Turtle trading forex expert traders

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The original Turtles traded futures so obviously we will not be doing that and test it out on one of the currency pairs. These are the admittedly, simplified rules: Entry: buy when the price exceeds by a single tick the high of the previous 55 days.

People are responsible for any losses that may incur if traded live. The more advanced position sizing or even just using the system 1 or a combination thereof may yield better results. Also, 5 years is not enough data to confirm if a strategy works, usually I test my own automated strategies on at least 10 years of price data.

Rather, this was an exercise in building a simple expert advisor based on the foundation of the turtle trader rules. The Turtle Experiment By the early s, Dennis was widely recognized in the trading world as an overwhelming success. He and his partner, Eckhardt, had frequent discussions about their success. Dennis believed anyone could be taught to trade the futures markets , while Eckhardt countered that Dennis had a special gift that allowed him to profit from trading.

The experiment was set up by Dennis to finally settle this debate. Dennis would find a group of people to teach his rules to, and then have them trade with real money. Dennis believed so strongly in his ideas that he would actually give the traders his own money to trade.

The training would last for two weeks and could be repeated over and over. He called his students " turtles " after recalling turtle farms he had visited in Singapore and deciding that he could grow traders as quickly and efficiently as farm-grown turtles.

Finding the Turtles To settle the bet, Dennis placed an ad in The Wall Street Journal, and thousands applied to learn trading at the feet of widely acknowledged masters in the world of commodity trading. Only 14 traders would make it through the first "Turtle" program. No one knows the exact criteria Dennis used, but the process included a series of true-or-false questions, a few of which you can find below: The big money in trading is made when one can get long at lows after a big downtrend.

It is not helpful to watch every quote in the markets one trades. Others' opinions of the market are good to follow. On initiation, one should know precisely where to liquidate if a loss occurs. For the record, according to the Turtle method, 1 and 3 are false; 2, 4, and 5 are true. The Rules Turtles were taught very specifically how to implement a trend-following strategy.

The idea is that the "trend is your friend," so you should buy futures breaking out to the upside of trading ranges and sell short downside breakouts. In practice, this means, for example, buying new four-week highs as an entry signal. Figure 1 shows a typical turtle trading strategy. Figure 1: Buying silver using a day breakout led to a highly profitable trade in November Source: Genesis Trade Navigator This trade was initiated on a new day high.

The exit signal was a close below the day low. The exact parameters used by Dennis were kept secret for many years, and are now protected by various copyrights. In "The Complete TurtleTrader: The Legend, the Lessons, the Results" , author Michael Covel offers some insights into the specific rules: Look at prices rather than relying on information from television or newspaper commentators to make your trading decisions.

Have some flexibility in setting the parameters for your buy and sell signals. Test different parameters for different markets to find out what works best from your personal perspective.