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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
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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

3.7  ·  Rating details ·  1,265 Ratings  ·  55 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
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ebook, 240 pages
Published March 30th 2007 by McGraw-Hill Education (first published March 9th 2007)
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Austin
Sep 05, 2009 rated it really liked it  ·  review of another edition
Shelves: finance, non-fiction
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
gekko100
May 30, 2010 rated it it was ok  ·  review of another edition
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.
Albert
Jun 01, 2008 rated it liked it  ·  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
Aug 02, 2011 rated it really liked it  ·  review of another edition
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.
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.
Jose
Nov 13, 2011 rated it really liked it  ·  review of another edition
It is a good book that is meant to humble anyone who can "beat the market".
Bowei Chi
Mar 19, 2008 rated it really liked it  ·  review of another edition
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
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Zbyszek Sokolowski
Sep 15, 2012 rated it really liked it
Shelves: financial
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.
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
Jul 01, 2013 rated it really liked it  ·  review of another edition
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.
Ben
Aug 25, 2007 rated it really liked it  ·  review of another edition
Will definitley give you a good perspective on all those 'genius' traders out there. Not far off from Trading Places.
Mike
Jun 25, 2013 rated it really liked it  ·  review of another edition
For someone beginning a trading career, this is an inspiration.
Mike
Dec 26, 2008 rated it really liked it  ·  review of another edition
On page 179 so far. Wish there were more examples, real life examples, from Curtis' experience as a Turtle.
Diego Lins
It is pratically only suitable for long term traders.
David Donhoff
Apr 04, 2013 rated it it was amazing  ·  review of another edition
Shelves: business
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.
Anonymole
Apr 07, 2010 rated it it was amazing  ·  review of another edition
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 ---
John Boettcher
Jul 31, 2013 rated it did not like it  ·  review of another edition
Never really lets you in on the secret of what the Way of the Turtle really was. A letdown.
Hesham
Sep 26, 2013 rated it it was amazing  ·  review of another edition
this is the book that made me stop trading.. I knew I am not cut for it...
Glen Fullmer
Dec 29, 2008 rated it really liked it  ·  review of another edition
Great for understanding trend following investing.
David
Jun 17, 2017 rated it really liked it  ·  review of another edition
Shelves: investments
Don't expect any magic secret from this one about the Turtles, except for one. Follow the rules and do not deviant from them. It is a story about trend following being taught to a small group and their trading afterward. It is more of a head game than a trading story. Good stuff contained within the pages for trading, not so much what or the set-up's to trade, but how to keep your head in the trade. Worthwhile read for that alone. As to the life of the author, that is a different story as to why ...more
Roberto Simoni
Aug 04, 2017 rated it really liked it  ·  review of another edition
It starts very well, but ends in a really annoying way. Someone says Faith was not the best turtle... but it seems all those articles have been written by Covel (author of all the other books on turtles).
Anyway a book to read.
I read about the death of Faith occured in the beginning of 2017... a very sad fate...
Red
Jul 25, 2017 rated it it was ok  ·  review of another edition
Great quotes, but doesn't go deep into methods. You'd get more by reading pages about Jesse Livermore.
Billy Williams
Aug 26, 2016 rated it it was amazing  ·  review of another edition
Seriously, one of the top 5 books on professional money management that I have ever read. This is truly a classic, a real gem on the subject. The book gives details on one of the greatest trading experiments ever conducted which was later spun off into a Hollywood movie, "Trading Places", with Dan Akroyd and Eddie Murphy in the early 1980s. Faith was one of several random people selected and taught by one of the greatest hedge fund managers ever, Richard Dennis. Dennis took $2,000 in the 1970s a ...more
Mimi Somsanith
Jul 15, 2008 rated it liked it  ·  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
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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
erjan avid reader
I m actually dissapointed with this book. So many recommended it, it is in all "must read trading books" lists.

Half of the book it proves to us with various math stats that future can't be predicted, it illustrates the dangers and fallacies of curve fitting and excessive optimization.

The last part describes the actual system. Of course the market has changed and the system is probably not applicable.

I already know that stats and backtesting can only help us so much. Good traders dont rely on Sh
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Hal
Jan 29, 2014 rated it liked it  ·  review of another edition
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
Gary
Feb 05, 2014 rated it really liked it  ·  review of another edition
Shelves: finance
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
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