Tuesday, March 17, 2009

The Turtle Way

I'm 1/3 way through 'Way of the Turtles' by Curtis Faith, the best performing turtle of them all. It was quoted by Van Tharp that this book is one of the 5 best trading books ever written. This far in, i'm convinced he's right.

It's not a typical 'i can promise you riches with these magic formulas' type of book, but rather a very honest and detailed listing of his lessons since becoming a turtle back in 83.

The one line that spurred me to write this is his philosophy, which echoes the work of Mark Douglas in 'Trading in the Zone', is how he's committed to approaching each trade with the same level of commitment and expectation. There are many biases that afflict a traders mind; law of small numbers, recency bias, and others that result in us taking actions that divert us from the goal of being consistent with our plans and systems.

I'm guilty of negative feelings, that i can't deny. My duty now is to NOT let it get in the way of acting right.

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