
Just finished reading "The Complete TurtleTrader" by Michael W. Covel. It's not crap, which is the highest (and only*) rating you can earn from IVWT.
For people (like me) who have developed trading systems, it's a very informative book into how to develop a successful trading system. Although much of the focus is on Turtles, its guidelines could be applied to any serious wanna-be trader.
Although I don't agree with some of the specifics of the "Turtle Rules" (such as its lack of assigning a premium to intrinsic/fundamental value**), the rules on momentum trading and risk management are worth ripping off or customizing for your trading system.
In addition, the book tells a good story about the successes and failures of those involved with the Turtles, which makes for an entertaining and quick read as well.
*Obviously, if it was crap, IVWT wouldn't review it...
**If anyone's interested, I'll list what I believe are the shortfalls of the original Turtle Rules in a future posting. Just let me know in the comments if you'd like me to do so.
No comments:
Post a Comment