Revamp: Turtle Trading System

In December of 1983 Richard Dennis and William Eckhardt set out to prove if traders are made or born. They placed an advertisement in the Wall Street Journal and selected 14 people off the street to go through a 2 week training course on Dennis’ trading system. Dennis then funded these traders using his own personal funds to trade his system on the commodities market. These new traders were called Turtles and they had a very successful year of trading, gaining a combined 80% over the course of a year.

I tested the original system as described and documented. However the system used in the 80’s does not translate to modern Forex or Crypto trading. So I modified the system and created the Modern Turtle System which I tested 100 times and proved profitable.

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⏱️ Timestamps
00:00 - Start
00:48 - Indicators
01:41 - Long Examples
02:26 - Short Examples
03:15 - Test
03:23 - Testing Results & Equity Curve
04:00 - Trader’s Landing Score
04:13 - Optimization

System Specifics

🎹 Instrument: Euro vs. US Dollar (EUR/USD)

⌛ Time Frame: Daily (D1)

👀 Indicators
Name: Donchian Channels (DC)
Settings: Length = 34
By: TradingView Built-In

Name: Donchian Channels (DC)
Settings: Length = 8
By: TradingView Built-In

Name: Exponential Moving Average (EMA)
Settings: Lenght = 200
By: TradingView Built-In

Name: ATR Bands
Settings: ATR Upper = 2, ATR Lower = 2
By: AlexanderTeaH

☝️ Long Entry
1. Price above the 200 EMA.
2. Price touches the upper 34 length DC band.
3. Enter on the close of the candle that touches the upper 34 length.

👇 Short Entry
1. Price below the 200 EMA.
2. Price touches the lower 24 length DC band.
3. Enter on the close of the candle that touches the lower 34 length.

🔥 Risk to Reward: Variable

🛑 Where to place stop-loss
For Longs: Lower ATR band (2 X ATR) below entry candle.
For Shorts: Upper ATR band (2 X ATR) above entry candle.

🚀 Where to take profits
For Longs: When price touches the lower DC band - 8 length and trade is in profit.
For Shorts: When price touches the upper DC band - 8 length and trade is in profit.

Metatags
#StrategyReview #TradingStrategy #TurtleTradingSystem

For more general information:
For more information detailing the Turtle experiment:

Disclaimer
This content references opinion and is for information purposes only. Not intended to be investment advice. Seek a licensed professional for investment advice.

[TradersLanding]

ℹ️ The Trader’s Landing Community was created to offer an easier and more meaningful way of organizing and referencing YouTube comments.


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[Spinlayer]

I would love if you focus more on trading time frames below 30 minutes. Love your videos, strict to the point, comprehensible, touch of humour. You are doing great!!!

[TradersLanding]

How is my pacing on this video? Do you like me to present fast? I notice many others in this content space go so painfully slow. I just want to make sure I am not losing anybody.

[itslike]

Where did you get the 200ema from? It wasn't part of the turtle system

[BorneoYT]

Only works in 1D graphics? For 1hour its ok?

[wellnesspathforme]

As stated, you only exit when the lower D-band is touched when the trade is profitable.
Are saying the only way to exit this trade is to get stopped out?

[benjiebarker]

I think you need the ATR to adjust position size

[Mike-yeqv]

I would have to give it a one considering I think my savings account pays more on the same amount of time. However maybe a lower time frame and some other adjustments

[jaymariepomales]

Hey Trader's Landing, I know you are probably tired of this question, but can this strategy be used for scalping on smaller timeframes or would it be less accurate then?

[JenMarco]

19 years, lol! Rules are important but I’m not crazy about the entry and exit.

[hudha]

thanks for sharing.... interesting content.

[kerryriordan]

A shocker
Good luck trying to resuscitate!

[drazda]

Where do you backtest and get that nice results? :) have few strategies would like to test and happy to share results to confirm and get your input on optimizing

[vtal]

2 indicators do not work better than one, you've stuck a million of them here

[ramakantverma]

i did chomp down the subscribe button twice

[bobconnor]

good strategy for traders who are already gazillioners 🤣

[igofishing]

forexfactory -》 Monthly Profit - Daily Trading using SMA， this strategy u can test