Great Trading Book: "Way Of The Turtle"

Tuesday, October 13, 2009

This weekend I re-read the "Way Of The Turtle" while I was lying around the swimming pool. The "Way Of The Turtle" is a fantastic trading book from Curtis Faith, one of the original turtles. I read it last year but I really enjoyed this re-read. Perhaps because I am doing a lot of systematic, system generated trades these days.

Trading coach Van K. Tharp considered it one of the best five trading books ever written and I agree with him. This is a look at the legendary Richard Dennis`s Turtle Traders and his famous trading experience. Curtis Faith was the most sucessful member of this elite group and he describes the trading experience like a seasoned writer. Great trading book.

On other topic, I kept my short S&P Futures position from Thursday and I am almost 30 points in the money. My trading account made a new high for the year last Thursday and I will close this discretionary trading position in the next few sessions because I will focus again on my systematic trades. Opportunities like that, going short into the Employment Report, do not come often and as Stanley Druckenmiller once said, "trading is about capital preservation and home runs". This was a very leveraged trading position and a decent home run in my trading account. Its time to protect my equity, placing only some very risk limited systematic trades for the next few trading sessions.

Petroleum Oil Gas info Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage.


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