Forex Education - 3 Trading Tips From A Group Of Millionaire Traders You Need To Learn

Here we will look at a group of traders, who learned to trade in just two weeks and then went on to make hundreds of millions of dollars

. These traders were taught quickly but how did they achieve such great gains, when 95% of all traders lose money? Let's find out...

Richard Dennis was a well known multi millionaire trader and decided to prove, that anyone could be a winner at Forex trading with the right system; he gathered some ordinary people to prove the point and the group included - an auditor, a security guard, a kid out of school and an actor and he then set about teaching them a rules based trading strategy and the rest is history.

So what can you learn from them?

1. Simple Systems Work Best

The system was very simple - so simple in fact anyone could learn it and it's a fact simple systems always do better than complex ones because - there more robust with fewer elements to break.

2. Trade the Reality of Price and Don't Predict

The big buzz in Forex trading is to predict the future but the fact is Forex markets cannot be predicted and prediction is really guessing and a sure fire way to lose your money. The system Dennis devised, traded the reality of price change and let the market tell the traders what to do.

3. Money Management is Vital!

You won't win at Forex unless you preserve equity in losing periods and the system focused on keeping losses small and it had a lot of them but because the system was focused on big trends, the winners more than compensated for the losers and made the traders huge gains.

4. Discipline is the Key to Success

You will have losses and when your in a losing period, you must have discipline to follow the system and these traders had the confidence to do just that and while they all said holding discipline, was far harder than learning the system, they made the choice to do this and won big time.

Final Words

You can learn to trade successfully and the experiment above proved it and if you have the motivation to succeed, a desire to learn and make the choice to trade with discipline, you all set for big Forex gains.

The rules Dennis devised were called the Turtle rules and they work - in fact, you can read all the rules for free online and there is even a new Forex robot which is programmed with them which serious traders are buying and making huge profits with. If you trade for yourself or use the new robot, The turtle trading rules can lead you to currency trading success - good luck!

by: K Price

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