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To: Tomato who wrote (1361)	8/15/2005 2:24:42 PM
From: Jibacoa	Read Replies (1) \| Respond to of 3722

Hi,Wayne Re: The Turtle Trading System As you know, that system was developed for trading commodities and futures and it had good results when it was used by the "turtles" which reportedly had an annual compounded rate of return of 80% for four years, showing that Richard Dennis was right in his belief that he could teach people to become traders as opposed to his friend Bill Eckhardt who thought that traders were "born" and genetics and aptitude were important. According to the "turtles" their success was based on their confidence and their discipline to consistently apply the rules that they were given." The "turtle" is a complex system which is widely known and freely available and it is accepted that as a trading system it shows a positive expectancy of returns.I have no experience with it and I don't know how good it would be for trading stocks. All "trading systems" consist of an entry and exit algorithm and a capital allocation model or "money management". If you are interested look into SFO (Stocks,Futures & Options Magazine) Volume 4 No.8 (August 2005) pages 29 to 34 in an article by George Pruitt & John Hill which has some good comments on the system. In another article by Jeff Malec (Page18), on that same number of SFO, he says that each investor must look himself in the mirror and ask what is more important-being right or making money ? If profits is the main goal, you have to accept a good number of small % losses. Or put in another way:"It is OK to be wrong, but don't be wrong for long".Or "cut your losses short". Or as Jesse used to say: "It doesn't pay a man to be wrong" Or "A loss never bothers me after I take it, I usually forget over night, but being wrong, NOT TAKING THE LOSS, THAT IS WHAT DOES THE DAMAGE TO THE POCKETBOOK AND TO THE SOUL". RAGL Bernard