Book Summary: Way of the Turtle

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Book Summary: Way of the Turtle Ordinary People Into Legendary Traders

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Book Summary: Way of the Turtle Ordinary People Into Legendary Traders By Curtis Faith

Trading is an interesting art form. Most of the theories in this book have to do with psychology of winning and losing. Research has shown that people are more emotional about losing money than they are about winning money. The negative effect of losing is almost 3 times stronger than winning. Professional traders know this and make big money because of it.

Why is this important to me?

I understand that you are going to invest the next 7 minutes reviewing this book summary so it needs to be actionable. With that said, this is important because people are looking for ways to make money in the markets. Financial planners have made a killing over the last 25 years; unfortunately most of their clients have not. This is a paradox that has people worried about their retirements. When you enter a 401K, it is touted as simply put money in and forget it. The problem here as people know, most 401Ks are really bad investments. People put in money for years and the account seems to not have moved or worse is less than what you put in. Market pundits will tell you to simply think long term and keep putting money in. There are so many problems with this logic but I will not go into it now.

Financial education needs to be acquired by each person. I am accountable for my financial future and so are you.

Curtis Faith was an original turtle and at 19 years old made $31.5 million in profits. Lets examine what, why and how around the turtles.

1. What is the way of the turtle? This is a trading system based on principles that beat the market handedly over a long period of time. This book examines the system and shows you how they did and why some turtles were more successful than others.

2. Why is this important? We looked at this in the last section but based on my own quest for financial education, I wanted to study the most successful traders and understand the psychology around it.

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