Description

Is someone who has earned more than 200 million dollars on the stock market particularly talented? Or can anyone do that?

This question was asked by the highly successful traders Richard Dennis and William Eckhardt.

Dennis earned over 200 million US dollars on the stock market in 18 years using just 400 US dollars in start-up capital. He claimed that anyone could learn how to trade by applying his trading system.

Eckhardt, on the other hand, who was also a hugely successful futures trader and who had already earned many millions, claimed that Dennis’s success should be attributed to his extreme talent and that not everyone could replicate his achievements.

Thus begins the legendary story of the Turtle Traders.

The two men set out to verify their respective claims. They summarised their trading system through clearly defined rules, which they dubbed the ‘Turtle Trading System’.

They placed an advertisement and selected some applicants who had no stock market experience to learn their trading system.

The selected participants were first given a demo account to practise and the best of them qualified for a real money trading account with a starting capital of between 500,000 and 2,000,000 US dollars.

In the years that followed, these selected participants averaged over 80% profit; and some of them are still successful traders today.

Thus, Dennis was ultimately proved right. Anyone can learn to trade!

Many believe that you have to be a mathematical genius to be successful in the stock market, or that you need a large amount of start-up capital. Or, like Warren Buffet, that you have to wait 50+ years before you can become rich.