Everything about forex trading can be learned with the right forex education and here we are going to give you a great example of what can be achieved.
You don’t need to work hard to win at forex trading you just need to learn the RIGHT knowledge.
A perfect example of this is the “turtle” experiment, which is outlined below.
In just two weeks a group of 14 people from different walks of life were taught to trade financial markets, and these traders nicknamed the “turtles” became world famous.
The turtle experiment proved ANYONE can become a successful trader with the right education and everything about trading can be specifically learned.
Traders with no experience learned the tools to make millions in just two weeks, and they represented a variety of different people, from all walks of life including:
· An actor
· A security guard
· Two professional card players
· An auditor
· A boy who had just left school
· A woman who used to be an exchange clerk
They then went on to make annualized 70% returns!
Is Trading a Learned Skill, or is it all Down to innate Ability?
In 1984, Richard Dennis taught a Trend Following trading methodology to the group of students above, to prove anyone, no matter what their profession, could be taught the skills required to trade successfully.
Dennis was settling a debate with his friend and business partner William Eckhardt. Dennis believed anyone could learn to trade and Eckhardt disagreed - the “turtle” experiment was conducted to settle the debate.
The Experiment
The group of 14 traders he taught (the turtles) earned an average annual compound rate of return of 80% proving Dennis right and making him $100 million dollars!
What the Experiment Proved
The experiment with the “turtles” showed that anyone could indeed be taught to trade - all they had to do was learn, and follow a set of rules.
What you can learn from the Turtle experiment
Trading actually looks quite simple, yet few succeed and the fact is 95% of traders lose all their money.
The reason most traders fail is simply they cannot get the right mindset to succeed. The turtle trading experiment taught them the RIGHT MINDSET to trade successfully
The system they were taught was essentially simple, so simple in fact, that anyone could learn it and he combined this with giving the traders not just the system and rules but also the mindset to succeed and trade it with discipline.
Dennis realized that most traders can’t trade with discipline, their emotions get involved and they end up losing.
Why is Discipline so Important?
Quite simply, without the discipline to follow your method, you don’t have a method at all, and are doomed to failure - money management breaks down and losses inevitably follow.
Dennis taught them to have confidence in the system they were trading, and follow it rigidly to achieve success.
A Simple System + Discipline = Trading Success
Dennis knew that complicated trading methods are NOT likely to be more successful than simple ones – as a general rule, a simple trading system is more likely to be successful than a complicated one, as its more robust.
Simple systems are easier to understand as well – this meant the turtles had confidence in the system and could apply it with discipline.
So, What can we Learn from the Turtles?
Well, we know that anyone can learn to trade successfully and it can be do quickly.
We also know that simple systems applied with discipline and strict money management will work over time.
To become a successful trader you need a simple method that you can understand and have confidence in.
Just as confidence flows from understanding, discipline flows from confidence and it is the discipline to follow your method through losing periods which, is the key to long term success
You may not be as successful as the turtles but you can become a successful trader and you can make a lot of money.
Trading offers ANYONE the chance to build wealth - all you need to do is have the right mindset and learn the right knowledge.
Are you prepared for a challenge that could change your financial future forever? If you are, trading offers you the route to financial success.
You don’t need to work hard to win at forex trading you just need to learn the RIGHT knowledge.
A perfect example of this is the “turtle” experiment, which is outlined below.
In just two weeks a group of 14 people from different walks of life were taught to trade financial markets, and these traders nicknamed the “turtles” became world famous.
The turtle experiment proved ANYONE can become a successful trader with the right education and everything about trading can be specifically learned.
Traders with no experience learned the tools to make millions in just two weeks, and they represented a variety of different people, from all walks of life including:
· An actor
· A security guard
· Two professional card players
· An auditor
· A boy who had just left school
· A woman who used to be an exchange clerk
They then went on to make annualized 70% returns!
Is Trading a Learned Skill, or is it all Down to innate Ability?
In 1984, Richard Dennis taught a Trend Following trading methodology to the group of students above, to prove anyone, no matter what their profession, could be taught the skills required to trade successfully.
Dennis was settling a debate with his friend and business partner William Eckhardt. Dennis believed anyone could learn to trade and Eckhardt disagreed - the “turtle” experiment was conducted to settle the debate.
The Experiment
The group of 14 traders he taught (the turtles) earned an average annual compound rate of return of 80% proving Dennis right and making him $100 million dollars!
What the Experiment Proved
The experiment with the “turtles” showed that anyone could indeed be taught to trade - all they had to do was learn, and follow a set of rules.
What you can learn from the Turtle experiment
Trading actually looks quite simple, yet few succeed and the fact is 95% of traders lose all their money.
The reason most traders fail is simply they cannot get the right mindset to succeed. The turtle trading experiment taught them the RIGHT MINDSET to trade successfully
The system they were taught was essentially simple, so simple in fact, that anyone could learn it and he combined this with giving the traders not just the system and rules but also the mindset to succeed and trade it with discipline.
Dennis realized that most traders can’t trade with discipline, their emotions get involved and they end up losing.
Why is Discipline so Important?
Quite simply, without the discipline to follow your method, you don’t have a method at all, and are doomed to failure - money management breaks down and losses inevitably follow.
Dennis taught them to have confidence in the system they were trading, and follow it rigidly to achieve success.
A Simple System + Discipline = Trading Success
Dennis knew that complicated trading methods are NOT likely to be more successful than simple ones – as a general rule, a simple trading system is more likely to be successful than a complicated one, as its more robust.
Simple systems are easier to understand as well – this meant the turtles had confidence in the system and could apply it with discipline.
So, What can we Learn from the Turtles?
Well, we know that anyone can learn to trade successfully and it can be do quickly.
We also know that simple systems applied with discipline and strict money management will work over time.
To become a successful trader you need a simple method that you can understand and have confidence in.
Just as confidence flows from understanding, discipline flows from confidence and it is the discipline to follow your method through losing periods which, is the key to long term success
You may not be as successful as the turtles but you can become a successful trader and you can make a lot of money.
Trading offers ANYONE the chance to build wealth - all you need to do is have the right mindset and learn the right knowledge.
Are you prepared for a challenge that could change your financial future forever? If you are, trading offers you the route to financial success.
