Jun 16, 2026 · 41 min · 11 segments
Episode 4: Position Sizing, Risk, and Letting Profits Run Most traders focus on finding the perfect entry. Trend followers know that's only the beginning. In this episode, Ben and original Turtle…
Jerry ParkerGuest
Ben LichtensteinHost
We answered the questions where we get in, when we get in, and we talked about why we get in.
But also what stood out, what stuck with me is how the systematic approach, that rules-based approach to entries, it's so conducive to that bigger picture idea that every trade's treated the same, that they're all treated equally.
Yeah, every trade needs to be treated the same so we can pick up the sample size and trade everything the same way.
And regardless of whether it's a long or a short and whether it's a commodity or a stock, it doesn't really matter.
This is one of the geniuses of this strategy is to ensure how do we create something that's more reliable? And that is strictly just by backtesting lots and lots of over decades, many hundreds and hundreds of markets.
Definitely the way I've traded my entire career, not trying to fine tune things too much, but definitely relying upon that sample size.
So the sample size and keeping the systems clean and with less clutter and less parameters is even more important now because we're moving away from a larger sample size.
You know, I kind of think of it, I was fishing the other day in the Sound, and I was wading way out.
You know, and I've talked to you how I think of it kind of as like this, you're throwing out this wide net, you know, and trying to capture or cast out.
And in that's going to be one of these outliers, these big trades that develop.
And as you say that, I kind of think about... that cast net doesn't have small squares on the top of it and larger squares on the bottom of it.
We answered the questions where we get in, when we get in, and we talked about why we get in.
But also what stood out, what stuck with me is how the systematic approach, that rules-based approach to entries, it's so conducive to that bigger picture idea that every trade's treated the same, that they're all treated equally.
Yeah, every trade needs to be treated the same so we can pick up the sample size and trade everything the same way.
And regardless of whether it's a long or a short and whether it's a commodity or a stock, it doesn't really matter.
This is one of the geniuses of this strategy is to ensure how do we create something that's more reliable? And that is strictly just by backtesting lots and lots of over decades, many hundreds and hundreds of markets.
Definitely the way I've traded my entire career, not trying to fine tune things too much, but definitely relying upon that sample size.
So the sample size and keeping the systems clean and with less clutter and less parameters is even more important now because we're moving away from a larger sample size.
You know, I kind of think of it, I was fishing the other day in the Sound, and I was wading way out.
You know, and I've talked to you how I think of it kind of as like this, you're throwing out this wide net, you know, and trying to capture or cast out.
And in that's going to be one of these outliers, these big trades that develop.
And as you say that, I kind of think about... that cast net doesn't have small squares on the top of it and larger squares on the bottom of it.
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