Replies to post #1327 on Larry's Market Comments at Critical Points

[TREND1]

Turtle Trading System:
Very Interesting.IMHO.

Chapter #3 Position Sizing is the real starting point.


http://www.originalturtles.org/system.htm

[bbgold]

I agree with EXP
"In addition, the system trading rules are often not the most difficult part of a system. Two more aspects of a system appear more difficult than that. The first one is money management, i.e. position-sizing. The second one is the emotional discipline to stick to the system."

And a big part of money management is not only setting a good position size but sticking to some type of a stop loss limit so that the losses from the Bad trades do not outwiegh the gains from the Good trades. Some things that I did not have the discipline to stick to last year, position sizing, sticking to the Plan and limiting my losses on trades that were Against the Plan. As has been said by others "Having a good Exit strategy is just as important as an Entry strategy". Correct position sizing and money management is what is needed in order to have the Exits not account for substantial portfolio losses.
Enjoy the Day Larry! :^)