Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders by Curtis M. Faith is a captivating exploration of how 23 ordinary people were transformed into extraordinary traders, collectively known as the ‘Turtles.’ This book is an indispensable resource for anyone interested in understanding the mental mechanics and strategic methodologies of successful trading.
Faith, who was the most successful of the original Turtles, recounts the incredible experiment conducted by famed commodities trader Richard Dennis and his partner William Eckhardt in the 1980s. In a bid to settle their ongoing debate about whether trading talent was innate or could be taught, they selected a diverse group of individuals with little to no trading experience and taught them their proprietary trading system.
Over the course of the book, Faith delves into the core principles, strategies, and disciplined approach that underpinned the Turtles’ remarkable success. He details the Turtle’s unique trend-following system, explaining how they capitalized on market trends to secure profitable trades. He elucidates on the crucial role of risk management, discussing how the Turtles employed strict risk control measures to protect their capital and maximize their returns.
However, “Way of the Turtle” goes beyond presenting a trading system. It emphasizes the importance of a trader’s mindset, illustrating the psychological and emotional challenges traders face. Faith shares how the Turtles had to grapple with self-doubt, fear, and overconfidence, highlighting the mental fortitude required to stick to a trading system in the face of market volatility and personal insecurities.
The book is both educational and inspirational, making complex trading concepts accessible to traders of all levels. Whether you are a novice trader looking to enter the markets or a seasoned trader seeking to refine your strategies, “Way of the Turtle” provides invaluable insights into the art and science of trading, equipping you with the knowledge and discipline to navigate the unpredictable world of trading successfully.
