Richard Dennis on Turtle Trading

The key is consistency and discipline. Almost anybody can make up a list of rules that are 80% as good as what we taught. What they can't do is give (people) the confidence to stick to those rules even when things are going bad.

Richard J. Dennis, a commodities trader once known as the "Prince of the Pit," was born in Chicago, in January, 1949. In the early 1970s, he borrowed several thousand dollars and reportedly made $200 million in about ten years. When a futures trading fund under his management incurred significant losses in the stock market crash of 1987 he retired from trading for several years. He has been active in Democratic and Libertarian political causes, most notably in campaigns against drug prohibition....

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Curtis Faith was one of the original turtles. His book, Way of the Turtle : The Secret Methods that Turned Ordinary People into Legendary Traders, is a very good reading on how the turtle trade.

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