Can the Turtle Trading work for Day Traders?

According to Curtis, the Turtle System Exits were apparently the single most difficult part of the Rules. Waiting for a 10 or 20 day new low can often mean watching 20%, 40% even 100% of significant profits evaporate. "There is a very strong tendency to want to exit earlier. It requires great discipline to watch your profits evaporate in order to hold onto your positions for the really big move”. 

Canadian Dollar Stays Weak as Slide in Oil Continues

Canadian dollar remains the weakest major currency this week as the slide in crude oil continued. WTI crude oil reached as low as 36.38 as recent down trend continues and that pushes USD/CAD to as high as 1.3654 so far today. The fall in oil price is a result of worries over further supply growth s OPEC data showed productions rose to the highest level since April 2012, at 31.7m barrels per day. Meanwhile, there is continuous worry over China's slowdown that could lower the demand for commodities. AUD dollar was lifted by employment data yesterday but the strength was brief. AUD rebound was limited below recent resistance at 0.738/9 and weakens notably today. 

The Turtle Rules

Turtles were taught very specifically how to implement a trend-following strategy. The idea is that the "trend is your friend", so you should buy futures breaking out to the upside of trading ranges and sell short downside breakout. In practice, this means, buying new four-week highs as an entry signal.

Asian shares slipped while the euro retained lavish gains on Friday, a day after its biggest one-day surge in nearly seven years as the European Central Bank's stimulus package fell well short of markets' high expectations.