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Strategies & Market Trends : Charts for Breakout
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To: Julius Wong who wrote ()5/30/2000 10:52:00 PM
From: Jim Battaglia  Read Replies (1) of 3506
 
Turtle Strategy:

The TURTLE Strategy which attempts to replicate the strategy
documented in MARKET WIZARDS and used by Richard Dennis and WilliamEckhardt in an experiment designed to determine if successful traders were born or could be taught.

Over a period of about two weeks, Dennis and Eckhardt taught a group of novices some of their systems. They gave the group all the specifics, and after the training, Dennis funded the group and sent them off to trade on their own.

The group performed so well that Dennis repeated the
experiment the following year with a second group of traders.

These two groups of traders collectively became known in the industry as the TURTLE TRADERS. The system was shrouded in secrecy for years, but this module captures the thrust of it -- buy on a breakout to new one-month highs and hold until there's a breakout to the downside, defined as a new
low for the last 10 market days.

Funds and/or stocks are ranked by percent ROC (Rate Of Change) over the past month -- 22 market days. If a fund, stock or ETF is headed for a triple-digit ROC, it will quickly find itself at the top of the TURTLE
module.

TRADING RULES FOR TURTLE TRADING MODULE

BUY on FUNDS OR STOCKS hitting new one-month high
STRONG BUY on FUNDS OR STOCKS hitting new 10-week high
SELL on FUNDS OR STOCKS hitting new two-week low
HOLD on FUNDS OR STOCKS doing neither of above



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