You may not know but the second largest CTA in the world is a Turtle

atima

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Jerry Parker, founded Chesapeake Capital Corporatio, the second largest CTA!

A TUTTI GLI INTERESSATI: A quickk explanation fo the Turtle System

buona lettura.
atima


Jerry Parker founded Chesapeake Capital Corporation, a global investment manager headquartered in Richmond, Virginia, in 1988. Chesapeake provides investment and portfolio management services to both private and institutional investors worldwide. Mr. Parker began his portfolio management career in 1983 when he was accepted into the Turtle Program, a select investment training program developed by a successful Chicago portfolio manager. When the program ended in 1988, after almost five years of trading proprietary capital, Mr. Parker decided to continue his professional money management career by forming Chesapeake. Chesapeake’s specialized investment approach offers investors the potential to participate in, and profit from, price trends not typically available through traditional portfolio strategies. Chesapeake’s investment portfolios are not biased toward long or short positions and, therefore, can profit in both rising and falling market environments. Chesapeake actively monitors, and has the potential to invest in, over 90 markets worldwide. These can range from tangible assets, such as coffee, crude oil and gold to global financial instruments, such as German government bonds, U.S. stock indices and global currencies.



Or to the private trader who brought $500,000 account
up to $1.7 million last year after learning the Turtles


A quickk explanation fo the Turtle System is as follows:
>
> It was thought that traders were like turtles, they will all do the same
> thing in unison. Put them on the beach and the crawl to the ocean.
>
> Apparently, if you buy at the highest closing price of the last X number
of
> days (say 48), and sell at the lowest close, and exit at the lowest close
of
> the last 24 days, you will absolutely make money but you must be in a
lot of
> markets.
>
> You will loose most of the time but your wins are big. It is said to be
35%
> effective.
>
> It is not worth $2500.

This is a strange conclusion. Tell that to the Turtles who are now
multi-millionaires from managing other peoples money and making consistent
returns in the long run. You may not know but the second largest CTA in the
world is a Turtle. Or to the private trader who brought $500,000 account
up to $1.7 million last year after learning the Turtles. They think it is
worth a lot more than .

Please understand that the Turtles method is not for the faint hearted or
under capitalised and requires work. These are qualities only a few people
have. I have heard that Russell Sands will be in Kuala Lumpur to teach the
Turtles to a major bank there in early October. I guess to be a Turtle it
helps if you are bigger than most in more ways than one. Look at Richard
Dennis's Market Wizards interview- he is larger than life.



Imagine a technically-driven futures trading system with a big reputation where traders are told to expect up to 70 per cent of their decisions to be wrong. At the same time, an extremely basic system where the principal consideration is changes in price and the main aim and challenge is to identify a clear price trend - up or down - and then stick with it in a disciplined way.

The system is the quaintly named Turtle method, a technique that attracted a better than fair share of US media attention during the late 1980s and early 1990s as a whiz bang way of training successful commodity traders. Turtle trading and its founders get three chapters in the best-selling Market Wizards financial books.

The Turtle system, claims Russell Sands - one of the original Turtles, is a very straightforward way of trading futures and currencies. While it can be used to trade shares, it works better on securities that are more likely to exhibit trend-like behavior.

One of the important features of Turtle is it makes no attempt to anticipate markets. "When we go with a trend, we have absolutely no idea how long it will last or how far it will go," says Sands, a protégé of the system's creators, countrymen Richard Dennis and William Eckhardt. Turtle traders start with the basic assumption that markets follow trends. The principal requirement before there is any trading action is that the trend must be firmly in place.

If prices go up for 20 days in a row, for instance, that signals the start of an up trend. The end of the up trend comes when prices reverse for 10 days in a row.

The big thing about the method, says Sands, is that Turtle traders - if they play the game properly - never enter a market too early and never pick the bottom. Prices have to rise for a reasonable period and build up some momentum before any action is justified. Equally, they must clearly show they are on the way down before a position is closed out.

But once a position is taken, it stays in place until the criteria are met for a trend reversal. It therefore takes a certain amount of opposite price movement before a trader quits a position.

The same rules apply for short positions. Sands says he took a sold position in August gold futures about three weeks ago after the price had retreated for the requisite number of days. The gold price when he acted was $US395 an ounce and he expects to stay with the downtrend until the market rallies for, say, 10 days in a row or he is stopped out by sharp movements.

Turtle trading also incorporates price-related stop losses as part of the overall money management strategy.

These rules relate activity to a trader's resources and strive to discourage overtrading. There are other guides that suggest how profitable positions can be enhanced by expanding a position using unrealized profits.

The biggest trap for futures traders, says Sands, is overtrading. An important part of the Turtle method is putting this into context in terms of market psychology and trading behavior and defining the probabilities of overall ruin due to over-exposure.

The Turtle system argues that if traders wish to stay in the game for the long haul they should try to risk no more than 2 per cent of their total funds at any one time. This means having enough in the way of financial resources to make worthwhile trades but also stay in the game. "Running a $20,000 trading account and then trading five or 10 gold contracts on this is suicidal behavior," says Sands. His personal method is to trade one contract for every $30,000 of capital. Although markets can be traded with less capital, it increases the risk of being wiped out.

An extreme example is a gold trader with a $5,000 account. With such a small amount, setting a stop loss at 2 per cent of account size is obviously uneconomical as it represents scope for just a $1 price move.

If the gold price is given $5 to move, the money at risk in a 100-ounce contract is $500, or 10 per cent of total funds. But someone with $30,000 will be risking less than 2 per cent of their total funds. The same small trader will, of course, make a more impressive profit if he wins. But then, however, trading becomes more of a function of courage rather than a discipline.

"Obviously the bigger risk you take when you trade, the bigger the reward if you're right. But equally, the smaller you trade, the less chance you will go bust," says Sands. The Turtle philosophy is to trade many times as small as possible in order to stay trading forever. This is important, says Sands, because 60 to 70 per cent of the time the identified trends fizzle out and traders wind up losing a small amount of money. The compensation comes when a solid trend is identified which rewards the trader handsomely. "Maybe 30 per cent of the time you are right and when I win with Turtle I can make between five to 10 times what I've previously lost," claims Sands.


selezionato per voi da:
stefano calamita
 
Ultima modifica:
...Turtle traders start with the basic assumption that markets follow trends...

NO RANDOM WALK?
haiaiiaiiiiiiiiii:)
(però questi signori hanno guadagnato soldi, e anche tanti!
Alla faccia degli accademici? ...Forse!!!!!)
:D:D:D


atima
 
Scritto da atima
...Turtle traders start with the basic assumption that markets follow trends...

NO RANDOM WALK?
haiaiiaiiiiiiiiii:)
(però questi signori hanno guadagnato soldi, e anche tanti!
Alla faccia degli accademici? ...Forse!!!!!)
:D:D:D


atima




Perchè, sei in possesso di dati certi sul guadagno degli accademici??

:confused: :confused: :confused:



Sig.E
 
grazie x l'up
:D

atima
 
E' buona norma presentasi con nome e cognome se non si ha niente da temere, quando si fanno richieste; ripeto è buona norma.
:D:D:D

La mamma ...mi ha insegnato a non parlare con gli sconosciuti recidivi!!!!!!!!
:D:D:D


stefano calamita
 
Scritto da Sig. Ernesto
Perchè, sei in possesso di dati certi sul guadagno degli accademici??

:confused: :confused: :confused:



Sig.E

Basta una controprova: se gli accademici sapessero guadagnare in Borsa non farebbero più gli accademici.

Chi sa fa.
Chi non sa fare insegna! :D

Charlie
 
Scritto da Piedi a Terra
Gia'.

E l'Atima, a quale delle due categorie sopra secondo te appartiene ?

Non so. Me lo dica lei......
Io so di non sapere. E perciò studio. E opero.....
 
;)

Anch'io

stefano
 
Ultima modifica:
bravo bravo...copia e incolla

Scritto da atima
...Turtle traders start with the basic assumption that markets follow trends...

NO RANDOM WALK?
haiaiiaiiiiiiiiii:)
(però questi signori hanno guadagnato soldi, e anche tanti!
Alla faccia degli accademici? ...Forse!!!!!)
:D:D:D


atima

Complimenti per il copia e incolla di tanti paroloni in inglese...non parlare di cose che non conosci...vai avanti con la psicologia del guadagno che non c'e'...comunque anche con la random walk si possono guadagnare tanti soldi...la random walk non esclude la presenza nei dati di una qualche struttura che si puo' sfruttare...

Atima vai dietro alla lavagna :eek: :eek: :eek:
 
Ultima modifica:
Re: bravo bravo...copia e incolla

Scritto da robick
Complimenti per il copia e incolla di tanti paroloni in inglese...non parlare di cose che non conosci...vai avanti con la psicologia del guadagno che non c'e'...comunque anche con la random walk si possono guadagnare tanti soldi...la random walk non esclude la presenza nei dati di una qualche struttura che si puo' sfruttare...

vai dietro alla lavagna :eek: :eek: :eek:

bubbles e similari

un saluto
 
in inglese si dice...

chi sa insegna, chi non sa...insegna comunque.:D :D :D :D

vedete un po' voi dove mettere Atima:eek: :eek: :eek:
 
x conide

Facile ...con il senno di poi;)
 
x robick

chi sa insegna, chi non sa...insegna comunque!

BRAVO! Hai ragione!

Contento?
:p:p:p
 
Caro piedi... a dispetto del mio nick sono un maschietto, e vista la tua presenza assidua nei miei 3d, ( io i tuoi non li leggo nemmeno salvo eccezioni, :p) sono convinto che tu di notte oramai ...pensi ...solo ad atima:D:D:D
Mi spiace essere diventato il tuo incubo, personalmente a me sarebbe piaciuto essere nei pensieri di qualcun'altra:):):) (il solo pensiero di essere nei tuoi sogni a dire il vero ...mi fa un po schifo:p)
Ma che vuoi farci così è la vita.
atima

p.s. - ho l'impressione che il tuo incubo notturno continuerà ancora per molto tempo:D:D:D


Ah, dimenticavo, non vorrei essere scortese: grazie per l'up
:D:D:D
 
Ma che gentile...:p

E per la sua gentilezza:), vorrei inviargliene una copia, ovviamente a mie spese: caro "anonimo segnalatore", mi segnala pubblicamente il suo nome e cognome comprensivo di indirizzo?
:D:D:D


stefano calamita
 
Ultima modifica:
x antonio

sto per rientrare su mediaset (6.35 buy: pos.size25%) stop 6.1334;)

ciao
 
leggerà sui giornali il mio nome presto, a riguardo di qualcosa ancor più importante della suddetta competizione:)
Non sia impaziente, sarà una notizia che sicuramente fara piacere al suo ...fegato, e ai suoi ...sogni notturni, sig.....
Come ha detto che si chiama?
:p:p:p
 
Ultima modifica:
Ah, dimenticavo mediolanum:

Buy a 4.44421 - pos.siz. 25%
stop a 4.0734

;)
 
Indietro