Uploaded December 2023 | Updated September 2026, 2 days ago
Turtle Trader Jerry Parker missed the first big trend of his career - February heating oil 1984 - because he couldn't bring himself to enter the trade, despite knowing the rules.
► Full article: bettersystemtrader.com/trading-triumphs-jerry-parkers-journey-part-1
In this episode:
• Why most Turtle trainees skipped the first major trend in January 1984
• How Jerry spent 11 months taking half the trades he should have - and what finally changed
• Richard Dennis's rule: "If you follow the rules and lose money, you'll be fine. But if you make money without following the rules, you're in trouble."
0:00 Introduction
0:51 The February heating oil trade - and why Jerry missed it
5:30 How missing entries compounds: the type-two error
8:45 Rich Dennis checks in: "How many trades did you do this week?"
11:10 The fear of anticipated loss vs. actual loss
14:20 Why filters and perfect entry setups cost trend followers
17:58 Advice for traders struggling to execute
20:30 Closing preview of part two
Related episodes:
• Jerry Parker: 30+ years of Turtle trading experience: youtu.be/RxF6K6DvY2Y
• Trading Triumphs: Jerry Parker #3 - The Dangers of Optimization: youtu.be/mM2T8d7smi4
In trend following, roughly 10% of trades produce outlier returns that pay for everything else. Missing entries means taking the losses without the winners. Jerry Parker spent 11 months learning this the hard way in 1984, and the lesson has shaped how he thinks about trade execution ever since.
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► Better System Trader: bettersystemtrader.com
► Follow on X: twitter.com/bettersystrader
#TrendFollowing #TurtleTrader #SystemTrading
Disclaimer:
Trading in the financial markets involves a substantial risk of loss. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice.
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Turtle Trader Jerry Parker missed the first big trend of his career - February heating oil 1984 - because he couldn't bring himself to enter the trade, despite knowing the rules.
► Full article: bettersystemtrader.com/trading-triumphs-jerry-parkers-journey-part-1
In this episode:
• Why most Turtle trainees skipped the first major trend in January 1984
• How Jerry spent 11 months taking half the trades he should have - and what finally changed
• Richard Dennis's rule: "If you follow the rules and lose money, you'll be fine. But if you make money without following the rules, you're in trouble."
0:00 Introduction
0:51 The February heating oil trade - and why Jerry missed it
5:30 How missing entries compounds: the type-two error
8:45 Rich Dennis checks in: "How many trades did you do this week?"
11:10 The fear of anticipated loss vs. actual loss
14:20 Why filters and perfect entry setups cost trend followers
17:58 Advice for traders struggling to execute
20:30 Closing preview of part two
Related episodes:
• Jerry Parker: 30+ years of Turtle trading experience: youtu.be/RxF6K6DvY2Y
• Trading Triumphs: Jerry Parker #3 - The Dangers of Optimization: youtu.be/mM2T8d7smi4
In trend following, roughly 10% of trades produce outlier returns that pay for everything else. Missing entries means taking the losses without the winners. Jerry Parker spent 11 months learning this the hard way in 1984, and the lesson has shaped how he thinks about trade execution ever since.
---
► Better System Trader: bettersystemtrader.com
► Follow on X: twitter.com/bettersystrader
#TrendFollowing #TurtleTrader #SystemTrading
Disclaimer:
Trading in the financial markets involves a substantial risk of loss. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice.
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