Way of The Turtle Review
Way of The Turtle rated as one of the best trading books in the market. It is written by Curtis M.Faith. He was lucky enough to be one of the participant in the Turtle. Turtle is a program held by Richard Dennis (one of the world famous commodities trader) and William Eckhardt. They wish to know whether trader is made or born. So the author and other participant is the guinea pig in their experiment whether trader is made or born.
I like this book because it include basic of trading, psychology of trader, how to trade successfully, risk management and life.
Basic of trading – Although it do not guide you trading from A to Z but it is enough for you to know what is a trader. This include some general terms in the trading such as bid, ask, spread, liquidity, risk and etc.
Psychology of trader – This is my favorite part in this book. Curtis bring you travelling through trader mind. He explain why trader behave in a such way. Totally 8 behavior that has been discuss by him. If you are a trader, you need to read it.
How To Trade – This is another splendid part of the book. Curtis teach you to trade with an edge and how to trade consistently. In this part, he also teach us to think like a Turtle.
Risk Management – Risk is what trader most afraid of and they need to manage their risk carefully. There are several types of ways to manage your trade or more exactly is managing the risk. Trader need to cut loss when necessary.
Life – While reading his book, I think how well you manage your trade and risk is the same as how you manage your life. If you can overcome your obstacles in trading, definitely you can do so in life.
In investment point of view, for traders, they tend to sit on cold hard chair and face the computer screen all day long for trading opportunity. At the end of the day, you leave no time for life enjoyment but computer monitor. It is really sad.
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Mrcoolku Reply:
May 9th, 2010 at 4:48 pm
Trader usually like risk. They enjoy watching the screen with green and red.
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