Michael Covel video SPEAKS OUT about the TURTLES

The funny part is the questions people ask Mike at the end of the video.

"can this be automated?" is one funny one.

These people are supposed to be professional investors hes speaking too. Clearly they aren't.
 
People have been trading breakouts and retracement strategies before and since the Turtles and some make money and some don't. There's so much more to it than simply the execution of the entry and exit. Personally I think their innovation around position sizing and scaling into winning trades was their real edge. Now using ATR to define sizing is not innovative, but scaling into positions is a real art and holding winners for as long as possible is almost impossible for most.
 
Quote from aidaweb01:

but scaling into positions is a real art and holding winners for as long as possible is almost impossible for most.
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I fix this problem by having as few winners as possible. Makes it alot easier! :D
 
Quote from aidaweb01:

People have been trading breakouts and retracement strategies before and since the Turtles and some make money and some don't. There's so much more to it than simply the execution of the entry and exit. Personally I think their innovation around position sizing and scaling into winning trades was their real edge. Now using ATR to define sizing is not innovative, but scaling into positions is a real art and holding winners for as long as possible is almost impossible for most.
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Excellent post.
 
Quote from sim03:

When Michael Covel - who is neither a Turtle nor a trader, but rather a book author, speaker, multiple website vendor and self-described "serial entrepreneur" - speaks out about the Turtles, I am all ears.
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Those that can, "do". Those that can't............eh...........teach.

Or, is it the distinction between walking the walk and talking the
talk?

Then again, it could be fishing versus cutting bait.

I don't know, I get sooooooooo confused.
 
his new book "the complete turtle trader" comes out in october.

im reading it now. its a great history lesson of the turtles and follows up on what happened to most of them. good reading.

surf
 
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