Way of the turtle


Figure 10-1 ATR Channel Breakout System


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Way of the turtle the secret methods of legendary traders PDFDrive

Figure 10-1
ATR Channel Breakout System
Copyright 2006 Trading Blox, LLC. All rights reserved worldwide.


the Futures Markets (using different numbers for the days in the
moving average and the standard deviations for the channel width).
A Bollinger band is a volatility channel that was invented by John
Bollinger. The Bollinger band for this system is formed by adding
and subtracting 2.5 standard deviations of the close to a 350-day
moving average. A long trade is entered on the open if the previ-
ous day’s close exceeded the top of the channel; a short trade is
entered if the previous day’s close fell below the bottom of the chan-
nel. Trades are exited when the close crosses back through the mov-
ing average price. Figure 10-2 shows a graph of the volatility
channel for the Bollinger Breakout system.
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Way of the Turtle
SI: Silver-COMEX
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Figure 10-2
Bollinger Breakout System
Copyright 2006 Trading Blox, LLC. All rights reserved worldwide.


Donchian Trend
This Donchian Trend system, which was described in Chapter 5, is
a simplified version of the system we used as Turtles. It uses a 20-day
breakout for entry and a 10-day breakout for exits and includes a 350-
day/25-day exponential moving average trend filter. Trades are taken
only in the direction indicated by the faster moving average. If the
25-day moving average is above the 350-day average, only longs may
be taken; if the 25-day moving average is below the 350-day average,
only shorts may be taken. The system also uses a 2-ATR stop just as
the original Turtle system did. Figure 10-3 shows the breakout levels
and moving averages for the Donchian Trend system.
Turtle-Style Trading: Step by Step


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