First unit starting account size 50000 account risk

First Unit
Starting account size: $50,000.
Account risk of 2%, or $1,000 per signal.
Long signal generated in live cattle at 74.00.
1N value is 0.80, 1 point in live cattle is $400, so the dollar value of
1N is $320.
2N value is 1.60, dollar value of $640.
Contracts to trade: $1,000/640
�
1.56 rounded down to 1.0.
Add the next position at 1N, or 74.00
�
0.80
�
74.80.
Stop setting is 74.00
�
1.60
�
72.40.
Table 5.10: Purchase First Unit of Live Cattle at $74.00.
No. Risk to
Unit Entry Contracts Stop Profit/Loss Original Equity
1 74.00 1 72.40 $0.00 $640 (1.28% of
original equity)
Turtle Trader The Rules

89
Addition of Second Unit
Account value is now $50,320 ($50,000
�
unit one gain of $320).
Account risk of 2%, or $1,006.40.
Second position added at 74.80.
1N value remains 0.80, or $320.
2N value remains 1.60, or $640.
Contracts to trade $1,006.40/$640
�
1.57, rounded down to 1.0.
Add the next unit at 1N, or 74.80
�
0.80
�
75.60.
Stop setting on both positions is 74.80
�
1.60
�
73.20.
Table 5.11: Purchase Second Unit of Live Cattle at $74.80.
No. Risk to
Unit Entry Contracts Stop Profit/Loss Original Equity
1 74.00 1 73.20 $320.00 $320 � 0.64%
2 74.80 1 73.20 $0.00 $640 � 1.28%
Total 2 $320.00 $960 � 1.92%
Addition of Third Unit
Account value is now $50,960 ($50,000
�
unit one gain of
$640
�
unit two gain of $320).
Account risk of 2% or $1,019.20.
Third position added at 75.60.
1N value decreased to 0.70, or $280.
2N value decreased to 1.40, or $560.
Contracts to trade $1,019.20/$560
�
1.82 rounded down to 1.0.
Add the next unit at 1N, or 75.60
�
0.70 = 76.30.
Stop setting on all units is 75.60
�
1.40 = 74.20.
Turtle Trader The Rules

90
Table 5.12: Purchase Third Unit of Live Cattle at $75.60.
No. Risk to
Unit Entry Contracts Stop Profit/Loss Original Equity
1 74.00 1 74.20 $640.00 $0.00 � 0%
2 74.80 1 74.20 $320.00 $240 � .48%
3 75.60 1 74.20 $0.00 $560 � 1.12%
Total 3 $960.00 $800 � 1.60%
Addition of Fourth Unit
Account value is now $51,800 ($50,000
�
unit one gain of
$920
�
unit two gain of $600
�
unit three gain of $280).
Account risk of 2%, or $1,036.00.
Fourth unit added at 76.30.
1N value remained 0.70, or $280.
2N value remained at 1.40, or $560.
Contracts to trade $1,036.00/$560
�
1.85 rounded down to 1.00.
Add the next unit at 1N, or 76.30
�
0.70
�
77.00.
Stop setting on all units is 76.30
�
1.40
�
74.90.
Table 5.13: Purchase Fourth Unit of Live Cattle at $76.30.
No. Risk to
Unit Entry Contracts Stop Profit/Loss Original Equity
1 74.00 1
2 74.80 1
3 75.60 1
4 76.30 1
Total 4
74.90 $920.00 $0.00 � 0%
74.90 $600.00 $0.00 � 0%
74.90 $280.00 $280 � .56%
74.90 $0.00 $560 � 1.12%
$1,800.00 $840 � 1.68%
Turtle Trader The Rules

91
Addition of Fifth and Final Unit
Account value is now $52,920 ($50,000
�
unit one gain of
$1,200
�
unit two gain of $880
�
unit three gain of $560
�
unit
four gain of $280).
Account risk of 2%, or $1,058.40.
Fourth unit added at 77.00.
1N value increased to 0.85, or $340.00.
2N value increased to 1.70, or $680.00.
Contracts to trade $1,058.40/$680
�
1.55, rounded down to 1.00.
Stop setting on all units is 77.00
�
1.70
�
75.30.
Table 5.14: Purchase Fifth Unit of Live Cattle at $77.00.
No. Risk to
Unit Entry Contracts Stop Profit/Loss Original Equity
1 74.00 1 75.30 $1,200.00 $0.00 � 0%
2 74.80 1 75.30 $880.00 $0.00 � 0%
3 75.60 1 75.30 $560.00
$120 � .24%
4 76.30 1 75.30 $280.00 $400 � .80%
5 77.00 1 75.30 $0.00 $680 � 1.36%
Total 5 $2,920.00 $1,200 � 2.4%
Turtle stops were adjusted to break even with each 1N market
move up.
Turtle Trader The Rules

92
Position Exit
Live cattle rallies to 84.50 and their exit criteria are met.