Question about Turtle Trading -

[shazam75]

Hi All
I am little confused about what happens during a roll over to next month scenario.
Just say I went short Crude Oil at $90
N was $2 so 2N (STOP LOSS) would be $4 or $94.00
I am trading with the 55 Day Low Entry and 20 Day High Exit (Take Profit)
After 20 (working) Days have passed, CL is now at $80 and the high of the preceding 20 days is say $88 so the STOP LOSS is now a Take Profit at $78.00

The position is about to expiry so I need to roll to a new (next) month contract. Lets just say the price is the same when I roll over from the previous month (no contango or backwardation). The question is :

A. Is this rolled over position a new position with a STOP LOSS of 2N (N is now $1.5 so 2N = $3 =$83) OR

B. The exit of this position is still the 20 day high (at $88)

Kind Regards
Shelton

 

[bashatrader]

Is "turtle trading" so widespread and known that an introduction is not required?

 

[shazam75]

I thought it was - apparently it's not then.

Cheers
Shelton

 

[ScottColeFTA]

Shelton, after your rollover, you would use the 20 day trailing stop, not the 2N stop. I know all about the system, so feel free to ask me any other questions you may have.

Scott

 

[CDNpatriot1]

Scott does the Turtle System still work for you?

 

[ScottColeFTA]

Scott does the Turtle System still work for you?

I don't trade it, but I know it well. It's a tough system to trade for anyone. I've tested it quite thoroughly, and its performance since 2008 has been brutal. The Turtles themselves have had a rough time over the last five years. 2014 has been their best year since 2008, but several had three year losing streaks during that period.

If you want to be a trend follower, you need a pretty sizable account, and you need to trade multiple strategies. That's just the reality.

 

[Sergio77]

Turtles vs. HFT hahhahahahaha Merry Christmas,

 

[blakpacman]

Is "turtle trading" so widespread and known that an introduction is not required?

I thought most traders would have read the first Market Wizards.

 

[ScottColeFTA]

I thought most traders would have read the first Market Wizards.

Great place to start looking for ideas in my view..."New Market Wizards" as well. Both are old, and times have changed, but still pretty relevant.

 

[shazam75]

Shelton, after your rollover, you would use the 20 day trailing stop, not the 2N stop. I know all about the system, so feel free to ask me any other questions you may have.

Scott

Thanks Scott - just what I thought.

Cheers
Shelton