Ask Colin

What do you think of the Turtles Trading System?

I have not taken their course or studied their web site. However, I am familiar with the general outline of the method and the history of their evolution from an experiment to prove or disprove the idea that trading could be taught.

As I understand it, the Turtles Trading System is not a black box. Russell Sands teaches it in a very expensive (to my mind) seminar. The general ideas have become widely known. Of course, there could be people selling a black box that purports to be the Turtles System, but I would be very cautious with this, as I would be with any black box system. The problem is knowing what is in there.

As I understand it, the Turtles System is a breakout system based on new highs for a period with a stop loss based on new lows for a period. Exactly what the period is seems to be only revealed in the seminar.

The problem with the Turtles System as I understand it is that it makes rather large drawdowns at times. It seems that it can be difficult for some people to sit through these loses.

The key seems to be that when you have a winning trade in the system, it has to be pyramided rather aggressively. The exact pyramiding rules also seem only to be revealed in the seminar.

In conclusion, I don't know enough about the Turtles System to evaluate and test it. However, what is known suggests that it carries high risk.