?The Way of the Turtle? by Curtis M. Faith. Is a book written by one of the turtles themselves and is an excellent insight in what you need to do to become a successful trader. Curtis Faith speaks from the experience of having made $30 million for Dennis the trader who devised the experiment.

The Turtle Experiment

Before we examine the Way of the turtle lets briefly look at the experiment itself.

It all began in 1983, when Richard Dennis had a bet with his long-time friend William Eckhardt. They had a friendly dispute on whether traders were born with innate ability, or could they be taught to be successful. Dennis thought they could be taught, but Eckhardt disagreed ? the experiment was conducted and Dennis proved his point.

?Way of the Turtle? reveals the reasons for their success and covers:

The system rules and methodology (it's not complicated system) it's a simple system that anyone can understand.

Curtis also explains why even though the turtles all used the same method, some Turtles were more successful than the others.

How to expand and refine the rules the Turtles used to apply them to and succeed in any tradable market.

- How to apply the Turtle methods and rules into your own trading strategy.

- Ways to diversify and ways to reduce risk when trading.

- Perhaps the most important lesson of the book is that it shows the importance of discipline and mindset when seeking trading profits.

- The system the turtles used was simple ( so simple in fact that they learned it in 14 days), yet the results of all the turtles varied considerably in terms of the profits they made.

- It shows how psychologically difficult for most traders to execute a trading method and follow any system.

- There's also good insight into the difficulty of executing a trading system that has a few large winning trades and a large amount of small losses.

If you learn one key fact from the book, it's:

Learning a successful trading system is not enough to ensure trading success.

We all know that trading can be learned by anyone but very few traders win longer term and over 90% lose. This is not a question of these traders can't learn the correct knowledge to succeed its ? they cannot apply what they have learned.

You need the mental discipline to execute the system correctly - in order to achieve success and if you think about it this is totally correct if you can't execute a method correctly with discipline you have no method!

It's possible to become a successful trader if you have the right method ? but you also need confidence, courage and discipline, in order to execute the method. The ?Way of the Turtle? will help you understand this link between mind and method better.

You may not become as successful as the turtles ? but ?Way of the Turtle? is simply one of those books all traders should read.