|
PureBytes Links
Trading Reference Links
|
>And, of course, there is Russell Sands, but he
> reportedly was dropped from the program before learning the fine points
> of money management and trade tactics.
Russell did complete the program. Russell was soundly denounced because he
was the first to divulge the Turtle program. I sat in the first workshop
Russell conducted after he broke the "silence". Russell Sands is also a
very astute blackjack player. Strictly in the professional class. I was
more impressed with his casino play than the Turtle System. Larry Connors
was one of the first to take the Turtle System and use it in a contrarian
way. Once the system was brought into open light, the effectiveness of the
original method was diminished.
Al
----------
> From: Owen Davies <owen@xxxxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Turtle Trader System
> Date: Friday, August 24, 2001 7:15 PM
>
> Robert Badgley blustered:
>
>
> > The entry and exit on the turtle system is only about 30% of the system
> most
> > of the money is made with money management.
>
> Yup.
>
> > L. Williams needs to more
> > throughly investagate before writing about something he does not
> understand.
>
> Oh, come on. I've seen the basics of Turtle money management in public
> literature, and I have never even gone looking for it. If memory serves,
> Van Tharp presents one of the key features in his book, though I'm not
sure
> he identified it as such. And, of course, there is Russell Sands, but he
> reportedly was dropped from the program before learning the fine points
> of money management and trade tactics. With all the information that
> has come out about the Turtles system, it would amaze me if Williams
> didn't understand the critical aspects of it. Nothing in this thread
> indicates
> that he did not, other than that his results displease you.
>
> Incidentally, how did you get to be an expert on Turtles-style money
> management?
>
> > It is working and always will work if used with Turtles money
management.
>
> Ah, so that explains why Dennis blew out so badly in the early '90s.
> In my ignorance, I'd imagined it was because the system ran into a period
> when it did not work. Like every other system I've ever heard of.
>
> > Thats like taking an engine out of a car and saying the car does not
run
> of
> > course not you need the whole car including the engine.
>
> It would be, if that's what Williams had done. Again, nothing in the
> message you are responding to addresses this issue. For all we know,
> he may have done it exactly as Dennis prescribed.
>
> Maybe it's worth noting that I've never seen a money management
> technique that turns a loss into a win. Some that would keep you out
> of the market when you were likely to have a loss; I'd call that
> trading tactics, but if you wish to view it as money management,
> I won't argue the point. Most discussions of the Turtle technique
> do seem to prefer that term, now that I think about it.
>
> Robert, I don't usually take people to task this way, and I apologize
> for giving in to the impulse in your case. However, your response to
> Brian is seriously dogmatic and combative, especially given that you
> provide no evidence at all to support your position. Larry Williams
> is one of those figures in this industry who inspire strong feelings,
often
> negative, and you leave me wondering whether your message was
> motivated more by animus than by knowledge.
>
> If you have evidence to support the continued success of Turtle Trading,
> including the money management procedures, I'd love to hear it. My
> strong impression, based on interviews and suchlike, has been that the
> original Turtles who are still trading have altered the technique to suit
> today's market conditions or have gone on to other methods entirely.
>
> Owen Davies
|