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In a message dated 10/8/2003 7:41:24 PM Pacific Daylight Time, kelols@xxxxxxxxxxx writes:
They didn't tell you everything. You can't make as much trading
stocks using the same system and due to the lack of leverage found in
contracts you need way more breakouts to reduce risk and insure
success.
I trade commodities, which is what that system was used for. Most commodities, including financials, have annual cyclical patterns and breakouts is a way to capture some of them. (Moore Research charges an arm and a leg for a system that predicts the exact date of a move in commodities, long or short, based on historical information. You can pay their price, use a $50-100K account and take every trade and hopefully, gain an annual 20%. Breakouts can offer much better.) And no, that site doesn't have the final answer. But if you follow or read a lot about breakout systems, you will be able to glean good information on entry, and on stops from that site. They also tell you to get ahold of everything that you can, and read and learn from it.
Every trader is going to go through a lot of material, and probably a few assets, to end up with winning style or system.
In my opinion, that site offered a lot of great breakout information that just isn't available in other places.
Jay
Before you get too excited about the information on that site, you
need to do some more reading.
They didn't tell you everything. You can't make as much trading
stocks using the same system and due to the lack of leverage found in
contracts you need way more breakouts to reduce risk and insure
success.
Some of the original turtles did okay trading. Many of the ones that
came after the first group using the same system went broke. Why!
Because they were trading with their own money and not the house
money. History is a good teacher.
I've used Donchian formulas to write systems. Many of the most
successful commercial systems use Donchian as a basis.
I'm sorry to say that particular webstie is not the last work on the
turtle system.
Good Trading
JO
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