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James Dimaria: TurtleTrader Taught by Richard Dennis

(December 03, 2008)

James DiMaria Home Page

Jim DiMaria

James DiMaria was a Turtle. His company is JPD.

The origins of the Turtle nickname are as obscure as the selection process, though DiMaria advances the notion that the moniker means over the long run, we're going to win. In 3 1/2 years as a Turtle, DiMaria's trading results proceeded in fits and starts, and over the long run he came out ahead.

Jim DiMaria learned an important trading principle in the less lucrative arena of baseball statistics: The players who score the most runs are home run hitters, not those with consistent batting records.

It's the same with trading, DiMaria says. Consistency is something to strive for, but it's not always optimal. Trading is a waiting game. You sit and wait and make a lot of money all at once. The profits tend to come in bunches. The secret is to go sideways between the home runs, not lose too much between them.

James DiMaria has worked in the futures and securities industries since 1976. He began trading commodities futures in August 1982 on the floor of the Mid-America Commodities Exchange in Chicago. In April 1983, he left the floor and worked as an analyst for Mid-Am Options, a firm which specialized in options trading. In January 1985, Mr. DiMaria began trading commodities for Richard J. Dennis, Jr., a speculative trader of futures and options. In June 1986, he again became an independent, self-employed trader.

NOTE: If you want to learn about trend following trading in general there is one definitive text: the bestselling classic "Trend Following: How Great Traders Make Millions in Up or Down Markets" by Michael Covel. If you want to learn about the most famous group of trained trend following traders, the Turtles and their teacher Richard Dennis, "The Complete TurtleTrader" by Michael Covel is the only complete biography (with all of the Turtle rules) available. If you want to learn trend following techniques and systems through advanced home study and or seminars click here.

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