Books

In Trading from Your Gut, original Turtle Trader and bestselling author Curtis Faith shows active traders how to profit from combining right brain skills (i.e., instinct) with left brain analysis. Drawing from his expertise in trading psychology and the Turtle trading method, Faith gives readers the tools to become a master trader. Master traders are able to harness their intuition in order to react quickly to market changes, are aware of behavioral biases, and are skilled analysts. Simply put, they combine the best of their right and left brain attributes and experience greater, more sustainable profitability.

Many investors either rely solely on “system trading” based on rigid, predefined criteria, or use “discretionary” techniques based primarily on gut instincts. In this book, Faith shows how to combine the best of both approaches. You’ll discover why your human instincts are a more powerful trading tool than you ever realized, capable of processing thousands of inputs almost instantaneously… how to harness, control, and sharpen your
instincts, and overcome the emotional and psychological factors that cloud them… when not to trust your gut, and to rely on a dedicated trading system instead… how to hone your edge by recognizing the market behaviors that signal major profit opportunities… how to manage risks by sizing your trades appropriately… handle changing markets… and make the most of today’s automated, Internet-based tools.

Way of the Turtle reveals, for the first time, the reasons for the success of the secretive trading system used by the group known as the “Turtles.” Top-earning Turtle Curtis Faith lays bare the entire experiment, explaining how it was possible for Dennis and Eckhardt to recruit 23 ordinary people from all walks of life and train them to be extraordinary traders in just two weeks.

Only nineteen years old at the time — the youngest Turtle by far — Faith traded the largest account, making more than $30 million in just over four years. He takes you behind the scenes of the Turtle selection process and behind closed doors where the Turtles learned the lucrative trading strategies that enabled them to earn an average return of over 80 percent per year and profits of more than $100 million. You’ll discover

• How the Turtles made money-the principles that guided their trading and the step-by-step methods they followed
• Why, even though they used the same approach, some Turtles were more successful than others
• How to look beyond the rules as the Turtles implemented them to find core strategies that work for any tradable market
• How to apply the Turtle Way to your own trades-and in your own life
• Ways to diversify your trading and limit your exposure to risk

Offering his unique perspective on the experience, Faith explains why the Turtle Way works in modern markets, and shares hard-earned wisdom on taking risks, choosing your own path, and learning from your mistakes.

Inside the Mind of the Turtles provides expert insight into how great traders combat the natural but counterproductive response to risk. Faith begins by examining the nature of risk and the human being’s natural response to it. Then he outlines proven techniques for seizing control of it. You will learn how to:

• Set your main focus on acquiring gains–not avoiding   losses
• Place equal importance on assets already spent and those still on hand
• Judge the quality of decisions based on their inception rather than their outcome
• Avoid drawing conclusions using too little information

You’ll find valuable advice not only from Faith, but from some of the greatest financial minds on the scene today, including fellow Turtle Jerry Parker, venture capitalist Simon Olson, and Howard Lindzon, founder of the popular Web site, “WallStrip.” Use their collective advice, and you’ll find yourself approaching risk in ways you never dreamed possible.

In today’s economy, controlling your aversion to risk is not just prudent–it’s an absolute necessity. Economic turbulence more often than not leads to poor investment decisions. Inside the Mind of the Turtles will help you conquer the fears that can cripple even the most experienced investors out there.