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In the past, I read the storyline of the turtles inside the book “Market Wizards”. I had been fascinated to learn the way the legendary trader Richard Dennis, trained several novice traders in only 2 weeks – and how these novices later became trading legends themselves.

We have now a magazine compiled by one of the turtles themselves. “The Method of the Turtle” by Curtis M. Faith. This turtle and author made $30 million for Dennis – now shares his insight of the turtle experiment and it is achievements

In 1983, Richard Dennis had a bet with his long-time friend William Eckhardt. They had a friendly dispute on whether traders were born, or might be taught to become successful. Dennis thought they could be taught, but Eckhardt thought they couldn’t.

The turtle experiment took place – and Dennis won. The turtles achieved a collective compound rate of return of over 80%. This number of 23 traders had not traded before, yet were trained to trade a method in only Fourteen days.

“Way of the Turtle” reveals the causes for their success, and covers such areas as:

The machine rules and methodology Why, while they used exactly the same method, some Turtles were more successful as opposed to runners were. How to expand the rules the Turtles used – to find core strategies that work for any tradable market. How to use the Turtle solutions to your own trading strategy. Approaches to diversify your trading risk

The “Way with the Turtle is a good book – being easy, and fun to learn. The ebook throws up one key undeniable fact that all forex traders should note within their forex education: Simple trading systems can offer a trading edge, but it’s psychologically hard for most traders to follow along with these systems and use the edge the device provides. This really is clearly shown by the fact the Turtle’s results varied (despite the fact that each of them were taught exactly the same methodology).

Additionally there is a discussion around the difficulty of executing a system that has a few big winning trades, to experience a standard positive return on your investment. If you learn one key fact in the book, it’s that learning an effective trading system just isn’t enough. You will need the mental discipline to execute the device correctly – to be able to increase your returns. I’ve always found the experiment an inspiration, and I’m sure other traders who see this book will come away thinking, “they made it happen – therefore it is possible!”

You can be a successful trader should you gain the best knowledge – however, you likewise require courage and discipline, so that you can execute the knowledge correctly. You might not be as successful as the turtles were – but the book points you inside the right direction, to achieving currency-trading success. The ebook performs this by highlighting some key areas you should apply in your currency trading strategy, to become a prosperous currency trader.