In a famous experiment a group of traders had 14 days forex training and made $100 million in four years and went on to become some of the most famous traders of all time. If you want to trade forex then their story should be an essential part of your forex education.

The group were nicknamed “the turtles” and they were trained by legendary trader Richard Dennis. He set out to prove that anyone could learn currency trading, if they had the right education and mindset.

The group were of all ages, men and women, of various educational backgrounds and the only thing they had in common was – none of them had any trading experience.

The method they were taught was a long term trend following system which was based on breakout methodology and it was extremely simple; so simple in fact that anyone could learn it.

Now you may ask, if it’s that simple to trade and learn a system, why do 95% of traders lose money?

Dennis knew the answer to this.

Rather than just teach them blindly to follow a system, he taught them how and why it worked, so they could have the confidence and discipline to follow it, through a string of losing trades.

The method had more losers than winners – but Dennis taught them to stay with the system, take the losses with strict money management and hold the big profitable trades.

So could you become as rich as “the turtles”?

Maybe not, life isn’t like that but the opportunity is there for all.

There is nothing to stop you or anyone else, learning a similar method and enjoying currency trading success over the longer term.

All you need to do is get a simple system, understand it, have confidence in it and the vital element of discipline to apply it.

Discipline is the key, because if you don’t have the discipline to follow your trading system, you don’t have one!

Discipline is not easy to acquire but it’s a learned skill. If you want to be disciplined trader you can be – it’s as simple as that.

The turtles should be an inspiration to any trader and it shows what can be achieved and by anyone. I read about the story in 1983 and it inspired me to trade and I hope that it does the same for you.

Forex trading can offer a life changing income – sure it’s a challenge but if you like a challenge, then you could be on the road to a life changing income.

Here I am going to cover forex training and give you a story that inspired me to trade over 20 years ago and it covers a famous experiment that took place in 1983 where legendary trader Richard Dennis took a group of novice traders and trained them to trade with spectacular results…

The group of traders were known as “the turtles” and the only thing this group had in common was:

They had no experience of trading financial markets.

They were various ages, various levels of intelligence, both men and women and the group consisted of diverse occupations:

- A boy fresh from school

- A security Guard

- An actor

- A female auditor

- A couple of professional card players

To name but a few of the group.

The purpose of the experiment was to prove that anyone could learn to trade and trading was not a god given gift.

The results were spectacular:

This group went on to become some of the most famous traders ever and made Dennis $100 million in just 4 years.

So what can you learn?

The first thing is obviously anyone can learn to trade financial markets – if they get the right education. It doesn’t take long to learn to trade, as Dennis proved – just 14 days.

You maybe thinking – Well if that’s the case why do 95% of forex traders lose all their money?

The answer to this question is covered in the rest of this article.

The first point is trading can be learned by anyone with a desire to succeed and a willingness to learn – but in most instances, traders either get the wrong forex education, or they under estimate the importance of mindset.

You can read about the turtles and see the system was essentially a trend following breakout system – nothing complicated and the fact they learned it in 14 days proves the point.

Forex trading success however does not rely just on method – it relies just as much if not more so, on mindset. You need confidence and discipline to trade and if you don’t have these traits then you have no method at all – as you will be unable to apply it.

Dennis didn’t just tell them to follow his advice, he taught them to understand what they were doing, so they could have confidence in the trading system taught, to follow it with discipline.

This is where most traders go wrong.

They think that they can follow someone else and succeed – but you can’t, you have to learn the basics and then take responsibility for your actions.

If you think trading with discipline while you are taking loss after loss (and all forex trading systems do) think again – it’s hard to stay on course. For the importance of mindset in forex trading try reading – “The Disciplined Trader” by Mark Douglas, an excellent book all traders should read novice or pro.

So could you become as successful as the turtles?

Probably not, life simply isn’t like that – but I Will say one thing:

There is nothing to stop you achieving currency trading success – Everything about trading can be learned and that’s a fact. There are no secrets to successful trading, it’s all about you creating a framework to survive, in the anarchy that is the forex markets and trade the truth.

The turtle experiment inspired me to trade and I hope it inspires you. If you want to read more about it check out our articles and the following books:

Way of The Turtle – Curtis Faith

One of the most successful turtles, tells you everything you need to know about the methods and mindset the traders had to adopt to succeed.

Market Wizards – Jack Schwager (Edit)

You get a number of great articles, including one on how and why the turtle experiment came about. One of the top selling investment books of all times and with good reason – excellent.

So there you have it – an inspiration for your own forex training hopefully!

Simply have a willingness to learn, get the right forex education and you never know how successful your forex training could make you – Good Luck!
About the Author:

One of the most famous trading experiments of all time took a group of people with no trading experience and turned them into millionaires after just 2 weeks training…

The turtle story is inspiring because it shows that anyone can win at trading and also gives a clear insight to why most traders fail.

The Experiment

This experiment was conducted by Richard Dennis and known as the turtle experiment. Dennis wanted to prove anyone could become a successful trader and trading was a learned skill so he did the following:

1. He got a diverse group of people together who had never traded before and they were of all ages, men and women and of varying levels of academic achievement.

2. He taught them a method and the mindset to succeed and set a period of 2 weeks.

3. They were then given live trading accounts to see how well they would do.

The result of this experiment was – they made Dennis $100 million dollars in just 4 years and went down in trading history as legends.

The Paradox

The experiment throws up a question:

If anyone can learn to trade then how come 95% of ALL traders lose?

Dennis knew the answer and its simple – traders either get the wrong forex education or they don’t have the correct mindset.

The trading system taught was simple and it was just a long term breakout style system with strict money management rules.

While the system was simple Dennis knew the traders would not win unless they could apply the trading system with discipline so he didn’t tell them it worked and to follow it blindly, he taught them why it worked and instilled confidence in the traders that it did work, by showing them how it could lead them to trading success.

Losing is Part of Winning

He knew the traders would have to trade through long periods of losses and if they didn’t have the discipline to keep going through these periods, they would lose and this is the reason most traders:

They won’t accept responsibility for their actions (how many follow worthless forex robots? Or mentors) and they can’t take losses and keep them small, as they don’t have discipline.

The Market Doesn’t Beat the Trader the Trader Beats Himself

The turtle experiment is one any trader can learn from as it shows anyone can learn to trade and the key is not just a trading system, but a combination of a trading system and the discipline to apply it.

Keep in mind forex trading looks easy and learning it is but you must have the correct mindset in place as well as a good system to win.

This story is inspiring and sure you may not make as much as them but the opportunity is there for all, to earn a great side income or even a life changing income – if you have a desire to succeed, a willingness to learn and simple robust method, then forex trading success can be yours.
About the Author:

This means that in order to trade it successfully it requires solid strategy and also a proficient understanding of indicators and how to use them if you wish to make money.

The truth is that very few people are even able make consistently small profits in this market, while a few are highly successful and make a killing.

Gaining The Insider Secrets To Forex Education

The fact is that currency trading is an education in and of itself. This is a profession where learning will never really end, yet to get started profitably it requires a huge learning curve that quite honestly is just not possible to achieve with a lone wolf, “I don’t need anyone” strategy.

This means that if you want to trade profitably you have to get yourself under the study of an expert who already knows the markets and can profitably take profits from them. This leaves you with really only 2 options for the best Forex training.

The Only 2 Options For The Best Forex Trading.

Option number one is to get yourself into the confidence or employ of a successful trader who has already proven his track record.

This option is a little difficult as most private traders are closely guarded about their trading techniques and strategies, and most institutional traders (banks, financial companies) are large corporations who look for employees with the highest qualifications. This would usually mean a degree from Harvard, Yale, Or Wharton.

If this fits your resume then this would be a great option.

The Option For The Rest Of Us…

The option for the rest of use is to employ some of today’s Expert Adviser software products. These system based software products give the insider secrets that real traders use every day in live trading.

It is expert trading advice based off of these peoples profitable trading strategies and techniques.

While each piece of software is different, the reputable ones base their trading decisions off of technical indicators that are either trend following systems such as moving averages, or breakout trading such as pivot point systems.

Most of the better systems use complex trading theories such as Fibonacci and Gann based trading. But the bottom line is that these software based Expert Advisers are the best option for the normal gal or guy to get their feet wet in the markets and start learning how to trade without emotions as well as learn some really solid trading methodologies.

The Best Forex Training In A Box – So To Speak…

If you are interested in the concept of learning how to trade under the study of today’s Expert Adviser Software then be sure to study the different facts and features as each one uses different risk management, money management as well as trading techniques.