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Richard Dennis And His Millionaire Turtle Traders!
By John | September 5, 2010
The story of Turtle Traders starts in 1983. This is the amazing story of people who had no experience of trading yet they became millionaires trading commodities in a few years ! Watch this weird 30 minutes Forex Nitty Gritty video just now!
Richard Dennis is one of the great trading legends. He was once a small time trader who had started with only $300 and ended up making $150 million in a matter of few years. He is known as a great commodity trader. Richard had always believed that trading was a skill that anyone could learn and great traders could be made . The story of the Turtle Traders starts when Richard had an argument with his trading partner and close friend Bill Eckhart. Bill had always believed that great traders were only born while Richard had always believed that great traders could be made, the famous nurture versus nature story . Download the Turtle Trading Rules! Read the story of Richard Samuels, a post office mailman with a head injury and how he made a fortune with these Forex Neutrino Signals!
So to settle the matter once for all. Both decided to start a project. An advertisement was made in the New York Times, Barrons and the famous Wall Street Journal to apply for trading apprenticeship with them . Many applied. Infact the number of applicants ran around a thousand. After shortlisting only 13 people who had never traded before were selected for the apprenticeship as the famous Turtles .
These 13 people were given a set of rules. These people became famous as the Turtle Traders and these set of rules became famous as the Turtle Trading Rules. The turtles were told to stick with these rules under all market conditions . Turtle would trade futures contracts on gold, silver, soybean, crude oil, currencies, stock indexes and so on always choosing the most liquid contracts. They did not have to think or do anything else except applying those rules in a rigorous manner.
Those Turtles who meticulously followed these rules became millionaires over the next few years. A few who ignored these rules while trading failed. This is the famous story of the Turtle Traders that showed how anyone could become a great traders if he or she has the discipline to follow rules in trading . What this experiment demonstrated is that anyone can become a great trader if he or she has a good tested rule based trading system. It also demonstrated the importance of trading discipline and trading psychology in trading!
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