Forex Trading - 2 Weeks Education and These Novice Traders Made Millions

Forex Trading - 2 Weeks Education and These Novice Traders Made Millions!

by Monica Hendrix

How did a group of traders with no experience, learn to trade and end up making hundreds of millions of dollars. To find out we need to go back over half a century to one of the most famous trading experiments of all time and see what we can learn.
The Experiment.

Trading legend Richard Dennis had a theory that anyone could learn to trade if they had the right mindset and the right method so he set out to prove his point.

He nicknamed the group the turtles and they have gone down in trading history.

He took a group of people and the only thing they had in common was that they had never traded and had not one bit of trading experience.

The group was a mixed bunch - a female auditor, a boy who had just left school a couple of card players and a security guard to name just a few.

He then taught them in two weeks and gave them some trading money and accounts.

The result is history - $100 million dollars in the first four years and many of these traders went on to become legends.

What You Can Learn

Think about it for a moment - this group is no different to you!

So it means you have the potential to - sure, you may not become as rich as the turtles but the opportunity is there and that's an inspiration.

Secondly 95% of traders lose so what did this group do right?

The answer is they had a simple method and it was so simple anyone could learn it, but that's not the hard part of trading - executing your trading system with discipline is.

Dennis was well aware of this so he made sure the group knew exactly how and why it would work (it was essentially a breakout system) and made sure they had confidence in it.

Confidence is essential to execute a trading system with discipline and keep in mind, if you have no discipline to execute your method you don't have one!

Most traders lack discipline they don't have the confidence to follow a system because they follow others or they get the wrong system and believe the numerous trading myths that are circulated.

Trading success comes from within.

Trading success is down to you and that's what Dennis taught the turtles.

Once you accept this. its getting a system you have confidence in and can follow with discipline which is the key and not following a vendor with a useless system with a simulated track record!

There are no trading secrets - trading is down to you and the ability to control your emotions that was true 25 years ago and is still true today.

You Can Do It Too!

Trading isn't easy and you wouldn't expect it to be, with the rewards on offer but there is a huge difference between something being beyond you and being possible.

Sure, you will have to work at the basics and get the right education but isn't that a small price to pay, for the riches that successful trading can bring?

I hope the story of the turtles inspires you to trade, it inspired me and sure I haven't made as much money as them - but I have been successful and got a lot out in terms of rewards for the effort I have put in.

You can be a successful trader to just have desire and a willingness to learn and your all set.