Much like the popular 1983 movie Trading Places starring Eddie Murphy, Turtle Trading began with a bet between multi-millionaire commodities traders Richard Dennis and Bill Eckhardt.
It all started in 1983 with a bet. Richard Dennis believed that you could teach people to be great traders. Bill Eckhardt disagreed, believing that genetics and intelligence were the primary factors of success.
To settle their argument, they decided to test it out for themselves. Dennis put an ad in the paper seeking traders - no experience required. After interviewing over 1000 applicants ended up with a group of about 20 diverse individuals. Some were Ivy-League grads and others hadn't gone to college. What followed was a true test of nature versus nurture.
After about a week of training, which included a simple set of guidlines and system rules, Dennis set up most traders with million dollar accounts to trade. Only after a week!
The experiment ended up being a success with the Turtles earning on average 80% per year. Dennis won the bet and proved that traders could be taught to be successful with a simple set of rules and money to trade with.
25 years later
More than 25 years later the Turtle system is still showing to be successful. With better technology, traders have been able to code the Turtle rules into a system that trades automatically. One such company that does this is DNA Technologies. They offer the public a professionally coded software program that trades the Turtle System automatically so you don't have to do a thing. They reported returns of 255% in 2008, even when the stock market was taking a huge dive. For more information, visit: www.OriginalTurtleTrader.com
Tuesday, February 10, 2009
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