"The Slow Turtle"(Dennis VS Eckhardt) Famous Strategy | Forex Factory

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"The Slow Turtle"(Dennis VS Eckhardt) Famous Strategy

  • #1
  • First Post: Edited Nov 6, 2013 4:19am Oct 27, 2013 4:58pm | Edited Nov 6, 2013 4:19am


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  • #2
  • Oct 27, 2013 5:14pm Oct 27, 2013 5:14pm
So in other words, a basic 2 MAs cross ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Edited 7:50pm Oct 27, 2013 5:59pm | Edited 7:50pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting FerruFx
So in other words, a basic 2 MAs cross ...

.....

good eye to spot what's inside the nutshell ferru..........
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #4
  • Oct 27, 2013 6:12pm Oct 27, 2013 6:12pm
Quoting FerruFx
So in other words, a basic 2 MAs cross ...
Ya missed the most important part.

Quoting nino110265
Backtest( WIN 75%)
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #5
  • Oct 27, 2013 6:17pm Oct 27, 2013 6:17pm
Quoting Magix
{quote} Ya missed the most important part. {quote}
Win rate doesn't mean nothing in trading if not combined with RR.
MT4/MT5 EAs/Indicators/Alerts coder
  • #6
  • Oct 27, 2013 6:19pm Oct 27, 2013 6:19pm
Quoting FerruFx
{quote} Win rate doesn't mean nothing in trading if not combined with RR.

Especially if traded on the weekly.

I have seen traders hack themselves out of market trading trend on the daily without any sense of RR or Money Management...

Don't get me wrong here, I am a 20/50 EMA guy...but there is a little more than just the simplicity of a MA X.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #7
  • Oct 27, 2013 6:49pm Oct 27, 2013 6:49pm
There is good book about Turtles
The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires by Michael W. Covel
Amazon page
http://www.amazon.com/Complete-Turtl...t+Millionaires
  • #8
  • Oct 27, 2013 8:11pm Oct 27, 2013 8:11pm
Quoting Magix
... but there is a little more than just the simplicity of a MA X.
That was exactly my point. A basic MAs cross (any symbol, any TF) will never be profitable as is (the rules in the post #1) in the long term.
MT4/MT5 EAs/Indicators/Alerts coder
  • #9
  • Oct 27, 2013 8:15pm Oct 27, 2013 8:15pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting FerruFx
{quote} That was exactly my point. A basic MAs cross (any symbol, any TF) will never be profitable as is (the rules in the post #1) in the long term.
Don't get me wrong I respect the turtles story and technique but when you look

As the pic suggest their will have to be other filters during whip saw markets

but as with most MA systems it will bank huge home runs during trend time.....
Attached Image(s) (click to enlarge)
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One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #10
  • Oct 27, 2013 8:32pm Oct 27, 2013 8:32pm
Quoting Owl
{quote} Don't get me wrong I respect the turtles story and technique but when you look As the pic suggest their will have to be other filters during whip saw markets but as with most MA systems it will bank huge home runs during trend time..... {image} {image}

Illusions in the charts here, my friend.

Count the crosses on AUD/NZD. Take and draw a line where the cross happens to where the trade would open. How many of these would be completely lost trades based on any basic MM system and how many crosses almost indicate a pinnacle high or low on the chart.

Even on your GBP/CHF, the top long and bottom long, after you have made a few sheckles on your skorties, you have lost a pocket full on your longs.

These are the hindsight charts that get a lot of new traders hip high in trouble.

A MA cross alone is a system guaranteed to separate you from your money.

Using it to identify trends, sure.

Still needs a trigger and criteria based on confirmation, support/resistance and an idea of when to take profits and cut loss.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #11
  • Oct 27, 2013 9:08pm Oct 27, 2013 9:08pm
Quoting Magix
Illusions in the charts here ...
These are the hindsight charts that get a lot of new traders hip high in trouble. A MA cross alone is a system guaranteed to separate you from your money.
MT4/MT5 EAs/Indicators/Alerts coder
  • #12
  • Oct 27, 2013 9:10pm Oct 27, 2013 9:10pm
Quoting Owl
Don't get me wrong I respect the turtles story and technique but when you look As the pic suggest their will have to be other filters during whip saw markets but as with most MA systems it will bank huge home runs during trend time.....
Any indicator works great in trending market ...

When range comes, most of what you earned is gone if you stick with the same rules ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #13
  • Oct 27, 2013 9:16pm Oct 27, 2013 9:16pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting Magix
{quote} Illusions in the charts here, my friend..
Quoting FerruFx
{quote} Any indicator works great in trending market ... ...

I couldn't agree more.....
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #14
  • Oct 27, 2013 9:47pm Oct 27, 2013 9:47pm
Sorry everyone , i have miss take exit,
i edit it, now it is true system
  • #15
  • Oct 27, 2013 9:53pm Oct 27, 2013 9:53pm
Quoting nino110265
i edit it, now it is true system
A true system
MT4/MT5 EAs/Indicators/Alerts coder
  • #16
  • Oct 27, 2013 9:57pm Oct 27, 2013 9:57pm
Quoting FerruFx
{quote} A true system
yes,this is exactly system of slow turtle

if you dont belive me, i can show my proof
  • #17
  • Oct 27, 2013 10:34pm Oct 27, 2013 10:34pm
Quoting nino110265
if you dont belive me, i can show my proof
No proof needed. The important thing is that it works for you.
MT4/MT5 EAs/Indicators/Alerts coder
  • #18
  • Oct 28, 2013 12:20am Oct 28, 2013 12:20am
Nino: I recommend reading 'Way of the Turtle' by Curtis Faith. Curtis was the youngest, and also the most successful of the turtles. This book not only describes the methods used by the turtles, it goes into great detail about the money management and psychology needed to follow such a system, the mental barriers needed to overcome and the reasons some turtles succeeded while others failed (with exactly the same trading rules).

Just don't expect forex markets to behave the way commodity markets behaved in the 70's and 80's, that doesn't make sense.
si hoc legere scis nimium eruditionis habes
  • #19
  • Oct 28, 2013 12:57am Oct 28, 2013 12:57am
Quoting numbnuts
Nino: I recommend reading 'Way of the Turtle' by Curtis Faith. Curtis was the youngest, and also the most successful of the turtles. This book not only describes the methods used by the turtles, it goes into great detail about the money management and psychology needed to follow such a system, the mental barriers needed to overcome and the reasons some turtles succeeded while others failed (with exactly the same trading rules). Just don't expect forex markets to behave the way commodity markets behaved in the 70's and 80's, that doesn't make sense....
of cource i read way of the turtle long time ago and anther book: the complete turtle trader of Covel
this my strategy derecribe another book dont have " Way of the Turtle" and " The compete turtle trader"
but two books is useful for newbie Turtle
  • #20
  • Oct 29, 2013 9:16pm Oct 29, 2013 9:16pm
This system was set for assets like futures where trends are longer. Spot Fx is a beast.
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