the Turtle
Trading System rules by a former turtle, and subsequently, on a
website by a non-trader. It culminated in this document, which
discloses the Original Turtle Trad
ing Rules in their entirety, free
Why? Because many of us believed that we owed an obligation
to Richard Dennis not to reveal the rules,
even after our contra
ctual 10 year secrecy
pact ended in late 1993.
For this reason, we di
d not look kindly upon the sale of those
rules by a former turtle.
Further, we saw the sale on the web site as
crass and opportunistic intellectual property
theft, an act that, while technically not
illegal, was certainly not honorable.
At the same time, having seen
others try to follow these ru
les first-hand, I realized it
was unlikely that their publication would result in very many people actually learning rade like the Turtles. In fact,
I knew that most of those who spent thousands to learn
these heretofore secret rules would en
d up disappointed, for three reasons:
The rules wouldn’t be clear, since the people selling them didn’t know how to
Even if they were clearly presented, the
buyers probably wouldn’t be able to
follow the rules.
Most of the Turtles are now
trading even better rules. "
The Ugly Truth about the System Sellers
I’ve been trading and hanging around tradin
g circles since high school. One of the sad
realities of the trading indust
ry, and the futures trading industry in particular, is that
there are far more people making money se
lling others’ systems and “ways to make
money trading,” than there are peopl
e actually making money trading.
I won’t go into specifics here, but those of us who actually trade for a living know the
names of many “famous traders” who are famous as “traders,” but that don’t make
money as traders. They make money selling new trading systems, seminars, home
study courses, etc. Most of these so called
“experts” can’t trade and don’t trade the
systems that they sell.
Yes, this is also true of thos
e selling the Turtle Trading Rules.
Since we offer the rules here for free we d
on't see why anyone would pay for these
rules anymore but that doesn't stop people from trying to sell them.
Before taking any advice, buying any courses
offering to teach you how to trade, or
purchasing a system, investigate the se
llers very thoroughly. There are many
unscrupulous vendors who are
not what they appear. Before
placing an order, search
the internet and find out what previous purc
hasers thought of the course, seminar, or
Were the Turtles given a comprehensive trading system, that can't be failed? You bet...Following excerpt is the starting point for that discussion:
The Turtle Trading System was a Complete Trading System, one
that covered every aspect of trading,
and left virtually no decision to
the subjective whims of the trader.
ost successful traders use a mechanical trading system. This is no
A good mechanical trading system automates the entire process of trading.
The system provides answers for each of
the decisions a trader must make while
trading. The system makes it
easier for a trader to trade
consistently because there is a
set of rules which specifically define exactl
y what should be done. The mechanics of
trading are not left up to
the judgment of the trader.
If you know that your system makes money over the long run, it is easier to take the
signals and trade according to the system duri
ng periods of losses. If you are relying on
your own judgment during trading, you may
find that you are fearful just when you
should be bold, and courageous when you should be cautious.
If you have a mechanical tr
ading system that works, an
d you follow it consistently,
your trading will be consistent despite the
inner emotional struggles that might come
from a long series of losses, or a larg
e profit. The confidence, consistency, and
discipline afforded by a thoroughly tested
mechanical system are the key to many of
the most profitable traders’ success.
The Turtle Trading System was a Complete"
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