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Curtis Face. Turtles’ path. From dilettants to legendary traders.
This is the first book written by a legendary experiment participant in the trading space. It’s the first time for the details of that experiment to be published. What were the trading tips learned by experiment participants? What abilities were trained by Richard Dennis? You will know about what markets did Turtles trade on, what entry and exit tactics did they use, which trends did they follow, how did they calculate their risks, what limitations did they have to apply and why some of the Turtles failed while the others made millions.
It’s not about who’s right.
Successful traders think about the present and prefer not to think much about the future. When they win, they think that the victory confirms their rightness and they feel like heroes. When they lose, they feel disgusting. This is a wrong approach.
Turtles do not care who’s right. All they care about is making money. Turtles do not pretend that they’re able to foresee the future. While watching the markets they do not spread in comments like “THe gold market goes up”. They consider the future as incomprehensible in details but basically predictable. In other words, it’s impossible to know whether the market is going up or down and will the trend stop right now or in two months. The only thing you know is that trends exist and the movement direction is not going to change because of people’s emotions and bits of knowledge are unaltered.
It turns out that it’s much easier to make money when you’re wrong most of the time. If your deals lead to losses mainly, then it shows that you’re not trying to predict the future. And this is exactly the reason why you don’t worry about this particular deal anymore because you’re assuming to lose money on it. Although the loss expectations, you understand that the outcome of any single deal says nothing about your intellectual level. In simple words, you need to free yourself and your own thinking from prejudice concerning the results in order to win. Any particular deal’s outcome does not matter. If ten deals in a row cause losses, but you are still sticking to your plan, then you’re a good trader, just a bit unlucky right now.