The Way of the Turtles. A story of dizzying success.

The story of an experiment that dispelled the myth that only people with specialized training can trade on the stock exchange.

The experiment itself arose from a dispute between two traders, one of whom claimed that virtually anyone could be taught to trade on the stock exchange, while the other held the opposite view.

As a result, an advertisement appeared in various print media advertising a group of students seeking trading training, with each of those selected receiving a $1 million prize.

It's worth remembering that this took place in 1983, when that amount of money was worth much more than it would have been today.

More than 1,000 people responded to the ads, of which forty were selected. You can read about the results in the book.

The publication itself is written in an artistic style, so the book is easy and relaxed to read.

Key points:

1. The Drug of Risk – a brief introduction to stock trading, the risks involved, and ways to mitigate them. Types of traders – investors, speculators, scalpers.

2. Training the Turtle Mind – a story about the psychological aspects that, when understood, help one successfully earn money in stock trading.

3. Trading with an edge – what is an edge and why is it so important? Assessing the market to make the right decisions.

4. How to Measure Risk and Manage Money – several chapters laying the theoretical foundations of risk management, allowing you to avoid losing more than planned and earn the maximum.

5. Turtle Style Building Blocks and Practical Trading in This Style – What is the Turtle Strategy, its Basic Principles, and How to Put Them into Practice?

6. Lies and past testing – how good are ready-made trading systems sold on every corner and the effectiveness of using historical data for forecasting.

7. Bulletproof systems – are there systems that always work and do not become obsolete over time?

8. Manage Your Demons – evaluating results and analyzing the failures often encountered by beginners.

The book may be a bit heavy for those unfamiliar with stock market terms , but if you ignore some translation inaccuracies, it's still interesting.

Download The Way of the Turtles .