The Turtle Experiment by Richard Dennis

"Winning traders may be made, not born"

The Experiment

In 1983, Richard Dennis and William Eckhardt started the “Turtle Experiment” to prove that anybody could be taught how to trade successfully. After placing an ad in The Wall Street Journal, thousands of novice traders applied but only 14 would make it through the first "Turtle" program. The program proved very successful. By the end of the experiment, the novice traders had generated tens of millions of dollars.

The Turtles used a trend-following system focusing on entry and exit rules, position sizing based on market volatility, and risk management.

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Forex Trading and Pivot Points

TRADING WITH PIVOTS & PETER BAIN'S METHODS

The trading coach Peter Bain has created a Forex trading method based mainly on pivot points. In this article, we are going to investigate his general trading approach.

Highlights of the Peter Bain’s Trading Methods

1. Calculate the Pivots Points based on the past 24 hours and the past 7 days (The average daily range has to be fulfilled before the session is over)
2. Seek for price breakouts (trendlines/channels)
3. Confirm with MACD divergences
4. Identify chart and candlestick formations (double tops/bottoms, hammers, spinning tops, railway tracks, etc.)
5. Focus on four charts (Daily, Hourly, 15-minutes and 5-minutes)
6. Avoid trading during news releases as in this case, technical analysis becomes weak

   Details

   Category: Trading Tools

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Heikin-Ashi Trading Strategy

Heikin-Ashi Forex Trading Strategy (Based on Joseph Nameth)

The following trading strategy aims to follow strong trends in the Foreign Exchange market. It is based on the daily Heikin-Ashi chart for identifying and confirming the trend, while the trigger is based on a Range/Renko chart. This strategy was originally presented by Joseph Nameth as a multi-timeframe trading strategy, however, for educational purposes, we are only using the Daily chart to make things easier.

Implementing the Trading Strategy in 3 Steps

Highlights

1. Determining a strong trend on a daily (D1) Heikin-Ashi chart (alternatively a 4-hour chart)
2. Confirming the trend with the EMA(20)
3. Using a trigger based on a Renko/Range chart

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Trading Advice from Linda Bradford Raschke

Linda's Trading Strategies

Linda Bradford Raschke began her professional trading career in 1981. She has been the principal trader for several hedge funds and started her hedge fund in 2002. Linda’s hedge fund was ranked 17th out of 4500 for best 5-year performance by BarclaysHedge. Linda retired as a CPO and CTA in 2015, however, she continues to trade daily for her account. Linda became a world-known trader through a dedicated chapter in Schwager’s book “The New Market Wizards”.

A Few Words about Linda's Trading Style

According to Linda, successful trading needs a good chart pattern, a sound research process, solid position sizing, and a good market read. Linda is not a 100% mechanical trader, however, she tries to systematize her processes as much as possible. She also mentions that if you do use a system it has to be your system.

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