Once again Turtle Soup ..

[karthik_sri]

I want to under stand this TS! somewhat not getting into it. If you dont mind can anyone help with a chart on how 20days low or high looked and how to Trade! I know am asking you this question in page 45 but couldnt able to understand or my brain is dead in understanding this strategy! Even RR invited me to study this but couldnt able to!

Karthik

 

[jamit_05]

I want to under stand this TS! somewhat not getting into it. If you dont mind can anyone help with a chart on how 20days low or high looked and how to Trade! I know am asking you this question in page 45 but couldnt able to understand or my brain is dead in understanding this strategy! Even RR invited me to study this but couldnt able to!

Karthik

We have not figured out a way to go about TS yet, but efforts are underway. However, I can provide the outline.

The name of the method is "Turtle Soup plus one" which means fading fresh 20 day breakdowns the very next day.

The basic idea is to draw a line where breakdown has occurred and enter a "ticks" above, with SL a few "ticks" below.

However, for profitable results one is required to go deeper.

One such trade, which will be tracked today is of CESC:

You will notice the horizontal red line. That is the Breach Line. The trade is on when price goes a few tick above it. Track a few such trades and you will get a hang of it.



Regards.

 

[jamit_05]

Short IndusInd 442.90 SL 446.05 ;

 

[anup]

Short IndusInd 442.90 SL 446.05 ;

SL hit.....

 

[jamit_05]

SL hit.....

Yes sir... and no other trade is happening...

 

[anup]

Yes sir... and no other trade is happening...

Will wait... No problem

 

[PartTime_Trader]

I want to under stand this TS! somewhat not getting into it. If you dont mind can anyone help with a chart on how 20days low or high looked and how to Trade! I know am asking you this question in page 45 but couldnt able to understand or my brain is dead in understanding this strategy! Even RR invited me to study this but couldnt able to!

Karthik

Hi karthik

for simplicity lets take only one case i.e. HHV(H,20)

Turtle Long i.e. Turtle Soup Short

1. Turtle trading method ==> Buy breakout above 20 day highest high
   
   
2. In theory this Turtle is v high Reward/Risk ratio method but with low win loss ratio, typically 30/70
   
   
3. TS method uses this fact that 70% of BOs will fail, now using this failure as entry to trade the opposite direction of original Turtle Rules
   
   
4. Effective this is trading Failure of Breakout above 20 bars Highest High Value.

Hope this helps

::thumb::


Edit: Just plot these two lines HHV(H,20) and LLV(L,20) on charts and you will see all the scenarios clearly

 

[TraderRavi]

Today market was down so TS was not fruitful(longs)...just wondering in rising/green market most of the stocks will give profit , irrespetive of whether TS candidate or not ......

 

[Rish]

Normally Turtle failure will be very less if you use Fibo criteria and trade, overall success ratio will be high with Fibo Strategy.

Otherwise, Turtle will make you confuse.

 

[jamit_05]

Busy Day