Thursday, March 18, 2010

Turtles make easy meat of sheep & lemmings

What are turtles? Turtles are trained traders. They are savvy and skillful in their trading. The sheep and lemmings are easy meat for them.
In 1983, two famous commodity traders, Richard Dennis and Bill Eckhardt did not see eye to eye in respect of trading. Richard was of the opinion that a trader could be trained to trade profitably while Bill said that a trader's skill was inborn. So, they decided to have a experiment.
Two groups of people were each given $2m to trade. One group was given professional training before they commenced. The other group was not given any training at all. Over time, the trained group was far more superior making over 80% annually. Thus, if you want to be successful in your trading, make sure your are a turtle and not a sheep or lemming.