The trading system worked when a significant event took place that would help drive the price in the direction of the breakout. The difference is that we want the breakout to fail when. The original turtle traders trend following system philosophy the turtle traders system is a trend following trading system developed in the 1970s. Explore the history of turtle soup, and then whip up a mock batch of your own. The turtle soup strategy takes advantage of breakout failures of 20 day high or lows using a stop order to enter the market. The simplest strategy based on the use of the principle trend is your friend, trade with the trend is the turtle system. Performance verification of the pattern setup and trailing exit. True, the typical stock tip chaser glued daily to cnbc has not heard this story, but the players on wall street, the ones who make the real money, know. The turtle soup trading system and its turtle soup plus one. The turtle soup trading strategy is based on the breakout trading system of the turtles.
It is said that it is primarily older customers who have previously eaten turtle who order the turtle dishes. Turtle soup is the first trading strategy in the series called tests. I am in sunny beach, playing turtle soup ii with the chef. On december 3, 2004, in the oats futures contract, the market printed a new 20day high. This hearty soup has a real snappy flavor from the cayenne pepper and lemon juice. The turtle soup is a strategy developed by a trader and author linda bradfordraschke. If you spend any amount of time paging through old menus, looking back. Trading strategy based on false breakouts the turtle soup pattern trades against the turtle trading system. After a sort of bullish triangle lasted days, prices closed at a new 20day high interesting enough for a trendfollower and someone who would look at chart patterns like triangles. The group of traders who called themselves turtles used almost the same.
Turtle soup and other dishes from turtle meat are still served by a few restaurants in minnesota, mostly on fridays during lent. I didnt grow up eating turtle soup, or turtle meat, but when i was 18 i worked at a restaurant back home in mississippi called anthonys market. This strategy has turned into one of my most consistent trading patterns. In order to make it clearer, on what basis the series is chosen, the series should have been. The system also included selling the new lows as well. Street smarts contents acknowledgments xi preface xiii chapter 1 introduction 1 chapter 2 swing trading 3 chapter 3 money management 7 part one tests chapter 4 turtle soup 12 chapter5 turtle soup plus one tm 22 chapter6 8020s 31 chapter7 momentum pinball tm 36. Trading system the turtle trading system was a complete trading system, one that covered every aspect of trading, and left virtually no decision to the subjective whims of the trader.
The idea is to catch breakouts in major liquid financial instruments and ride the momentum until the. Turtle soup strategy trading failed breakouts youtube. Often times, the price moved against the breakout and that is where turtle soup begins to shine. The chef there trained in new orleans, and he served mock turtle soup. The turtle soup trading system and its turtle soup plus. Today we will tell you about the trading strategy named turtle soup. The inside story has not been told to a wider audience until now.
A good mechanical trading system automates the entire process of trading. The turtle soup trading strategy delivers what its author, linda bradford raschke, set out to create. Street smarts high probability short term trading strategies. I have been trying for days, and im ready to throw the game disk out the window. It had all the flavors and the technique of turtle soup, but they used ground pork instead of turtle. In order to make it clearer, on what basis the series is chosen, the series should have been called testing range limits or supportresistance levels using the price. The answer to these questions lies in the origin of. Strategy turtle soup, turtle soup plus one forex strategies. Turtle soup forex trading strategy is an effective method.
Part of the trading system the turtles used was buying new 20 day and 50 day highs. Turtle soup trading strategy trade failed 20 day breakouts. After the occurrence of the trading system turtle which we discussed above, it was noted that this vehicle are inherent rather large subsidence of the deposit and the low ratio of gains to the loss of the large number of false breakouts in the financial markets. High probability shortterm trading strategies, linda bradford raschke and laurence a. The turtle soup trading strategy delivers what its author, linda bradfordraschke, set out to create.
443 895 233 1283 177 135 90 881 678 1138 216 1072 1216 825 125 861 1019 708 1315 274 402 1445 877 145 1063 739 1415 140 1101