Online Trading IndexEverything You Need to Know for Smart Trading

Have you ever heard of the Turtle Traders? Maybe not. If not, then read this article to know the amazing story of how novices known as Turtle Traders became millionaires in a matter of a few years trading commodity futures. The story starts in 1983 ! 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 . One day, he had an argument with his trading partner and his close friend Bill Eckhart. Bill argued that great traders are only born. You can’t do anything about it . Download the Turtle Trading Rules! Discover Forex Onslaught and meet Ryan Williamson, a red headed 25 years old NASDAQ TRADER from United Kingdom and learn how he can help you make each day a four figure cash payday!

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!

If you enjoyed this post, make sure you subscribe to my RSS feed!