By Samuel Leslie Berkovits
Here we will look at how to learn Forex trading the right way, we will look at a group of people who had no experience of trading, learned to trade in two weeks and then went onto make hundreds of millions of dollars. I am not saying you will earn as much as them but what they did is sound advice and can help anyone profit from global Forex trading.
The Turtle experiment was devised by trading legend Richard Dennis and his aim was simple - to prove anyone could learn to trade with the right education. He took a group of people who ranged from a security guard, to a boy just out of high school and set about teaching them to trade.
After a period of instruction which lasted two weeks, they got accounts of $100,000 each and were allowed to trade. They all received a percentage of the profits as their income and they went on to make several hundred million dollars profits.
It's an inspiring story and how they achieved it was not with a complicated trading system in fact, the system was simple and was just a breakout system which followed long term trends. The system didn't even win most of its trades, it lost far more than it won but had great money management.
The system itself was not the key to success and Dennis knew this, he therefore focused on giving his pupils the right mindset and. instilling discipline in them. After the experiment was over most of the the traders said following the system as it was given to them, was far harder than learning the system itself.
Today there are lot's of people telling you trading is easy - you can plug in a robot make thousands of percent and have a success rate of over 90% but this is not the reality of trading.
The reality of trading is - being able to follow a logical system through long periods of drawdown ( all the best systems lose for long periods) and staying on track until profits re-emerge. In the second article in this series,we will focus on why most people can't get the right mindset for success and how you can achieve it and enjoy currency trading success.
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