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The Turtle Shelf

In the 1980s Richard Dennis bet that traders could be taught. The Turtles got a breakout system and sizing rules, and made millions. Faith tells it from inside, Covel tells the whole story, and Eckhardt argues the other side in Schwager.

1

Way of the Turtle

Curtis Faith · 2007 · Level: intermediate

The original Turtle experiment told by a Turtle: the rules were simple, and the hard part was following them through drawdowns.

For prop traders: Proof that a written system plus sizing discipline beats improvisation, told by someone who lived it.

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2

The Complete TurtleTrader

Michael W. Covel · 2007 · Level: all levels

The full Turtle story: how Dennis and Eckhardt recruited novices, taught them a breakout system, and what happened to each of them.

For prop traders: Also a study in what happens to traders after the system stops working for a while.

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3

Trend Following

Michael W. Covel · 2004 · Level: intermediate

The case for trend following as practiced by the big CTA funds: cut losses, ride trends, diversify, and never predict.

For prop traders: Useful perspective for breakout traders who wonder whether the style has a real pedigree. It does.

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4

The New Market Wizards

Jack D. Schwager · 1992 · Level: all levels

The second volume: more top traders, including Bill Eckhardt of Turtle fame, on systems, discipline, and losing streaks.

For prop traders: Eckhardt's chapters alone are worth it for anyone trading rules under a drawdown limit.

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