Sunday, June 27, 2010

Experience


Back in the nineteen eighties, a group of people with no trading experience took part in an experiment to learn currency trading in just 14 days. The result? They want on to make hundreds of millions of dollars. How? Let's take a look.

The group I am referring to above were nicknamed "the turtles" and the experiment was conducted by trading legend Richard Dennis.
Dennis wanted to prove that anyone no matter what there age, occupation or educational background, could learn to trade and he set out to prove it. The people chosen were a mixed group:

A female auditor, a security guard, an actor, a kid fresh from school and some professional card players, to name just a few.
Dennis taught them a simple long term trend following method (essentially a breakout system) and strict money management. They completed their training and when onto make $100 million in just 4 years. Dennis had proved his point.

At this stage you may be asking yourself a question:

If it's that easy to learn to trade and anyone can, why do 95% of traders lose?

The real lesson to learn from this article and make part of your forex education is:
Anyone can learn to trade - but few people have the mindset to turn this potential into profit. Some more explanation will make this clear.

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