In two weeks a group of 14 people from different walks of life were taught to trade, and these turtles as they were nicknamed became world famous.

Theres much to learn from the turtle traders - lets look at how they did it and how we can copy them.

The turtle trading experiment proved ANYONE can become a successful trader and everything about trading can be learned.

Traders with no experience learned the tools to make millions in just two weeks, and they came from a variety of diverse jobs and backgrounds, including:

An actor

A security guard

Two professional card players

A bookkeeper

A boy fresh out of school

A woman who used to be an exchange clerk

They then went on to make annualized 70% returns!

Is Trading a Learned Skill, or is it all Down to Natural Ability? In 1984, Richard Dennis taught a Trend Following trading methodology to a group of students, to prove anyone, no matter what their profession, could be taught to trade successfully in financial markets.

Dennis was settling a debate with his friend and business partner William Eckhardt over whether trading skills could be taught to anyone.

The Importance of Following Trading Rules

Dennis believed that trading abilities, given in a set of rules, could be taught to others. Eckhardt believed trading abilities had more to do with innate instincts.

The Experiment

The group of 14 traders he taught (the turtles) earned an average annual compound rate of return of 80% far in excess of most professional asset fund managers, proving Dennis right.

What the Experiment Proved

The experiment with the turtles showed that anyone could indeed be taught to trade - all they had to do was learn, and follow a set of rules.

This is where we can all learn something from the turtle trading experiment.

What you can learn from the Turtles

Trading actually looks quite simple, yet few succeed.

The reason most traders fail is simply they cannot get the right mindset. The turtle trading experiment taught them the RIGHT MINDSET to succeed.

The system they were taught was essentially simple, so simple in fact, that anyone with the will to learn it could.

Dennis however realized that the problem was that most people can trade successfully, but dont because they cant trade with discipline. Their emotions get the better of them and they end up losing.

Why is Discipline so Important?

Quite simply, without the discipline to follow a method, you dont have a method in the first place, and are doomed to failure - money management goes out the window and losses follow.

Dennis taught them to have confidence in the system they were trading, and follow it rigidly to achieve success.

A Simple System made the Turtles Money

Dennis also knew that complicated trading methods are NOT likely to be more successful than simple ones - in fact, a simple trading system is more likely to be successful, as it will be more robust in the face of changing market conditions.

Not only was the system simple, it was easy to understand - meaning the turtles had confidence in it and could apply it with rigid discipline.

So, What can we Learn from the Turtles?

Well, we know that anyone can learn to trade quite quickly. We also know that simple systems applied with discipline and strict money management will work over time.

The turtle story is inspiring, as we know that anyone with the mindset to succeed can, and it doesnt matter what we do for a living - trading success is within reach of all of us.