By kelly Price
This is a story which inspired me to trade and took place in the late eighties. It involved a group of people who had never traded before, learning trading in 14 days and then going onto make hundreds of millions of dollars. Let's see how they did it...
Trading legend Richard Dennis decided to prove that anyone could learn to trade, with the right education and he gathered a group of people together to prove his point:
They were of both sexes, all ages and of varying levels of educational achievement and the group consisted of - a couple of professional card players, a boy fresh from school, a female auditor and a security guard, to name a few.
Dennis then set about teaching them to trade in just 14 days.
The result has gone down in trading history, as this group nicknamed "the turtles" went on to become trading legends and make hundreds of millions of dollars.
Dennis had proved his point - anyone could learn to trade, given the right education and they had the right mindset.
The system taught was essentially simple (a long term trend following breakout system) and anyone could understand it.
The question you maybe asking yourself now is:
If the system was that simple and anyone can learn to trade why do 95% of traders lose money?
The answer is:
You can learn a trading system - but you need the discipline to apply it.
If you can't apply it with discipline, you have no system. This is where most traders go wrong.
They want an easy way to profits and to follow guru's, mentors and forex robots with simulated track records and lose. Most of the systems sold by experts sell don't work anyway - but you can't just follow someone to success - success comes from within.
You MUST have a through understanding of what you're doing and while someone can teach you a system, you need to have a through understanding of how and why it works, so you have confidence and discipline to apply it.
Dennis knew this and didn't tell them to follow the system blindly, he taught them everything about it and made them understand it and apply it with discipline.
If you think discipline is easy, you haven't traded under pressure - it's hard to take loss after loss, in a drawdown period and stay with your system - but if you do this, you can enjoy trading success.
Forex trading looks easy and it is but most traders simply try and follow others to success and you can't do this. Sure someone can teach you the tools but you have to pick them up and use them.
There is no easy money but forex trading offers you the chance to start with small stakes and get rich and that's worth a bit of effort!
Now I am not saying you are going to become as rich as the above group - life simply isn't like that - but there is a huge difference between something being not possible and achievable.
It is my contention (and experience) that anyone can learn forex trading and find currency trading success.
In just 30 minutes a day, build big long term profits.
All you need to achieve the above is - to have the right mindset, a willingness to apply yourself and you have the chance to make a great income.
Are you up for a challenge and prepared to work hard?
Well there is nothing to stop you enjoying forex trading success.
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