Sep 17, 2026 · 52 min · 11 segments
**What does it really mean to follow a trading system?** In Episode 7 of Trend & Turtle, Ben Lichtenstein and original Turtle trader Jerry Parker dig into the discipline behind systematic trend…
Jerry ParkerGuest
Ben LichtensteinHost
Yeah, there's nothing more important than one entry, one exit, the stop loss, and diversify like crazy in order to minimize the volatility and the drawdowns.
But adding too many other sort of risk management tools is sort of getting away from the core of what trend following is all about.
Sometimes you're going to say to yourself, hey, I just got to trade a lot smaller.
Hopefully, when you get out of the trades too quickly, you have lots of failure and leave a lot of money on the table, and that'll help you not do it again.
What sort of parameters do you need to have so you stay in the trade and don't get out too quickly and don't give back too much? It'll trend.
I wouldn't get into this idea that to try to include markets that seem to trend better than others or exclude markets that don't trend as well.
Yeah, there's nothing more important than one entry, one exit, the stop loss, and diversify like crazy in order to minimize the volatility and the drawdowns.
But adding too many other sort of risk management tools is sort of getting away from the core of what trend following is all about.
Sometimes you're going to say to yourself, hey, I just got to trade a lot smaller.
Hopefully, when you get out of the trades too quickly, you have lots of failure and leave a lot of money on the table, and that'll help you not do it again.
What sort of parameters do you need to have so you stay in the trade and don't get out too quickly and don't give back too much? It'll trend.
I wouldn't get into this idea that to try to include markets that seem to trend better than others or exclude markets that don't trend as well.
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