Discussion of article "The 'Turtle Soup' trading system and its 'Turtle Soup Plus One' modification"

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New article The 'Turtle Soup' trading system and its 'Turtle Soup Plus One' modification has been published:

The article features formalized rules of two trading strategies 'Turtle Soup' and 'Turtle Soup Plus One' from Street Smarts: High Probability Short-Term Trading Strategies by Linda Bradford Raschke and Laurence A. Connors. The strategies described in the book are quite popular. But it is important to understand that the authors have developed them based on the 15...20 year old market behavior.

A complete set of Buy trade entry rules in the "Turtle Soup" TS can be formulated as follows:

  1. Make sure that at least three days have passed since the previous 20-day low
  2. Wait until the instrument price falls below the 20-day low
  3. Place a pending buy order 5-10 points above the recently broken down price low
  4. Once the pending order triggers, set its StopLoss at 1 point below this day's low price
  5. Use a Trailing Stop once the position becomes profitable
  6. If the position closes by a Stop Loss on the first or second day, you can repeat the entry at the initial level 

Sell trade rules are similar, they should be applied at the upper border of the range, i.e. based on the 20-day high.


Author: Alexander Puzanov

 
Good stuff! Are my eyes playing tricks on me, or are all these different strategies basically unprofitable?
 

Good Article , Thank for share..

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