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Trader Richard Dennis - Turned $400 into $200 million  


chrisJoh


Posts: 1
Joined: 2 weeks ago

Do you know many people who turned approximately $400 into $200 million in ten years?

rrr

 

Richard Dennis, a famous trend trader, achieved this amazing accomplishment, becoming a millionaire before the age of 26.

He believed that trading could be taught to anyone, which led to the famous experiment of the Turtle Traders, where he taught a random group of people the basic principles of trading over a two week period.

His group of 23 traders, five years after he taught them how to trade, had made a collective profit of approximately $175 million dollars.

Richard has been an inspiration to many, and has proven the effectiveness of the trend following strategy.

 

We’ll now look at 6 of his most famous quotes:

1.

“Trading has taught me not to take the conventional wisdom for granted. What money I made in trading is testimony to the fact that the majority is wrong a lot of the time. The vast majority is wrong even more of the time. I’ve learned that markets, which are often just mad crowds, are often irrational; when emotionally overwrought, they’re almost always wrong.”

This applies to the current situation in the stock market, in my opinion. Many “experts” are predicting the next crash and many said that it would have already happened by now.

History does repeat itself, and a crash surely could happen tomorrow, but that shouldn’t deter you from your trading strategy if the market conditions are still in your favor.

Being able to block out the news will allow you to stay level-headed and keep your emotions at bay when analyzing the markets.

Many trade based on fear and greed, which is w

hy most traders lose money. Be confident in your strategy and plan, and you will be well on your way.

2.

“Trade small because thats when you are as bad as you are ever going to be. Learn from your mistakes.”

1 Reply
tracz


Posts: 31
Joined: 3 weeks ago

Huyu jamaa alikuwa hatari sana. Nice read

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