The success of turtle stock trading.

The question "What makes a professional trader?" is a recurring theme for every Forex novice. Some believe a specialized education is necessary, while others insist that only millionaires trade.

The Turtles trading system, or rather its history, completely refutes these preconceptions. Its creator, Richard Denis (a renowned financier), was able to introduce a new approach to stock trading through unconventional solutions.

It all began with him placing recruitment ads in several stock market publications, with no specific requirements regarding education or experience.

Over three thousand people applied, and 14 candidates were selected, most of whom had absolutely no knowledge of stock trading. Among those selected were two poker players, a security guard, a computer graphics designer, and a little-known actor.

A two-week trading training course followed, and in addition to technical aspects, Richard Denis shared all his secrets with the future traders. Upon completion of the short courses, each trader was given starting capital and complete freedom of action. The system itself was named Turtles.

Several independent companies trading in various markets emerged as a result of this experiment. Using similar trading principles, the Turtles achieved astonishing results over several years of trading, increasing their initial capital tenfold, with an average annual profit of nearly 100%.

The secrets to such success were the use of technical analysis and strict money management. To find entry points, a fairly simple strategy of trading on breakout highs was used. Moreover, the high had to be quite significant and last for more than two weeks.

To increase trading profitability, profitable trades were widely added, and the volume of opened positions was also increased.

The success of Turtles demonstrated that no matter what markets a trading strategy is used in or who uses it, if all the rules and guidelines are strictly followed, profit is simply guaranteed.