Way of the Turtle: The Secret Methods That Turned Ordinary People Into Legendary Traders: The Secret Methods That Turned Ordinary People Into Legendary Traders
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Way of the Turtle: The Secret Methods That Turned Ordinary People Into Legendary Traders: The Secret Methods That Turned Ordinary People Into Legendary Traders

3.49 of 5 stars 3.49  ·  rating details  ·  563 ratings  ·  41 reviews
"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 t...more
ebook, 240 pages
Published March 30th 2007 by McGraw-Hill (first published March 9th 2007)
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Austin
While I fully acknowledge that the momentum space is obscenely crowded these days, and this book (as well as Market Wizards Interviews with Top Traders and some other notables) runs the risk of giving the impression that any 21 year old with a laptop should be running his own hedge fund, the reality is that this is the best book I have ever read on the topic of trend following. Not only does it scratch the itch of finally stating precisely what those damn "turtles" were up to, it actually contai...more
Jose
It is a good book that is meant to humble anyone who can "beat the market".
Bowei Chi
This book offers insights of a legendarily successful trader to people who is considering putting serious efforts into investing. It starts with some story telling resembles biography of the author, which is actually entertaining in some sections. The book becomes more and more technical as it progresses. It could turn dry in many chapters of trading analysis if you're not looking for the technical aspect of it.

Many thought that the book will disclose secret of successful trading, but it's actua...more
Albert
Jun 01, 2008 Albert rated it 3 of 5 stars  ·  review of another edition
Recommends it for: traders
The book is marketed as the story of the journey of a group of young people who were selected by two wealthy guys to become traders. The problem with this: this book is more of a how-to trade, how-to evaluate your systems, along with general advice about attitudes that should be taken towards trading. This is fine, and the book does a good job doing what it does, but it is not -- NOT -- the thrilling story of a group of young traders thrown into the pressure cooker of trading and their hijinks a...more
Heidi Thorsen
I was expecting more about the specific training the turtles received. I was somewhat disappointed at the material included on that subject, but the book was still a worthwhile read.

I thought the chapter on risk and money management was particularly good, as well as the chapter that detailed the perils of over-fitting your strategies to the bactesting data.

I'm not sure you'll be able to "trade like a turtle" after reading the book, but it will give traders quite a few good ideas to consider.
Zbyszek Sokolowski
The book is pretty good it describes that trading is hard job which demands good preparation, a lot of patience. Strategy must be completed with risk assessment. I think that turtles were successful because they have one of the best mentors and at their time market was much simpler than nowadays. Anyway whether you are discretionary trader or automation fan it is worth reading.
Bhavin
Very good book about Technical Trading. It is also philosophical and explores human psychology. One chapter includes the specific filters that the now legendary group Turtles used to earn extremely high returns for years, the author being the best performing amongst this legendary group.
Jeremy Elliott
The recap of the Turtles is interestingly 3-star. But what stands out is the author's explanation of the different roles (investors, traders, arbitragers, etc) that play out in the market and his chapter on volatility-based risk adjustment units used in position sizing.
Josh Kelly
Very interesting book, especially for someone whose kind of math geeky like Faith. Couldn't finish it cause ultimately I'm not THAT interested/don't have that much attention span for trading (as appose to investing which I'm much more interested in).
Russ
Are you serious about trading financial instruments - stocks, options, futures, etc? If so, this book should be in your reading list. You will learn a systematic and psychological approach to trading.
Anonymole
Basic test [yes/no:]: Would I recommend you read this book or not. Was it worth the few hours spent reading it? Am I pleased that I spent the time reading it? --- Yes ---
Gekko
Mildly interesting when read as an autobiography of one of the "turtle" traders. But as a "how-to" guide for making money in today's markets: complete hocum.
David Donhoff
IMPOSSIBLE to rate this high enough... for anyone serious about systematic, non-emotional, non-drama trading/investing.
Laura
Suggested by my husband, I realized that I have absolutely no interest in this subject....officially abandoned.
Ben
Will definitley give you a good perspective on all those 'genius' traders out there. Not far off from Trading Places.
Mike
On page 179 so far. Wish there were more examples, real life examples, from Curtis' experience as a Turtle.
Hal
A fairly good book on trading concepts and mindsets. Curtis Faith being one of the original and more successful of the Turtle group. Some criticism of special treatment had been leveled at him of favoritism by other members which he addresses. Essentially Curtis says he was successful because he followed the rules and was more disciplined. He offers some pretty solid and realistic advice on what it takes to survive and then succeed in the rough and tumble world of trading. Though the experiment...more
John Boettcher
Never really lets you in on the secret of what the Way of the Turtle really was. A letdown.
Hesham
this is the book that made me stop trading.. I knew I am not cut for it...
Mike
For someone beginning a trading career, this is an inspiration.
Glen Fullmer
Great for understanding trend following investing.
Diego Lins
It is pratically only suitable for long term traders.
Gary
I did like this book for the one fact that the Curtis Faith is the most celebrated "Turtle" from curious bet by legendary traders Richard Dennis and William Eckhardt. I enjoyed the truth that Curtis reveals, however, the book does bog down in some number crunching that may displease average readers. With that in mind I issued a 4 of 5 stars and recommend this reading for only those who want to dig deeper into trading. As I appreciated this book, I believe only the students of trading would enjoy...more
Maciej Janiec
Don't expect to find here any read-to-use trading rules. Or maybe I've missed something :)

Nevertheless it is quite a nice read, and it contains a number of interesting observations about financial markets and trading.

Probably the most important observation is that trader should not try to predict the market direction for it is simply not possible.

The key to trading is to be systematic, and use the thoroughly tested system, even if it occasionally generates loses. As long as you are convinced it...more
Dave Applegate
- Good job explaining how focused learning approaches, analytical thinking and avoiding biases can lead to trading success.
- I found the biases especially interesting when applying to other aspects of my life.
- You'll be disappointed if you're looking for the nuts and blots of how to make money trading. It focus more on the correct approach.
Mimi Somsanith
Jul 15, 2008 Mimi Somsanith rated it 3 of 5 stars  ·  review of another edition
Recommends it for: Millionaire day traders or those who would enjoy a trader's journey of ups, downs, and sideways.
Recommended to Mimi by: retired baby boomer
Shelves: networking-shelf
I enjoyed the story and how it compelled me to think on a personal level. When reading most books on stock market investing, readers may feel as though they're being lectured. This book may have lessons to learn from yet it translates in a way (Turtle Way) that the author is sharing his experiences as a former Turtle day trader. Some notable lessons include market patterns, managing risks, trader biases and logging your studies.

As I approach the end of the book, I was disappointed to discover th...more
Malin Friess
MFE's, MAE'e, Future Options, E-50 Ratio, Volatility Chanels, MAR Ration, Optimization Paradox, Donchian Trends, Duel Moving Averages????

I like to think of myself as a decently smart, welleducated person. This book and I did not become friends. I guess I'll stick with Vanilla (low cost, passive, index funds).
Mike
Apr 22, 2009 Mike rated it 5 of 5 stars  ·  review of another edition
Recommends it for: Investors
Very interesting topic and book.

Even if you never have a single moment of wanting to be a commodities trader, the book presents ideas that should be known to any investor. There are other books that cover similar topics and some perhaps emphasize the mindset that I think is important better than this one.

After reading this and other books on the topic, I understand the criticisms that have been leveled against both the book and author. All I can say is that it is an engaging story, written from...more
Nilesh
it is good for trader
Xavier
Great book really does a great job discussing trading and strategies. Highlights the importance of a good trading system an following rules.


The bonus chapter is really the meet of the trade system, and almost a copy of the PDF Curtis wrote some time back. Honestly the best part off the ground book. I wish more authors do this. Many authors feel that a good book should be x, pages to get people to buy them. The result is a lot of fluf forcing the reader look for he diamonds in the ruff.
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Trading from Your Gut: How to Use Right Brain Instinct & Left Brain Smarts to Become a Master Trader Inside the Mind of the Turtles: How the World's Best Traders Master Risk Train Your Gut Like a Master Trader Trading from the Gut Requires a Careful Balancing Act Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders : The Secret Methods that Turned Ordinary People into Legendary Traders

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