Product Description

After 25 years, the Turtles come out of their shells

"I could teach a turtle to trade."

While sightseeing at a turtle farm, legendary commodities trader Richard Dennis bet Bill Eckhardt that great traders didn't have to be born - they could be taught. To settle the wager, they recruited 23 individuals from all walks of life, gave them accounts to trade, and trained them for two weeks - hence the Turtle Traders.

The Turtles of 1983 earned more than $100 million in less than four years, becoming part of the most famous experiment in trading history. Dennis had won his bet. But the secret to this success has been a mystery - until now.

Shrouded in secrecy for nearly 25 years, the most successful Turtle Trader of them all breaks the silence, revealing his most lucrative trading strategies - and the Turtle legend

Curtis Faith, who was 19 years old when he joined the Turtles, went on to become the most successful member of the group. For the first time, he explains the wildly successful Turtle system-the rules, timing, risks, and rewards that can deliver enormous profits. Faith also shows you how to use this system in the modern market-including how to select the right trades, smooth out returns, effectively diversify, and know when to exit a winning trade.

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Product Details

• Amazon Sales Rank: #337 in Books
• Published on: 2007-04-01
• Number of items: 1
• Binding: Hardcover
• 288 pages

Synopsis
After 25 years, the Turtles come out of their shells. "I could teach a turtle to trade." While sightseeing at a turtle farm, legendary commodities trader Richard Dennis bet Bill Eckhardt that great traders didn't have to be born - they could be taught. To settle the wager, they recruited 23 individuals from all walks of life, gave them accounts to trade, and trained them for two weeks - hence the Turtle Traders.The Turtles of 1983 earned more than $100 million in less than four years, becoming part of the most famous experiment in trading history. Dennis had won his bet. But the secret to this success has been a mystery - until now. Shrouded in secrecy for nearly 25 years, the most successful Turtle Trader of them all breaks the silence, revealing his most lucrative trading strategies - and the Turtle legend Curtis Faith, who was 19 years old when he joined the Turtles, went on to become the most successful member of the group. For the first time, he explains the wildly successful Turtle system - the rules, timing, risks, and rewards that can deliver enormous profits.Faith also shows you how to use this system in the modern market - including how to select the right trades, smooth out returns, effectively diversify, and know when to exit a winning trade.

'The most successful turtle was apparently Curtis Faith. Trading records show that Mr. Faith, who was only 19 when he started the program, made about $31.5 million in profits for Mr. Dennis' - Stanley W. Angrist, "Wall Street Journal".

From the Inside Flap
"We're going to raise traders just like they raise turtles in Singapore."

So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt nearly 25 years ago. What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety.

Way of the Turtle reveals, for the first time, the reasons for the success of the secretive trading system used by the group known as the "Turtles." Top-earning Turtle Curtis Faith lays bare the entire experiment, explaining how it was possible for Dennis and Eckhardt to recruit 23 ordinary people from all walks of life and train them to be extraordinary traders in just two weeks.

Only nineteen years old at the time - the youngest Turtle by far - Faith traded the largest account, making more than $30 million in just over four years. He takes you behind the scenes of the Turtle selection process and behind closed doors where the Turtles learned the lucrative trading strategies that enabled them to earn an average return of over 80 percent per year and profits of more than $100 million. You'll discover:

• How the Turtles made money-the principles that guided their trading and the step-by-step methods they followed
  
• Why, even though they used the same approach, some Turtles were more successful than others
  
• How to look beyond the rules as the Turtles implemented them to find core strategies that work for any tradable market
  
• How to apply the Turtle Way to your own trades-and in your own life
  
• Ways to diversify your trading and limit your exposure to risk
  

Offering his unique perspective on the experience, Faith explains why The Turtle Way works in modern markets, and shares hard-earned wisdom on taking risks, choosing your own path, and learning from your mistakes.

From the Back Cover
From the Preface: At the end of the trial trading period, which lasted one month, Rich evaluated our performances. Some Turtles received the full $1 million to trade, others were given smaller accounts, and still others were told to keep training with the original account size. Rich gave me a $2 million account, and for the duration of the program I continued to trade the largest account for him.

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Customer Reviews

Disappointed
I have to say this book disappointed me. I have read numerous articles on 'The Turtles' and Curtis Faith and was really looking forward to a 'warts and all' account of his time as a turtle. I was expecting something similar to 'Pit Bull' by Schwartz. This book does not deliver in this arena.

I did perserve and as a trading book however it is strong - explaining how to develop strategies, back-test, the importance of money management and so forth.

I think therefore that the title of the book is misleading but then again who would have bought a book called 'Curtis Faiths guide to Trading'

Intriguing look inside the head of a million-dollar trader
This trading-room memoir harks back to a group of novices whom experts recruited in the 1980s and - to fulfill a bet - trained to be traders. The training worked, according to the most successful student, author Curtis M. Faith. His memoir promises what any capitalist would love to possess: the secret to making money in volatile markets. Alas, Faith tells us, there is no secret. Successful traders analyze markets to find an edge, then remain disciplined enough to pursue that edge, even when their hearts and their guts try to overrule their brains. In spite of constant references to Donchian channels and Sharpe ratios, Faith assures readers that trading isn't a matter of using secret formulas but of applying time-tested wisdom. His tome is intriguing because it lets you inside the thoughts of someone who made $30 million as a trader (so no wonder he tends toward the self-congratulatory, though his anecdotes are entertaining). We recommend this to traders seeking an advantage and to those who want to watch the experts try to beat the odds.

Just Shows It Doesnt Have To Be Difficult
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.