Trading Blogs

What the Turtle Trader trading book does is question the age old debate between nature versus nurture. Do genetics and people’s innate qualities predetermine someone’s success in the markets? Or is it someone’s personal experiences from learning, interaction with peers and direct personal practice with trading the markets determine success?

I was asked recently about what they should do when you are trading and come up with a major loser of a trade. A major losing trade is a trade which you just let go to run its course. It is no longer part of your trading portfolio but has migrated into your investment portfolio by default. Instead of cutting your losses short as every trader should do, by calculating the exact stop loss level to exit at, you held on with hopes that the price will reverse and start heading the direction you wanted it to go to.

Like many of those who are engaged in this kind of trading business, I strongly believe that we are presently in the super cycle of the global commodities as we generally see the commodity prices upward trend that is expected to remain the same way for at least 10 years. This is important to keep in mind before we can really examine the different factors that influence the trends of the global commodities. While we may corrections that are only short-term, the substantial growth in the trend is still ahead of us.

This will be a “live book review” of the “Complete Turtletrader” by Michael Covel. What's with the sideway's book cover? Well, this book will definitely change your perspective! I will be jotting my thoughts and impressions of the book as I read through the chapters of the book and highlight some notes for my (and your) benefit.