| Cover |  |
| Original Publication Date | 2007 |
| Topics | Trading, Trend Following, Psychology, The Turtles |
| Audible | No |
| Similar Titles | |
| Works from Same Author | Inside the Mind of the Turtles |
The Way of the Turtle by Curtis M. Faith is a fascinating read that delves into the story of a unique experiment conducted by two legendary traders, Richard Dennis and William Eckhardt. In the early 1980s, these two traders set out to prove that anyone could be taught to trade successfully by following a set of specific rules.
The experiment was based on the premise that trading success is not determined by innate talent or natural ability, but by a set of rules that can be taught and learned. The traders recruited a group of novices, whom they called “turtles,” and taught them a set of rules for trading. The rules included specific entry and exit points, risk management guidelines, and position sizing principles.
The book describes the training process and the rules that the turtles were taught, as well as the performance of the turtles over several years. It also provides insights into the psychology of trading and the importance of discipline and patience in the pursuit of trading success.
One of the strengths of the book is the author’s ability to provide a clear and concise explanation of the principles behind the trading rules. He uses examples and anecdotes to illustrate the concepts and makes the material accessible to both novice and experienced traders.
Another strength of the book is its focus on risk management. The turtles were taught to focus on managing their risk and limiting their losses, rather than chasing profits. The author emphasizes the importance of risk management in trading and provides valuable insights into how to manage risk effectively.
Overall, “The Way of the Turtle” is a well-written and engaging book that provides a fascinating glimpse into the world of trading. It offers valuable insights into the psychology of trading and the importance of discipline, patience, and risk management in the pursuit of trading success. The book is a must-read for anyone interested in trading or investing.