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Swiped from the site:
"Possible Turtle Soup Plus One Buy Setups
Trading breakouts of 20-day high or low prices is one of the most popular
trend-following methods used by commodity trading advisors. This technique
was created by Richard Donchian but made famous by a successful trading
group led by Richard Dennis known as the "Turtles." Over long time periods,
the 20-day breakout strategy tends to be profitable, but it also is subject
to large drawdowns and repeated false breakouts.
The Turtle Soup Plus One method is designed specifically to take advantage
of these false moves. For a buy set-up, a market must close at a new 20-day
low and its previous 20-day low must have been more than four days ago. If
the next day the market trades above the previous day's low, it is
considered a false breakout and a buy signal is triggered. (For sells,
reverse the rules.)
These are the futures that have made new 20-day lows for the day and
qualify as Turtle Soup Plus One buy set-ups if they reverse. More
information on trading the strategy can be found in the book "Street
Smarts" by Larry Connors and Linda Raschke.
Reminder: We are in no way recommending the purchase or short sale of these
futures markets. Trading should be based on your own understanding of
market conditions, price patterns and risk; our information is designed to
contribute to your understanding. Controlling risk through the use of
protective stops is critical. "
Steve Karnish
CCT
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