TURTLES

Hello and welcome to my blog.

Right now everything is in limbo and sort of half done. Some house cleaning and purging done but still a mess. Two computers but nothing shifted over to the new one. Market stuff up in the air and still lacking a good monitoring procedure. In addition I have added a couple of new indicators which need a closer look. Two steps forward and one step back.

While getting a couple of how to books for Windows 7 I browsed the business section and came away with "The Complete Turtle Trader" by Michael W. Covel. A pretty good summation of what the Turtles were about. The best chapters are the one on the Turtle philosophy and the one on the Turtle system. I will admit that years ago I was gullible enough to pay big bucks for a 3 day seminar on the Turtle secrets. Man what a shnook. Oh well live and learn. So years later I am now going to use a very stripped down and modified version of the Turtle way.

Added to what I am already using will be a breakout above an 18 day high. Pretty basic. For risk management I am looking at using a breakdown below a 3 day low. As well I am adding a modified Average True Range for risk management. The MetaStock codes are at the bottom of the post. I have to be careful though since the charts are already overly lined and approaching the point of 'where is the price'. I think these new tools will be worthwhile and it is a matter of scrolling the charts to see how well they will fit in with what I already have. This means that part of my organization over the next few weeks will be fitting the pieces together to form a coherent whole. All of the parts are there but a good monitoring system is still lacking. I am confident one will emerge in the next couple of weeks.

Thank you for your time.

Turtle High:
If(H > Ref(HHV(H, 18), -1),1,0)
Binary indicator of a new 18 day high.

Turtle Low:
If(L < Ref(LLV(L, 3), -1),-1,0)

Turtle ATR:
HHV( C - (2*ATR(18)),18)
Risk management using the highest high value of 2 times the 18 day ATR over the last 18 days subtracted from the close.

These will not be used in isolation but added to the mix of indicators I am already using. I will post a chart later which will probably confuse more than clarify. 'Where is the price?'

Once again, thank you for your time.