BenL

Looking for outliers. Trading real markets with real rules. Process Over Prediction. Educational only. Not investment advice.

[BenL @TrendAndTurtle]

I remember feeling a little like this on Day 1. Standing there looking out at something pretty big, with absolutely no idea where it was going to take me.
150 days in.
The experiment continues.
Process over prediction.

[BenL @TrendAndTurtle]

Getting ready to sit down with Jerry tomorrow to record another episode of Trend & Turtle.
We’re about 150 days into the experiment — and the questions are getting more interesting.
Shorts. Sample size. AI. And some real trades currently in the mix.
Plenty to talk about.
Process over prediction.

[BenL @TrendAndTurtle]

This has become a recurring theme in my conversations with Jerry @rjpjr12 - Do the hard thing. Don’t change the rules just to make yourself more comfortable. Don’t justify the mistakes. Be honest with yourself. Pure gold.

[BenL @TrendAndTurtle]

The system has no emotions. The trader does. The challenge isn’t eliminating them. It’s keeping them from making the decisions.
Process over performance.

[BenL @TrendAndTurtle]

“Loose pants” wasn’t exactly on my trend-following syllabus. But the lesson behind it is a good one.
Give the trade room. Follow the rules. Stay with it.
Process over Prediction.

[BenL @TrendAndTurtle]

All work and no play… Been putting a lot of time into Trend & Turtle lately. But this is one of the reasons I moved to the Outer Banks. A fishing rod, Bear and a little time on the beach.

[BenL @TrendAndTurtle]

Edwin Lefèvre’s Livermore-inspired character in Reminiscences of a Stock Operator spoke about one of the more counterintuitive things about trading.
@rjpjr12 on how human nature hasn't changed much.
Process over Prediction.

[BenL @TrendAndTurtle]

Thinking about giving away a little piece of trading floor history…One of my original clerk jackets from my days on the floor.
Anyone interested?

[BenL @TrendAndTurtle]

Blew up a couple small trading accounts along the way.
The old timers called it tuition.
At the time, it sure didn't feel like an education. Looking back, I learned a lot more from those losses than I realized.
Process over Prediction.

[BenL @TrendAndTurtle]

Most of my career in markets everything has felt immediate. The next tick. The next trade. The next headline. One of the harder things I’m learning now is to think differently about time. Not everything needs to happen today. Progress doesn't happen all at once.

[BenL @TrendAndTurtle]

The system can be simple. Sticking with it isn't.
One thing I'm learning is just how difficult it can be to trust the process when things aren't going your way.
That's when the real test begins.
Process over prediction.

[BenL @TrendAndTurtle]

Two years ago this week, I moved to the Outer Banks.
Today felt like a good day to look back.
From the trading floors in Chicago and TradersAudio — including days like the Flash Crash — to starting over and building Trend & Turtle from the Outer Banks.
It's been a long road.
There are plenty of things I'm still trying to figure out. But every once in a while, I think it's important to stop looking at how far you still have to go and appreciate how far you've already come.
I'm proud of the journey. And I'm proud of what I'm building.
The experiment continues. 🐢
https://t.co/TFYXwvRj2f
#TrendAndTurtle #TrendFollowing #Trading #TradersAudio

[BenL @TrendAndTurtle]

@rjd_mkts @TradersAudio https://t.co/GbRfejNQjS

[BenL @TrendAndTurtle]

Do the right thing. Do the hard thing. Follow the rules.
The Turtle Traders were losing money — but they were doing exactly what they were supposed to do.
That's the lesson.
Process over prediction. 🐢

[BenL @TrendAndTurtle]

The hard part isn't the rules. It's following them.
Losing money. Drawdowns. Doubt. They're part of the game.
The challenge is having the confidence in your system to keep doing what you're supposed to do.

Process over prediction. 🐢

[BenL @TrendAndTurtle]

@SJosephBurns @grok Steve — interesting timing. I’m actually in the middle of learning and trading a systematic trend-following approach myself, and documenting the process as I go.

What’s surprised me most so far is that the rules aren’t really the hard part. Following them is. 🐢

[BenL @TrendAndTurtle]

One thing I’m learning: the P&L isn’t the grade.
Did I follow the system?
Did I take the trades the way I was supposed to?
That's the grade.
Process over prediction. 🐢

[BenL @TrendAndTurtle]

The hard part isn't the rules. It's following them.
Losing money. Drawdowns. Doubt. They're part of the game.
The challenge is having the confidence in your system to keep doing what you're supposed to do.

Process over prediction. 🐢

[BenL @TrendAndTurtle]

Process over prediction.
No signals. No shortcuts. No predictions.
A rules-based, systematic approach to trend following — documenting the markets, trades, mistakes and lessons along the way.
The experiment continues. 🐢

Follow @TrendAndTurtle

[BenL @TrendAndTurtle]

400 markets? How about 800? Says @rjpjr12
The next outlier can come from anywhere.
Diversify. Trade smaller. Hunt the big trends.
🐢 Trend & Turtle — Episode 7: Turtle Boot Camp