Richard Dennis theory that anyone can learn to trade is flawed

[HolyGrailSeeker]

First of all he screens the group of applicant asking certain questions to find the batch with the most natural aptitude for trading. Then later, when he taught his methods of trading the ones who did not follow his rules were axed.

Therefore he was not successful in his claim that ANYONE can be taught trading and be successful.
What he did was managing to pick the most talented people in a random group and the ones that did not follow his rules and likely to fail in the future were kicked out.

 

[Millionaire]

To be a successful turtle trader i think they would have needed the following traits:

1. Passion for trading
2. At least average intelligence.
3. Compatible with his long term technical based trend following approach
4. No negative personality traits like high Neuroticism or other psychological demons that negatively effect trading discipline.

I think they screened for 1 and 2 and possibly 3 and 4. Although 3 and 4 can best be determined on the job. Hence the firings.

Dennis style was long term technical based trend following.

This is not the most compatible trading style for everyone who wants to be a trader.

Assuming a person has a passion for trading and has at least average intelligence they can probably be a profitable trader if they find the right trading stye for themselves and then develop the discipline and self awareness to actually trade it.

But still there will be a percentage who even with passion and smarts can never trade profitably due to personality traits like very high Neuroticism.

 

[JSOP]

Well in a way, it is not really flawed. His theory is anyone can learn to trade. That statement is true. Anyone CAN learn to trade. But can they SUCCEED? That is the question and the most important and his theory didn't cover that. Trading is easy but being able to make money doing it is hard.

 

[expiated]

Therefore he was not successful in his claim that ANYONE can be taught trading and be successful.
What he did was managing to pick the most talented people in a random group and the ones that did not follow his rules and likely to fail in the future were kicked out.

 

[gaussian]

1. Passion for trading
2. At least average intelligence.
3. Compatible with his long term technical based trend following approach
4. No negative personality traits like high Neuroticism or other psychological demons that negatively effect trading discipline.

Which midnight advertising special did you pull this out of? lmaooo

"Turtle trading" was designed to sell books. It's just a hero tale.

 

[Pekelo]

Well in a way, it is not really flawed. His theory is anyone can learn to trade. That statement is true. Anyone CAN learn to trade. But can they SUCCEED?

Stop the mental gymnastics. Can learn to trade means they can succeed. The end. OP is right, you are wrong.

 

[maxinger]

anyone can learn to trade but <5% can make a living with it.

 

[JSOP]

Stop the mental gymnastics. Can learn to trade means they can succeed. The end. OP is right, you are wrong.

Are you defending your alter ego again? LOL

 

[ZBZB]

Richard Dennis did elaborate on what the best markets to trend are. You can even google that now!

 

[newwurldmn]

To be a successful turtle trader i think they would have needed the following traits:

1. Passion for trading
2. At least average intelligence.
3. Compatible with his long term technical based trend following approach
4. No negative personality traits like high Neuroticism or other psychological demons that negatively effect trading discipline.

I think they screened for 1 and 2 and possibly 3 and 4. Although 3 and 4 can best be determined on the job. Hence the firings.

Dennis style was long term technical based trend following.

This is not the most compatible trading style for everyone who wants to be a trader.

Assuming a person has a passion for trading and has at least average intelligence they can probably be a profitable trader if they find the right trading stye for themselves and then develop the discipline and self awareness to actually trade it.

But still there will be a percentage who even with passion and smarts can never trade profitably due to personality traits like very high Neuroticism.

to be a successful turtle trader you need to find a place where you can get turtles cheap and then another place where you can sell them for high prices. For example: you can get turtles from the swamps of Louisiana and sell them to restaurants in New Orleans. You could also do the same in Philadelphia.