The Complete TurtleTrader by Michael Covel
Most successful traders use a mechanical trading system. This is no coincidence. A good mechanical trading system automates the entire process of trading.
The system provides answers for each of the decisions a trader must make while trading. The system makes it easier for a trader to trade consistently because there are a set of rules which specifically define what should be done. The mechanics of trading is not left up to the judgment of the trader.
If you know that your system makes money over the long run it is easier to take the signals and trade according to the system during periods of losses. If you are relying on your own judgment during trading you may find that you are fearful just when you should be bold and courageous when you should be cautious.
If you have a mechanical trading system that works, and you follow it rigorously your trading will be consistent despite the inner emotional struggles that might come from a long series of losses, or a large profit.
The confidence, consistency, and discipline that a thoroughly tested mechanical system affords is the key to many of the most profitable traders’ success.
The Turtle Trading System was a Complete Trading System. Its rules covered every aspect of trading leaving no decisions to the subjective whims of the trader. It had every component of a Complete Trading System.
For more information on the turtle rules or the turtle story, please visit www.turtletrader.com.
For more information on Trading Blox, the only software that can backtest and trade the Turtle Rules, please visit www.tradingblox.com.
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