rubend18

Scalping Turtles

The Turtle Experiment

By the early 1980s, Dennis was widely recognized in the trading world as an overwhelming success. He had turned an initial stake of less than $5,000 into more than $100 million. He and his partner, Eckhardt, had frequent discussions about their success. Dennis believed anyone could be taught to trade the futures markets, while Eckhardt countered that Dennis had a special gift that allowed him to profit from trading.

The experiment was set up by Dennis to finally settle this debate. Dennis would find a group of people to teach his rules to, and then have them trade with real money. Dennis believed so strongly in his ideas that he would actually give the traders his own money to trade. The training would last for two weeks and could be repeated over and over. He called his students "turtles" after recalling turtle farms he had visited in Singapore and deciding that he could grow traders as quickly and efficiently as farm-grown turtles.

Finding the Turtles

To settle the bet, Dennis placed an ad in The Wall Street Journal and thousands applied to learn trading at the feet of widely acknowledged masters in the world of commodity trading. Only 14 traders would be make it through the first "Turtle" program. No one knows the exact criteria Dennis used, but the process included a series of true-or-false questions; a few of which you can find below:

1. The big money in trading is made when one can get long at lows after a big downtrend.
2. It is not helpful to watch every quote in the markets one trades.
3. Others' opinions of the market are good to follow.
4. If one has $10,000 to risk, one ought to risk $2,500 on every trade.
5. On initiation one should know precisely where to liquidate if a loss occurs.

For the record, according to the Turtle method, 1 and 3 are false; 2, 4, and 5 are true.

Turtles were taught very specifically how to implement a trend-following strategy. The idea is that the "trend is your friend," so you should buy futures breaking out to the upside of trading ranges and sell short downside breakouts. In practice, this means, for example, buying new four-week highs as an entry signal.

  • Look at prices rather than relying on information from television or newspaper commentators to make your trading decisions.
  • Have some flexibility in setting the parameters for your buy and sell signals. Test different parameters for different markets to find out what works best from your personal perspective.
  • Plan your exit as you plan your entry. Know when you will take profits and when you will cut losses.
  • Use the average true range to calculate volatility and use this to vary your position size. Take larger positions in less volatile markets and lessen your exposure to the most volatile markets.
  • Don't ever risk more than 2% of your account on a single trade.
  • If you want to make big returns, you need to get comfortable with large drawdowns.

Dec 02
Notas de prensa: The Turtle Experiment

By the early 1980s, Dennis was widely recognized in the trading world as an overwhelming success. He had turned an initial stake of less than $5,000 into more than $100 million. He and his partner, Eckhardt, had frequent discussions about their success. Dennis believed anyone could be taught to trade the futures markets, while Eckhardt countered that Dennis had a special gift that allowed him to profit from trading.

The experiment was set up by Dennis to finally settle this debate. Dennis would find a group of people to teach his rules to, and then have them trade with real money. Dennis believed so strongly in his ideas that he would actually give the traders his own money to trade. The training would last for two weeks and could be repeated over and over. He called his students "turtles" after recalling turtle farms he had visited in Singapore and deciding that he could grow traders as quickly and efficiently as farm-grown turtles.

Finding the Turtles

To settle the bet, Dennis placed an ad in The Wall Street Journal and thousands applied to learn trading at the feet of widely acknowledged masters in the world of commodity trading. Only 14 traders would be make it through the first "Turtle" program. No one knows the exact criteria Dennis used, but the process included a series of true-or-false questions; a few of which you can find below:

1. The big money in trading is made when one can get long at lows after a big downtrend.
2. It is not helpful to watch every quote in the markets one trades.
3. Others' opinions of the market are good to follow.
4. If one has $10,000 to risk, one ought to risk $2,500 on every trade.
5. On initiation one should know precisely where to liquidate if a loss occurs.

For the record, according to the Turtle method, 1 and 3 are false; 2, 4, and 5 are true.

Turtles were taught very specifically how to implement a trend-following strategy. The idea is that the "trend is your friend," so you should buy futures breaking out to the upside of trading ranges and sell short downside breakouts. In practice, this means, for example, buying new four-week highs as an entry signal.

  • Look at prices rather than relying on information from television or newspaper commentators to make your trading decisions.
  • Have some flexibility in setting the parameters for your buy and sell signals. Test different parameters for different markets to find out what works best from your personal perspective.
  • Plan your exit as you plan your entry. Know when you will take profits and when you will cut losses.
  • Use the average true range to calculate volatility and use this to vary your position size. Take larger positions in less volatile markets and lessen your exposure to the most volatile markets.
  • Don't ever risk more than 2% of your account on a single trade.
  • If you want to make big returns, you need to get comfortable with large drawdowns.
Dec 17
Notas de prensa: Scalping Turtles
Welcome to version 3.0

Improvement in the color of the channel background
Improvement in the Stop Loss indicator with ATR
Improvement in price tracking
SuperTrend prediction
Barcolor and Background removed
Dec 29
Notas de prensa: Welcome to version 4.0

Stop Loss with Parabolic SAR
Alerts: VIP Buy Signal, VIP Sell Signal (Very useful with TradingView PRO)
Plot Shape: Buy & Sell with triangles at the price breaking point
Jan 03
Notas de prensa: V4.1
Improve alert conditions
Include Close Position when breaking price in 10 periods
Jan 08
Notas de prensa: Version 4.2
  • Debugged and improved source code
  • Includes link to read the method
Jan 10
Notas de prensa: Version 4.3
  • 55 period trend added
  • Choose ATR factor (14) removed
  • Appearance, indentation and improved source code comments
Jan 19
Notas de prensa: *
Version 4.4
  • Select system 1 or system 2 added
  • Parameter entry option 20, 10 removed
Jan 29
Notas de prensa: *
Version 4.5
  • Improved trend calculation algorithm
  • Line basis is eliminated because it is unnecessary
Mar 25
Notas de prensa: *
Version 4.6
  • Migrate source code to //version=3
  • Add text to select System 1 or 2
  • Delete source code of purchase
  • Remove Stop Loss with Parabolic SAR
May 05
Notas de prensa: *
Version 4.7
  • Remove triangles and text of plotshape
  • Add link to the original turtle trading rules in English
  • Improve source code in general
  • Improve alertcondition messages
Jun 25
Notas de prensa: *
Version 4.8
  • Background color added
  • Candle color added
  • Password added
Nov 26
Notas de prensa: Improved algorithm
Eliminar de Scripts favoritos. Añadir a Scripts favoritos.
Hi Ruben,

Can I please have access to test this?

Thank you very much!
Responder
Hi can you share this code? thanks
Responder
rubend18 dpanday
@dpanday, nop haha
Responder
a cuanto lo vendes al codigo?
+1 Responder
@V0M, 50$
Responder
Dónde lo descargo?
+1 Responder
hi I love your script may I have access to the previous version, please >>>>>>>> :)
+8 Responder
rubend18 Sabir_dk
@Sabir_dk, I don’t have old versions. What do you need to see?
Responder
Inicio Analizador de acciones Analizador de Forex Crypto Screener Calendario económico Shows Cómo funciona Funcionalidades del gráfico Precios Normas Moderadores Soluciones broker y sitio web Widgets Soluciones gráficas Biblioteca de gráficos ligeros Centro de ayuda Recomendar a un amigo Solicitud de funcionalidad Blog y Noticias Preguntas frecuentes Wiki Twitter
Perfil Opciones de configuración del perfil Cuenta y facturación Recomendar a un amigo Mis Tickets de Soporte Centro de ayuda Ideas publicadas Seguidores Siguiendo Mensajes privados Chat Cerrar sesión