# Trading Share

# Turtle Trading Rules

If you can understand this sentence, it means your trading is already getting started. The following text is for friends who truly want to learn trading:

Volatility and consecutive losing trades are good things. They prove my loyalty to my principles, and separate me from others!

I especially like this line!

We know that a real trading system with positive expected value might not be “perfect” in every single trade. You always have to cut losses, you always have to endure drawdowns, and systematic trading is not invincible all the time. It always has to face volatile, choppy market conditions—conditions where we must pay the cost of trial and error. And at that point, you’ll end up with consecutive losses.

When there’s no trending move, our equity curve may just keep sliding lower in a range.

And at this moment, what matters is your cognition—what’s being tested is your fundamental trust in the trading system you built from the deepest level of your understanding, through endless storms and hardships.

Are losses because the trading method itself has a problem?
Or are they the unavoidable trading cost under uncertainty in price action?
Does every trade have to make money?
Or is it about relying on the long-term profits generated by continuously outputting based on trading logic?

Know this: as human beings, we’re always driven to seek profit and avoid harm. This is instinct we accumulated during our long evolutionary journey. When we’re losing, our instinct makes us want to change this situation. So if someone lacks the most fundamental trust in their trading system, what will they do?

They will definitely modify their system. They’ll fall apart in minutes—they can’t stick with it at all.

Like the Turtle Trading Rules. It’s been public for so long—how many people truly can master it? When they’re profitable, everyone praises it. But what happens once they start losing?

You’ll find all kinds of reasons appearing: the Turtle Trading Rules have already gone outdated, too many people know about it, and it’s no longer suitable for the current market…

But in reality, the Turtle Trading Rules have never “failed.” Its logic is laid out in plain sight—it has pros and cons. Its logic strongly matches the positive expected value trading system we talked about earlier. It’s just that countless people can’t pass the real test brought by volatility and consecutive losing trades!