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Robert Badgley blustered:
> The entry and exit on the turtle system is only about 30% of the system
most
> of the money is made with money management.
Yup.
> L. Williams needs to more
> throughly investagate before writing about something he does not
understand.
Oh, come on. I've seen the basics of Turtle money management in public
literature, and I have never even gone looking for it. If memory serves,
Van Tharp presents one of the key features in his book, though I'm not sure
he identified it as such. And, of course, there is Russell Sands, but he
reportedly was dropped from the program before learning the fine points
of money management and trade tactics. With all the information that
has come out about the Turtles system, it would amaze me if Williams
didn't understand the critical aspects of it. Nothing in this thread
indicates
that he did not, other than that his results displease you.
Incidentally, how did you get to be an expert on Turtles-style money
management?
> It is working and always will work if used with Turtles money management.
Ah, so that explains why Dennis blew out so badly in the early '90s.
In my ignorance, I'd imagined it was because the system ran into a period
when it did not work. Like every other system I've ever heard of.
> Thats like taking an engine out of a car and saying the car does not run
of
> course not you need the whole car including the engine.
It would be, if that's what Williams had done. Again, nothing in the
message you are responding to addresses this issue. For all we know,
he may have done it exactly as Dennis prescribed.
Maybe it's worth noting that I've never seen a money management
technique that turns a loss into a win. Some that would keep you out
of the market when you were likely to have a loss; I'd call that
trading tactics, but if you wish to view it as money management,
I won't argue the point. Most discussions of the Turtle technique
do seem to prefer that term, now that I think about it.
Robert, I don't usually take people to task this way, and I apologize
for giving in to the impulse in your case. However, your response to
Brian is seriously dogmatic and combative, especially given that you
provide no evidence at all to support your position. Larry Williams
is one of those figures in this industry who inspire strong feelings, often
negative, and you leave me wondering whether your message was
motivated more by animus than by knowledge.
If you have evidence to support the continued success of Turtle Trading,
including the money management procedures, I'd love to hear it. My
strong impression, based on interviews and suchlike, has been that the
original Turtles who are still trading have altered the technique to suit
today's market conditions or have gone on to other methods entirely.
Owen Davies
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