Forex Learning: Trading is currently a very interesting field and many people are starting to jump into this business, but unfortunately for example you are looking for in Google search engines there will be many articles which can be seen from statistics that almost 90% of traders fail. The question in your mind is who is wrong, is this business cheating or is it the fault of the trader itself?
Actually, the error lies in the trader himself, not the trading. That’s because most novice traders when plunging in this business are not equipped with sufficient understanding and knowledge. They are only tempted by the benefits that will be gained and how easy it is to make money in this trading business. They often forget that trading is also like business in general where there is a risk in it and unfortunately novice traders are less aware or concerned about the risks that accompany this trading business.
Then many of the failed beginner traders think that they don’t have talent in this trading business. Though no one is born to be a professional trader. Being a professional trader is not because of talent, but to be a professional trader it must be formed . Being a great trader is not a natural talent. No one can prove this theory until the story of “The Turtle Trader”.
In 1983, two successful traders, Richard Dennis and Bill Eckhardt, argued quite hotly. They argue whether being a successful trader is due to talent / inheritance or can be taught in the sense that a successful trader can be formed.
Bill Eckhardt believes that being a successful trader is because talent and it cannot be taught, while Richard Dennis instead thinks that everyone can become a successful trader through the right trading education. The war argument finally led them to test the theory. Richard Dennis finally recruited 23 people from various backgrounds and began to teach them about trading to see how they performed after training. In the training, each of the 23 people was given a set of trading rules or a trading plan that had to be followed, even though in the end everything was returned to each of the 23 people how they would trade.
Richard Dennis referred to the 23 people as “The Turtle” and gave each of them $ 1 million to trade, and in four years the group could book profits until finally the $ 1 million capital became $ 100 million . And one of the people who took part in the Turtle group was Curtis Faith who was only 19 years old when he first joined the program held by Richard Dennis.
These experimental results indicate that to be a successful trader is not because of talent. Almost everyone can become a successful trader with the right tools and training and continuous training to practice skills or abilities in trading.
Hopefully this article can inspire beginner traders and traders who have lost and almost broke up a.